A strategic asset for insurance companies
Insurance Company Owned Life Insurance (ICOLI) is a form of corporate owned life insurance utilized by insurance companies. Like other forms of corporate and bank owned life insurance (COLI, BOLI), ICOLI is an institutionally priced corporate life insurance asset used to informally finance employee benefit expenses.
It is a well-established and accepted practice with over $60 billion held by over 125 U.S. insurance companies.
Program Structure
As with other corporate-owned life insurance structures, an ICOLI program is typically structured with the employer as both the owner and beneficiary of the policies, and a select group of consenting senior employees as the insureds.