How to Improve a Credit Union Life Insurance Policy for Executives

One of the original intentions has always been to leverage life insurance-based executive benefits, such as collateral assignment split dollar plans, to retain a credit union executive. However, these plans generally come with floating maturity dates that may not be tenable long-term. So, what happens when the original goal of these benefits changes; for example, when an executive considers leaving the organization sooner than expected or for other reasons? In these scenarios, credit unions have historically been forced to keep a less desirable asset on their balance sheet—until now.  Jay Rogers, senior executive consultant and director of business development at Stearns Financial, shares how credit unions can now use a new strategy to create or modify adaptive life insurance-based benefits plans that are attractive to credit unions and executives. Stream the episode to learn how Stearns Financial is helping credit unions remove the risks inherent to traditional life insurance-based benefit plans to create more value for everyone involved.