Common BOLI Objections

Bank-owned life insurance (BOLI) is not new.  In fact, most of the nation’s largest banks, as well of thousands of community banks, have purchased BOLI – a life insurance policy written on the life of an employee.  The purchase of BOLI is considered “best practice” and a common strategy to manage the escalating employee benefit… Read more »

An Unintended Consequence of Mergers and Acquisitions

A 2015 Gallup Poll highlights an unintended consequence of bank mergers and acquisitions: customer loss.  The poll studies the impact of mergers and acquisitions and how they are affected by the concept of customer engagement.  Customer Engagement, as defined by Gallup’s research, is based upon the answer to three key questions. Does the company always… Read more »

How Executives Minimize the Retirement Tax Hit – Plan Ahead

Nikki Kook – Marketing and New Business Make a plan for your large retirement payouts, such as stock awards and deferred compensation, at least one to two years before leaving. In addition, take inventory of short-term cash flow needs in retirement, such as health and insurance needs and exercised stock-option taxes. Lastly, always review the… Read more »

Does Annual Pay BOLI Fit Your Bank Better?

With banks still fighting for good spreads and the threat of rising interest rates looming does annual pay BOLI make sense? Banks have been using BOLI for over thirty years as an effective tool for offsetting employee benefit expenses. Most institutions use a Single Premium Modified Endowment Contract (MEC) product to maximize returns. MECs are… Read more »

Our CEO had a heart attack…Now what?

With the recent news coverage of Oscar Munoz, the new chief executive officer of United Continental Holdings Inc. undergoing treatment at a Chicago hospital after suffering a heart attack, many people are reviewing what a loss of a senior leader could mean to a business and its value. They are reviewing the options available for… Read more »

Long-Term Care for Employed Spouses

Nikki Kook – Marketing and New Business You are the sole proprietor or partner of a business. Your spouse is a genuine employee of the business. A long-term care insurance plan can be set up and paid for by the business for the benefit of this employed spouse. In conjunction, the employed spouse’s spouse (AKA-… Read more »

Is Personal Communication Dead?

In today’s world of constant pressure for our time and attention has personal communication lost its value? There are over 380 influence attempts daily for the average person. It starts with the commercials on your alarm clock radio. It moves to the advertisements in your local or national newspaper. It is every eight minutes on… Read more »

Multiple Uses of Deferred Compensation Plans

With the improving economy, key employees that had been limited in other employment opportunities and resistant to look for new jobs are now willing to explore possible employment changes. Employers need well designed incentives to recruit and retain key employees. Key executive deferred compensation programs are popular vehicles to motivate, incent, and retain key personnel…. Read more »