Bank Owned Life Insurance (BOLI) Programs
GBA is pleased to endorse Executive Benefit Specialists, LLC (EBS) as a GBA Strategic Partner. EBS specializes in the placement and service of Bank Owned Life Insurance (BOLI) programs. These programs utilize BOLI to finance existing employee benefits, as well as to informally fund new or existing nonqualified executive benefit plans. EBS offers implementation and plan design services as well as administrative services. If you have BOLI now and need or want to consider a new service provider, EBS can assist you with compliance and reports essential for your bank, board and regulators. Given the fiduciary responsibilities of bank management and board members, it is crucial that banks partner with experienced and qualified professionals to service their BOLI programs and Nonqualified Plans. EBS provides comprehensive service through a group of qualified professionals with specialized expertise in insurance and public accounting. Each client is assigned a specific service team with extensive back office support. The professional designations held by members of the organization include CPA, JD, CLU, MSFS, MBA, CFP, ChFC and others. Under the guidance of EBS, billions of dollars of BOLI face amount have been placed with the highest rated carriers offering institutional pricing. Their informal funding solutions are built on sound economic foundations and are conservatively structured from a tax perspective. As an added benefit to GBA members EBS is offering a complimentary, customized BOLI Assessment Report and Carrier Due Diligence Review Report.
EBS does not engage in the practice of law or accounting. Any questions concerning legal, tax or accounting advice should be referred to your appropriate counsel or advisors.
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