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DEFINITION of 'Bank-Owned Life Insurance-BOLI'. A form of life insurance purchased by banks where the bank is the beneficiary, and/or owner.This form of insurance is a tax shelter for the administering bank, as it is a tax-free funding scheme for employee benefits.Next Up.ll premiums paid into the fund, as well as all capital appreciation, are tax free for the bank. Therefore, banks can use the BOLI system to fund employee benefits on a tax-free basis.
Sovereign Wealth Fund. A government-owned company that invests that government's excess reserves. That is, if a country has a current account surplus or a positive balance of trade the government may deposit the excess funds into a sovereign wealth fund.The funds are invested in securities, companies, or projects in order to increase the government's net worth.hat is, if a country has a current account surplus or a positive balance of trade the government may deposit the excess funds into a sovereign wealth fund. The funds are invested in securities, companies, or projects in order to increase the government's net worth.