Bryn Mawr, PA (PRWEB) January 8, 2007
With industry premiums exceeding more than $5.2 billion a year, Bank-Owned Life Insurance (BOLI) is becoming an increasingly popular product. In an effort to help financial professionals learn more about BOLI, The American College Press announced today that it is publishing a new text entitled, "Separate Account Bank Owned Life Insurance, The Theory and Practice." To order the book visit http://www.TheAmericanCollege.edu
Tom Wamberg, CLU® wrote the book to help financial professionals better understand how BOLI works and the reasons why banks increasingly use this product. The book also helps readers navigate their way through the maze of decisions that must be made when purchasing a BOLI plan.
Bank-Owned Life Insurance has become a very popular tool for banks to finance the cost of employee benefit liabilities. Introduced in 1983, BOLI is now owned by more than 3,000 banks.
Tom Wamberg, CLU® is the Chairman and CEO of Clark Consulting, a national firm dedicated to helping companies keep their best people through integrated compensation, benefits, and funding solutions. Wamberg joined the company in 1977 and brings more than 25 years of experience in compensation and benefits consulting to the firm. He became Chairman of the company in 1995 and led it through a successful IPO in 1998.
"Tom's enormous intellect and expertise makes this complex subject easily understandable to readers," stated Larry Barton, Ph.D., President and Chief Executive Officer of The American College. "Any financial services professional who would like to know more about Bank Owned Life Insurance would find this book beneficial."
Wamberg is the past president of the Association for Advanced Life Underwriting, (AALU). He also has served as president of the 25 Million Dollar Forum, chairman of the Legislative Task Force and Nonqualified Benefit Plan Committee, and as a member of both a FASB subcommittee and the American Society of Pension Actuaries. Wamberg is a graduate of Baldwin-Wallace College in Berea, Ohio. He holds a bachelor's degree in finance.
He is also a frequent guest on such programs as CNBC's Power Lunch and Closing Bell. In addition, Wamberg serves on the Board of Directors of SIFE (Students in Free Enterprise) and on the Board of Trustees of the Cleveland Clinic. He is also the founder of the U.S. Charities Racing Team.
The book can be ordered online for $49.95 plus shipping. To order a copy, go to http://www.TheAmericanCollege.edu/tacpress/monograph.asp and click on the "Order Your Copy" tab.
The American College is the nation's leading non-profit educator of professionals in the insurance and financial services industry. Located in Bryn Mawr, Pennsylvania, The College is a public charity founded in 1927 and accredited by the Middle States Association of Colleges and Schools. The American College offers an array of specialized designation programs, Master of Science degrees in several disciplines and customized continuing education programs predominantly on a distance education basis for those pursuing a career in financial services. For more information, visit http://www.TheAmericanCollege.edu
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