Schiff Benefits Group, LLC, Matthew E. Schiff, An Executive Benefits Consulting Company

Deferred Compensation Plans

These employer-sponsored compensation programs, funded by employees or employers, may grow tax deferred. Read more ...

Corporate Owned Life Insurance

An extremely useful asset to the company,
COLI can fund benefit plans over the life
an insured employee. Read more ...

Bank Owned Life Insurance

We have 20 years of experience in this highly
specialized field. Find out how BOLI can help
your balance sheet. Read more ...

Our BOLI Implementation Process

The long-term success of your benefit-financing program depends on the expertise of its design, management and support. To ensure that your BOLI portfolio complies with complex regulatory and reporting requirements – including insurable interest, equity and risk parameters – Schiff Benefits Group, LLC in conjunction with one of our Third Party consulting companies will help manage the BOLI from pre-purchase assessment through post-purchase administration.

Schiff Benefits Group, LLC has implemented standards that meet the guidelines for purchasing BOLI as outlined in OCC Bulletin 2004-56 and have working relationships with Accountants, Attorneys and Third Party Administrators who can administer these plans on behalf of our clients.  Our Initial pre-purchase analysis will evaluate the following:

  1. Calculate employee benefit liabilities
  2. Conduct OCC testing for insurance and benefits
  3. Analyze insurable interest
  4. Analyze risks (credit, price, interest rate, legislative)
  5. Prepare financial models (test risk positions, policy surrender, etc.)
  6. Review carrier investment strategy
  7. Review policy characteristics (general account, separate account, variations)
  8. Reverse-engineer products
  9. Negotiate final pricing with carriers
  10. Assist in Board review

Disclosure

Licensed in the following states:
Insurance: AL, CA (Insurance License #0D30720), CT, DE, FL, IL, IN, KS, LA, MD, ME, MI, MN, NJ, NY, PA, SC, TX, VA