What Is Boli Life Insurance?
0 POINTSContact Meview profileDavid RacichPROFountain Hills, ArizonaBOLI life insurance is bank owned life insurance, generally life insurance on the employees of a banking institution. The bank is also the beneficiary of the policy. It’s look upon as a tax free money haven for the banks under the idea of an employee group benefit.Answered on July 4, 2013+01+1 this answer
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5877 POINTSview profileStan Cox IIInsurance Adviser - Broker, SC Insurance Services, Oahu, HawaiiBank Owned Life Insurance or BOLI is a form of Key Man life insurance. It is implemented and owned by the financial institution that it protects. BOLI policies are written on the lives of employees and the beneficiary is the financial institution, which also pays the premiums. Only financial institutions such as banks, brokerage firms, mortgage lenders, credit unions etc, offer bank-owned life insurance.Answered on May 25, 2015flag this answer
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