SERVICES
We offer custom plan design, implementation, and support from beginning to end. You can trust our experts to guide you throughout the process.
Bank-Owned Life Insurance (BOLI)
Program Design & Implementation Framework
At BCC, we design tailored BOLI programs that align with your bank's financial goals and strategic vision. Our 5-step framework ensures a seamless process, from assessing your needs to delivering a customized, high-value solution - all with transparency and expertise.
Comprehensive Bank Analysis & Goal Alignment
Insurance Needs Quantification
Market Carrier Selection & Due Diligence
Education & Communication
Program Implementation & Value Optimization
Comprehensive Bank Analysis & Goal Alignment
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Conduct a comprehensive review of the bank’s financial position, long-term goals, and regulatory considerations.
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Align the BOLI strategy with institutional objectives to ensure meaningful impact and full compliance, including guidance from OCC Bulletin 2004-56, FIL-124-2004, and SR04-19.
Insurance Needs Quantification
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Evaluate executive benefit needs and workforce demographics to determine optimal coverage.
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Leverage financial modeling to project outcomes and ensure the program aligns with performance targets.
Market Carrier Selection & Due Diligence
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Assess the full BOLI carrier market to match solutions with the bank’s risk tolerance and strategic objectives.
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Prioritize financial strength, product flexibility, and long-term value.
Education & Communication
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Deliver tailored education and decision support to boards and leadership teams.
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Provide transparent analysis and clear guidance to drive confident decision-making and smooth regulatory integration.
Program Implementation & Value Optimization
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Execute the program seamlessly and enhance it with complementary executive benefit strategies.
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Offer ongoing monitoring, performance reviews, and compliance updates to optimize long-term value.
BCC doesn't just implement BOLI products; we serve as a trusted advisor throughout the process. By leveraging deep financial expertise and proprietary strategies, you ensure every solution is:
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Tailored to the bank's unique situation.
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Transparent in design and execution.
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Scalable for future needs.
This framework reinforces our commitment to superior client service through education, strategy, and technology.
Ongoing Administrative Service
BCC will continue to provide the bank with the required annual compliance documents, tax information, and accounting reports.
Monthly, quarterly, and/or annual reports detailing policy cash surrender value (“CSV”) and death benefit (“DB”).
Preparation of IRS Form 8925 information.
Monitoring and reporting for regulatory compliance and additional insurance information as requested.
Updates of insurance carrier ratings from Standard & Poor’s Corporation, Fitch Research, Moody’s Investors Services, and A.M. Best Company. In the event of a material change in ratings or condition, BCC will notify the client as soon as possible,
Preparation of annual participant statements and payroll reporting for applicable benefit plans.
Preparation of an annual BOLI Board Reporting package.
Continuous sweeps of over 26,000 sources of death information including the Social Security Administration's Death Master File and obituary announcements from both funeral homes and newspapers to assist with the death claims for insured employees.
Annual cash value confirmations for insurance carriers for the client’s auditors, as requested.
Preparation of suggested journal entries for benefit plan expenses.
Client Portal
Our client portal is designed to provide a seamless experience for all users. This free platform ensures that your information is secure and accessible whenever you need it.
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24/7 availability
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Easy access to your reports and important documents
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Upload documents for BCC safely and securely
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Communicate with our team
Enjoy peace of mind knowing that your data is protected while you stay connected with us.