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Implementation Services

• Assist with the bank’s Pre-Purchase Analysis, including all documentation required by FIL-127-2004, OCC 2004-56, SR 04-19 or TB 84.
  
  
• Assist with communication with Bank’s Board of Directors and provide a sample board resolution.
  
  
• Consult with the Bank concerning the census of insureds and BOLI premium allocation among the insureds by carrier.
  
  
• Begin the underwriting process with each applicable insurance carrier.*
  
  
• Coordinate the wiring of funds with each insurance carrier.*
  
  
• Communicate insurance offers and reallocate premium to obtain best policy yields.*
  
  
• Review existing benefit agreements to determine if any amendments are necessary due to insurance changes.*
  
  
• Recalculate financial statement impact of benefit plan based on final terms of the documents.
  
  
• Review insurance policies and deliver policies to the bank.
  
  
• Assist with filing of death benefit endorsements that may be utilized by the benefit plan agreements.
  
  
• Provide Bank with Administrative Manual to be used to store annual updated information concerning cash values, death benefits, census information, and procedures for filing death claims.