Corporate Owned Life Insurance (“COLI”) is often used for a number of business purposes including key-person insurance, business succession planning, and as a funding option for executive benefit plans. The business is typically the owner and beneficiary of the insurance policies which can be tailored to meet the specific financial needs facing an organization. Many of the tax advantages associated with traditional life insurance carry over to COLI, making it an appealing alternative asset for a business to own.
To learn more about how COLI could help your business, please contact us.