As banks continue to look at ways to increase benefits for their employees while growing their business, bank-owned life insurance, better known as BOLI, has certainly gained traction. However, BOLI is not always fully understood, and many find they lack key insights into what role BOLI can fill for a bank and what they should keep in mind when looking for a BOLI carrier. American Banker Contributing Editor Danielle Fugazy sat down with Michael Dunn, CLU, ChFC®, Head of Institutional Life Insurance for MassMutual, and *David Shoemaker, CPA/PFS, CFP®, Managing Consultant with NFP Executive Benefits, to talk about the benefits of BOLI today. What follows is an excerpted version of that conversation.
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