To describe bank-owned life insurance, or more generally, business-owned life insurance.
BOLI is used as a tax efficient method for offsetting the costs of employee benefit programs. Historically, BOLI was often combined with a new executive benefit plan for senior executives. However in more recent years many banks have added BOLI in order to offset existing employee benefit expenses. BOLI is an acronym commonly used to describe bank-owned life insurance, or more generally, business-owned life insurance. The product is basically a permanent life insurance policy in which the bank insures the life of its key executive(s). Bank Owned Life Insurance | BOLI-is an allowable transaction that serves the bank as a competitive tax-free investment. BOLI has its roots in Corporate Owned Life Insurance, which has been used by large corporations for decades to offset employee benefit plan costs and other liabilities. BOLI is an acronym commonly used to describe bank-owned life insurance. COLI is an acronym used to describe corporate-owned life insurance (COLI). The term BOLI/COLI is used more generally to describe employer-owned life insurance. The product itself is basically a permanent life insurance policy where the employer insures the life of its key executive(s). BOLI is an acronym for institutionally price, investment grand Bank-Owned Life Insurance. The BOLI asset is offered to banks on a select basis by insurance carriers through a limited number of sophisticated consulting organizations. What is BOLI?  Bank-Owned Life Insurance (BOLI) is a special type of life insurance where the Bank is the owner and beneficiary of the policy.  BOLI is an asset of the Bank and is normally funded with a single payment.  Most BOLI policies do not have premium loads and do not have surrender charges.
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what is boli used for