Background: The bank implemented a Salary Continuation Plan as a way to reward and retain certain key executives. The Bank purchased BOLI as way to informally finance this benefit plan… Read more »
BOLI / COLI Case Study: Offset Increased Health Insurance Expenses
Background: Facing an issue that is not uncommon today, a bank incurred an 8.9% increase in its health insurance premiums. Because of lower margins and a low-yield environment, the bank… Read more »
Trust-Owned Life Insurance (TOLI)- To Have and to Manage
Trust-Owned Life Insurance (TOLI)- To Have and to Manage Patrick J. Marget, JD, CPA, CFP, CLU- Managing Director Facts: 25% of non-guaranteed TOLI will lapse during the insured’s lifetime, even… Read more »
Common Oversights in Split-Dollar Plans
AALU “Split-dollar arrangements (SDAs) can provide insurance planing flexibility in both business and private settings. Business SDAs generally are between a company and an insured employee or owner (or commonly… Read more »
Succession Planning for Family-Owned Banks and Businesses
You are gone tomorrow. What happens to the business you poured years of blood, sweat and countless sleepless nights into? Will your family take it over? Is there an outside… Read more »