I disagree, but only slightly. Systems can be good 'training wheels' to help agents be more effective communicators of various concepts (which is what Insurance Pro Shop teaches), but I don't like being dependent upon them. As Scagnt83 said - those that sell this concept, don't need a system to do it. They've learned the ways to communicate it in a simple way so that the right prospects that should understand it, do understand it.
Since Infinite Banking is about borrowing/repaying loans against life insurance to preserve the lifetime compounding growth of the cash values... just compare/contrast it to what they should already know: 401(k) loans.
- repaid with after-tax dollars (to be taken back out fully taxable in retirement)
- Original balance is reduced by the amount of the loan
- Limited to two kinds of loans at a time (personal & residential)
- Must be repaid in order to borrow again
- Subject to market fluctuations
- Still repaid with after-tax dollars, but an income tax-free cash flow in retirement
- Original balance NOT reduced for purposes of dividends (non-direct recognition WL or variable loans on IUL)
- Can have as many outstanding loans as you have available cash values
- Does not require repayment to borrow against available cash values
- With Fixed life insurance (WL/IUL) there is no stock market fluctuation to original balance.
The biggest downside with WL/IUL, is if you cannot maintain the policy and the policy implodes. That would cause all outstanding loans to become income taxable in the year the policy implodes (that's a problem).
, I keep looking at that site - and while it's generally well designed, I don't see "a system" being promoted on it.