After the 2017 inaugural survey, we received feedback from several participants on topics, length, and frequency of the survey. Most agreed the findings were valuable and encouraged us to repeat the survey in 2018.
The survey was conducted in late 2018 and early 2019.
- Survey Links were shared with over 100 banking institutions, both with and without existing BOLI, and spanning a wide range of size
- 11 full responses were received, representing 10 banks, all of which own BOLI
Highlights & Reflections
- Death Claim Processing: For many questions, we asked participants how the topic compared to last year (e.g., more of a concern, less of a concern, or unchanged). On the topic of Death Claim processing, nearly half of the respondents indicated that they were “more concerned” than the prior year.
- Tax Reform Impact: When asked how significant an impact the TCJA had on “YOUR BOLI”, most respondents indicated a “Minor Detrimental” impact (6). Only 3 respondents chose “Moderate Detrimental” and no one selected “Significant Detrimental.”
- New BOLI Purchases: Most respondents indicated that their institutions were Very Unlikely to purchase new BOLI during the next 2 years.