Phase Two — Implementation

MCAS assists in all aspects of the implementation of a BOLI program. A BOLI program is active as soon as the premium is wired, and the funds begin earning interest immediately. Our support reduces the amount of work for bank executives, allowing them to focus on other responsibilities.

Participant enrollment

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MCAS ensures that the enrollment process runs smoothly, while also helping you understand what is involved in the program. A customized communications program is developed to facilitate the education of all participants. All communications are tailored to your bank’s specific culture. An MCAS representative manages and tracks the consent process.

 Product placement

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Once you decide to implement a BOLI program, the product placement can be completed quickly. The premium allocated to the BOLI policy is immediately invested to the policy specification.

Policy Issue

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Once the consent process has been completed, MCAS notifies the carrier and makes sure that the policy issued accurately represents, in every detail, the program that was created and the enrollment that was engineered.

Documentation

	•	Regulatory Once the program is in place, MCAS works with the bank to complete both a regulatory manual and an administration manual. The regulatory manual documents the ongoing due diligence process and demonstrates compliance with all regulatory guidelines.
	•	Administration The administration manual is a reference tool for the bank, which contains all policy information and all other pertinent data for the ongoing plan administration. This documentation ensures that bank officers and directors, as well as regulators, understand the transaction. It also enables administration and oversight of the program to be delegated, if appropriate. In addition to the documentation, we are always available to answer your questions.