Entries by The Acumen Team

Why Do Credit Unions Use Corporate-Owned Life Insurance (COLI)?

Credit unions use the cash value of Corporate-Owned Life Insurance (COLI) as a tool to help them generate higher yields to offset the rising costs associated with employee benefits programs, such as health insurance and retirement.  The death benefit from a life insurance policy can be used to help the organization shore-up underfunded benefit programs, […]

The Importance of Understanding Split-Dollar Insurance

Split-dollar life insurance is a unique type of life insurance policy that can be extremely beneficial for businesses, including nonprofits and credit unions, and their key employees. Unlike other types of life insurance policies, split-dollar allows the organization to share in the risk and rewards associated with the policy. A split-dollar life insurance arrangement is […]

What is Split-Dollar Life Insurance?

Simply put, a split-dollar life insurance arrangement is a form of executive compensation, involving an agreement between employer and employee, who ‘split’ the benefits and ownership rights of a life insurance policy.