2007 Book Examines Bank-Owned Life insurance and Its Benefits

Over a career spanning 30 years, Warren Wamberg has built experience operating financial and insurance services companies. Drawing on his expertise, Warren Wamberg has written books on industry topics, including bank-owned life insurance (BOLI).

Published by the American College Press in 2007, Mr. Wamberg’s book, The Theory and Practice of Separate Account Bank-Owned Life Insurance, assists financial professionals with understanding BOLI and its benefits. At the time of the book’s publication, BOLI had grown from its 1983 creation into a tool used by more than 3,000 banks.

BOLI is a type of insurance that banks purchase to fund employee benefit liabilities. The bank usually both owns and is the beneficiary of the policy. By providing tax-free savings, the insurance allows banks to fund benefits at a reduced cost.

The book explains the numerous considerations that financial professionals must make when deciding whether to use this financial tool. At the time of its release, the then-president of the American College Press recommended the book to any financial professional interesting in learning more about BOLI.