Fun Website

[Lloyds of Lubbock]

FDIC: Details and Financials - ID

Look up your bank, generate report and see how much cash value life insurance they own. (line 41)
Have fun!

 

[marindependent]

That is Fun @Lloyds of Lubbock

You are one interesting guy.

 

[Allen Trent]

FDIC: Details and Financials - ID

Look up your bank, generate report and see how much cash value life insurance they own. (line 41)
Have fun!

You kids these days & your addiction to technology & immoral internet sites & content

 

[shonceman]

FDIC: Details and Financials - ID

Look up your bank, generate report and see how much cash value life insurance they own. (line 41)
Have fun!

That’s interesting. I deal with two banks. The giant, well known, nationwide bank has 0 life insurance assets. The smaller regional bank has around $400,000,000. Why do banks typically carry life insurance assets, and why would the big bank have none?

 

[Allen Trent]

That’s interesting. I deal with two banks. The giant, well known, nationwide bank has 0 life insurance assets. The smaller regional bank has around $400,000,000. Why do banks typically carry life insurance assets, and why would the big bank have none?

Tax shelter. Because insurance policies cash value function alot like a govt/corp bond portfolio, having the money inside life insurance cash value defers taxes rather than having the annual interest reported on the Business/Bank tax return from the interest & dividends and sale/maturity.

Some use for funding their other benefit plans also

PS--many insurance carriers over the years also held cash value COLI with other big name mutuals. same reason as above

 

[Lloyds of Lubbock]

A BOLI product is a single premium whole life like product.
It has a bond like return.
Banks typically buy them on management.
The death benefits are used to fund retirement obligations and loss of a key person.
There was a book written years ago Pirates of Manhattan that had a nice take on this.
https://www.barryjamesdyke.com/

 

[Tahoe Ray]

A BOLI product is a single premium whole life like product.
It has a bond like return.
Banks typically buy them on management.
The death benefits are used to fund retirement obligations and loss of a key person.
There was a book written years ago Pirates of Manhattan that had a nice take on this.
https://www.barryjamesdyke.com/

I still have 10+ copies of that book and used to hand them out like candy to agents.

Great read.

 

[Lloyds of Lubbock]

A lot of agents made sales using that book