Infinite Banking System

[Franz Kafka]

Hello,
I'm just looking to get some feedback from others on the Infinite Banking System and what experiences they have had with it, or for individuals who are not too familiar with it, would like to learn more about it.

QMSFinancial21

It's a great idea. Great ideas, however, don't make great sales. You would think they would but they don't. I wish I had a great idea that made a lot of sales but unfortunately I don't. The only one I know is to ask a lot of people, get a lot of rejections and make sales to those who want to buy some life insurance. I really wish there was an easier way but so far I have found any.

 

[scagnt83]

First this should be in the life insurance forum, not the health insurance forum. IB is based upon permanent life insurance.

As a sales idea, im not a big fan of it. I know some who are, but I wouldnt do it.
As far as a concept, it works. Especially in a par WL account that does not recognize loans as a deduction of CV for dividend purposes.

But there are a lot of scams out there to using home equity loans to fund LI for IB and crap like that. Those are bogus, just like most stuff of that sort.

But again, if you have the income level, it works as a standalone concept.


I believe that I started a thread on infinite banking a while back and it showed some divisions on the subject on the forum... I stated that I didnt market it to clients; but was still called a danger to the industry just for wanting to discuss the topic if I remember correctly.... lol

 

[TaxFreeIncome]

Great concept and it works but not a catch all. You ALWAYS have to make sure that your client understands what they are buying and also that the concept is suitable for that particular client.