Bank-Owned Life Insurance (BOLI).
Bank Owned Life Insurance (BOLI) is used by financial institutions to informally fund corporate obligations in connection with certain liabilities and various types of employee benefit plans. New York Life Insurance and Annuity Corporation (NYLIAC), a wholly owned subsidiary of New York Life, is a leading provider of BOLI with over $18.5 billion of BOLI assets under management as of December 31, 2015. Since our first BOLI product was introduced in 1992, NYLIAC has been the issuer of over 63,000 BOLI policies in both separate account and general account markets with products specific to the needs of all market segments.
BOLI has proven to be a cost efficient and effective means for banks to offset rising employee benefit costs.
BOLI transfer informaton
Available in all jurisdictions, except: IN
Minimum Transfer: $500
Maximum Transfer: Greater of 15% of the policyowner’ cash value in the investment portfolio from which the transfer is being made, or the policyowner’s last transfer amount from the same investment portfolio on the most recent prior Transfer Date, subject to certain other limitations. (Refer to endorsement for limitations that may apply.)
Information on transfers for BOLI 30 and BOLI 50 Policies
Send transfer request form to:
Fax: (913) 906-4129
New York Life Insurance and Annuity Corporation
Attention: BOLI Administration
11400 Tomahawk Creek Parkway
Leawood, KS 66211
Your Transfer Request is irrevocable when received in our Service Office.
©2016 New York Life Insurance Company. All Rights Reserved. New York Life Advanced Markets Network is a division of New York Life Insurance Company. SMRU 00372482
For public information on the products in our portfolio, please feel free to browse through www.newyorklife.com. Note that not all products shown there are available through the Advanced Markets Network.