A firm has developed a voluntary, non-qualified deferred compensation plan that will be funded with corporate-owned life insurance.

Clark Consulting Inc., Dallas, is using a variety of strategies to hold the cost of the new R3 program down, to make it more affordable for midsize companies.

The program includes all the tools needed to present, sell, implement and administer non-qualified plans, Clark Consulting says.

The program lets clients customize the non-qualified plan design and the level of COLI funding, the firm says.

In the current version of the program, the COLI arrangements use variable universal life products.

Fees will be based on assets under management.