VIDEO: Choosing an Insurance Carrier for BOLI

Choosing an Insurance Carrier for BOLI EBN’s approach in recommending BOLI is to make sure our clients understand the carrier and product they are investing in.  When selecting the best insurance carrier to underwrite the BOLI, it is important for the bank to look at highly rated insurance companies with the strongest credit ratings from each… Read more »

VIDEO: Are BOLI Yields Competitive?

David/Pat, BOLI Yields (canva.com) BOLI yields have remained competitive to other bank investments partly due to the tax-free build-up of BOLI earnings.  The yields on BOLI products have been attractive, and has sustained their competitiveness during the low interest rate environment we’ve experienced for the last several years.  Learn more in our video!

Video: What is BOLI?

EBN is answering some commonly asked questions on Bank Owned Life Insurance (BOLI), starting with the basic question of What is BOLI? BOLI is the purchase of a single premium permanent life insurance policy that is owned by the bank and generally issued on the lives on key bank employees and directors. Watch the short… Read more »

Celebrating 20 Years!

EBN is celebrating 20 years in business!! Thank you to our clients who trust us to provide service and plans that fit your needs, to our employees who go above and beyond to assist our clients, and to the different organizations that allow us to partner together to provide “Knowledge You Can Bank On.” We look forward to… Read more »

2021 COLA Numbers

The 2021 Cost of Living Adjustments for various qualified retirement plans and other amounts have recently been released by the Internal Revenue Service. The numbers have been updated based on IRS Notice (2020-79). The change in the employee benefit plan limitations is due to an increase in the Cost of Living Index meeting the statutory thresholds…. Read more »

Effects of COVID-19 on Nonqualified Plans

Nonqualified Plans and the American Pandemic, COVID-19 The new coronavirus, COVID-19, has created great social and economic uncertainties for companies, their employees and families. This article provides helpful information to assist nonqualified plan sponsors in answering the most common questions they may be receiving from their participants. In this brief newsletter we will have answers… Read more »

The Why for Business Life Insurance

How Life Insurance and Business Succession Go Hand in Hand Life insurance plays a significant part in an individual’s future and financial plan.  Personal life insurance planning protects a family from the unknowns in life. Along with personal planning, insurance can be critical in business succession to ensure a business’ financial security and longevity.  As… Read more »