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Acumen Insurance Solutions is an affiliation of independent life insurance experts solely for marketing and cost sharing purposes and is not a co-venture or partnership for any other purposes. No member of Acumen Insurance Solutions shall be liable for actions by any other member.
Life Insurance 101: Difference Between Buy-Sell and Key-Person
/in Business, Insurance, News & InsightsBuy-sell life insurance is different from key-person life insurance. Buy-sell protects the departing business owner and his/her family, as well as the company and its remaining owners.
Term Life Insurance vs. Permanent Life Insurance
/in Insurance, News & InsightsWelcome to Insurance 101! Do you know the difference between term life insurance and permanent or whole life insurance?
Term life insurance is life insurance for a period of years whereas permanent life insurance or whole life insurance is designed to last for your lifetime.
Succession Planning Amidst the Great Resignation
/in Business, News & InsightsNow more than ever, amid the Great Resignation, companies need to look to succession planning to boost employee retention.
Knowing Your Life Insurance Options
/in Insurance, News & InsightsYour life insurance options include continuing your coverage, letting your coverage lapse, surrendering your policy, or selling your policy via life settlement.
How to Maximize Your Legacy Using Life Insurance
/in Insurance, News & InsightsEnhance your legacy, minimize taxes, and increase the amount you pass to heirs by combining a gifting strategy with an irrevocable life insurance trust (ILIT).
Charitable Donation Accounts: Why Would Your Organization Use One?
/in Credit Unions, News & InsightsWhy would you organization use a charitable donation account (CDA)? In the current low yield environment, credit unions need to be efficient. A charitable donation account (CDA) can help fund contributions efficiently.
Can I Change My Life Insurance?
/in Consulting, News & InsightsYour life insurance policy is a flexible, liquid asset that can be changed when faced with shifts in career, family, health, or even due to policy or industry changes.
Why Should a Credit Union Invest in Credit Union-Owned Life Insurance?
/in Credit Unions, News & InsightsCredit union-owned life insurance is safe, liquid, and provides meaningful rates of return in today’s challenging investment and interest rate environment.
Auditing Existing COLI Plans for Credit Unions
/in Credit Unions, News & InsightsPeriodically auditing an existing COLI portfolio can mean reducing risk and significantly improving earnings over time. Many credit unions, however, do not review these contracts regularly.
Mark-to-Market Accounting and COLI
/in Credit Unions, News & InsightsFor credit unions that are investing in traditional securities, current accounting treatment now requires mark-to-market accounting and volatility can directly impact net income.
CDAs: How to Give Back Smarter
/in Credit Unions, News & InsightsA charitable donation account (CDA) can help your credit union give back to your members and community while strengthening your bottom line.
Why CUOLI is the Best “Otherwise Impermissible Investment” for Your Credit Union
/in Credit Unions, News & InsightsCredit union-owned life insurance (CUOLI/COLI) is the best “otherwise impermissible investment” for your credit union. Using CUOLI in your CU can solve major issues from narrowing margins to employee retention.
CUOLI: How to Earn More Safely
/in Credit Unions, News & InsightsCredit union-owned life insurance (COLI/CUOLI) can help you earn more for your CU and is a great way to earn a higher current yield without sacrificing safety or liquidity.
Section 20 vs. Section 21: What’s the Difference?
/in Credit Unions, News & InsightsUnder the National Credit Union Administration (NCUA), Section 20 and Section 21 allow credit unions to contribute to strategies outside of typically permissible investments CUOLI/COLI and CDAs.
What are the Benefits of Credit Union-Owned Life Insurance?
/in Credit Unions, News & InsightsIn today’s interest rate environment and in the face of rising employee benefit expenses, the yield on a credit union’s safest and most liquid assets is extremely low and typically generates little income. Additionally, in order for a credit union to potentially increase the yield on its assets, liquidity and/or safety typically must be compromised.
Using credit union-owned life insurance (also known as “COLI” or “CUOLI”) as a way to pre-fund the increasing cost of benefit expenses, however, can provide significant advantages to your credit union.
Let’s discuss the benefits of COLI.