What Every Agent Ought To Know About
The Infinite Banking Concept...
‘Becoming Your Own Banker’

About The 'Infinite Banking' Concept...
Becoming Your Own Banker - Infinite Banking Concepts, Tips and TrainingIn 1994, Nelson Nash self-published his book 'Becoming Your Own Banker', based on what he called the 'Infinite Banking' Concept. Since then, there have been several other people who have written books, are promoting and are training financial advisors on how to make sales with the Infinite Banking concept, using cash value life insurance.  Now, there's 'Money for Life' by Jeffrey Reeves (my personal favorite); 'Bank On Yourself' by Pamela Yellen; and 'Discovering Hidden Treasures' by Dan Thompson, just to name a few.

Understanding The 'Infinite Banking' Concept...
The premise is that most people are spending huge amounts of money each year on financed debt for large purchases, such as homes, autos and major appliances. During their lifetime, the interest paid to financial institutions for these items can add up to hundreds of thousands of dollars for families.  Unfortunately, this financed debt is what is keeping most people from saving for their future.

The average family is not able to save any money... because they’re spending approximately 34.5 cents of every dollar on interest, to finance their lifestyle through banks and finance companies.     

What if it were possible for these people to recapture the principle and interest that they are paying to banks and finance companies, and they were able to put that money away for their future?  

By creating their own personal private bank, using cash value life insurance, they are able to take loans from their bank.  Then, each year as they repay the principle and interest, it's going back into their policy, where it's growing tax-deferred and can be taken tax free for their financial future.   

How The 'Infinite Banking' Concept Works... 
Simplistically, to create your own personal private bank, you'll want to sock away as much money as you possibly can, as quickly as you can, into a good participating (Dividend paying) whole life policy.  You funnel your money into the whole life policy for five to seven years.  You over-fund the policy up to just below the MEC guidelines.  Then, whenever you need to make a big purchase, you can borrow the money from your own personal bank, instead of borrowing from a commercial bank. (or a credit card company, etc.) 

Now, you pay the loan back to yourself, plus the interest you would have paid to the commercial bank.  You are now making the big profits on your money, that the bank would have made. Consider, whenever you make a purchase you are financing it.  You are either paying interest to someone else - a bank, credit card company, etc.  Or, if you pay cash for your purchase, you are giving up the interest you could have earned on that money.

The ‘Infinite Banking' Concept Isn’t New...
Variations of this concept have been used by many of the industry legends for at least 40 years, by people like
Mehdi Fakharzadeh, Woody Woodson, John Savage and Ben Feldman.  Forty plus years ago, these industry legends would explain to their clients how the money they're putting into their participating whole life policy could be used for emergencies, to take advantage of business opportunities, to fund college, to buy a car, and much more.  However, if you take money out prior to age 65 (retirement) you’ll want to pay the loan back, plus the interest, so you will have the retirement funds you planned on.

It Works Better Today...
As well as the concept worked 40 or more years ago, it works much better today because of the paid-up additions rider that was introduced in the late 1980’s.  Today, using a paid-up additions rider, you can dramatically over-fund a participating whole life policy up to the MEC guidelines and make it an exceptional wealth accumulation vehicle.

Why Use A Participating Whole Life?
The reason you use a participating whole life policy is that it offers several unique benefits, the other investment vehicles don’t offer... 

  1. It builds a liquid cash reserve of safe money.  Generally, it can be accessed within 5 to 10 business days.   

  2. Cash Value Life Insurance guarantees your investment principle, and offers you minimum growth guarantees for the life of the contract. 

  3. You can put in as much money as you want... limited only by the size of the whole life policy, which you can make as large as you need. (Not so, with qualified plans)  

  4. All of the money you put into a cash value life insurance policy builds tax-deferred.  You avoid paying income taxes every year, so your money builds faster.

  5. You can borrow the money from the policy tax free, without having to qualify for the loan and without contractual withdrawal penalties.  

  6. There are no early withdrawal penalties from the Federal Government. (Not so, with qualified plans or annuities)   

  7. Loans against the policy come from the general assets of the insurance company, and not from the policy cash values.  In many cases, you can actually be earning more on your money than the loan is costing you.    

  8. The policy is self-completing, because you have a disability waiver of premium rider that will continue to put the money in for you, if you ever become disabled.  (Only life insurance offers this unique benefit)  

  9. Life insurance provides a death benefit that gives your family the money you intended to save; in the event you can’t be there.  

  10. In most states, life insurance is not attachable by creditors.   

  11. Life insurance cash values don’t count as an asset when applying for college financial aid.

The Problems With Using The 'Infinite Banking' Concept With Your Prospects...
There are several problems that most agents struggle with, using the 'Infinite Banking' Concept… 

  1. The first problem is finding and attracting the people who have the 'discretionary dollars' to fund their own private bank.  The prospects must be willing and able to put away large sums of money.  Unfortunately, this severely limits the amount of prospects available to you.  And, it puts you in direct competition with all the companies and advisors working the more affluent markets.

  2. They'll tell you the 'Infinite Banking' Concept only works with a good participating whole life policy!  (Possibly, because they want to recruit you to sell their products.)  The truth is, this concept works equally well with a good Universal Life Policy.  (Except for some of the guarantees)  And, in some cases, because of the flexibility, a Universal Life Policy will work much better than a Whole Life Policy.  For more information about using universal life you should read 'Last Chance Retirement' By Brett Anderson    

  3. The 'Infinite Banking' Concept' is a great strategy, but it's just a sales strategy, to be used once you are in front of the 'right' prospects. (Infinite Banking is NOT a marketing or lead generation program to attract the right prospects to you. And, it DOES NOT teach you how to set the appointment, or do a good fact-find to help you to help the prospect to identify and understand their problems.)      

  4. Most of the organizations that are promoting and training agents on the Infinite Banking Concept are charging $400 or more per month and/or they want you to contract with their companies. (with reduced commissions.)

The Secrets To Making The Concept Work For You...
The beauty of the ‘Infinite Banking Concept’ is that with some small modifications, and the right training, almost everyone can use this concept... to truly help their prospects.

As stated earlier, to make this concept really work means putting all the money your prospects possibly can, into a good cash value life insurance policy. (Participating Whole Life or Universal Life)  Now, if you want to help the greatest number of prospects, not just the more affluent, you must help your prospects to ‘FIND THE MONEY!

You can help them do that by: 

  1. Helping them to first eliminate their debt.  Can you show them the logic behind refinancing their home for as long as they can, or taking out an home equity loan to pay off any debts, to free up those payments, to funnel into a life insurance policy?  

  2. Showing them how and why to increase all their deductibles and delete any unnecessary riders on their existing insurance policies.  Do they have any unneeded policies?  Can they use their dividends to pay up their existing policies and/or funnel those dividends into the new policy?

  3. Temporarily stopping the contributions to all their qualified plans, except for any amounts that are being matched by their employers.

  4. Finally, can you help them look for other ways to cut their expenses?  Can they get a better long distance carrier for their phone service, etc.? 

Learn the Infinite Banking Concept.  Use it yourself.  Then, help your prospects to ‘Find The Money’ to implement the concept. They’ll be your clients for life... And, you’ll get tons of referrals! 

 Review of the Infinite Banking Program...
'Becoming Your Own Banker'

Remember, Infinite Banking is just a life insurance sales concept that helps you to present safe money concepts and solutions to your prospects, once you are in front of the right prospect.

Besides being very expensive, with ongoing annual fees...

  1. The Infinite Banking program DOES NOT provide you with the marketing and lead generation tools and methods you need to consistently attract your 'IDEAL' prospects to you.

  2. The Infinite Banking program DOES NOT, teach you how to set the appointment, or do a good fact-find to help you to help the prospect to identify and understand their problems, so they want to set better financial priorities and take immediate action on your recommendations. 

  3. The Infinite Banking program DOES NOT show you how to 'Find The Money' to fund the concepts you have learned.

We highly recommend you take a hard look at our Found Money Management Advanced Life Insurance Sales Toolkit. Our system includes a dynamic 'Living Debt Free and Truly Wealthy' PowerPoint sales presentation with 'Creating Your Own Bank' that you can use with clients or in workshops. We also have information booklets based on 'Creating Your Own Bank' that you can offer to prospects, to get them to see you as the expert, so they want to meet with you. And, we have a simple sales presentation to help you to consistently close more and much larger life insurance sales.

Plus, you'll want to look at our How To Close '9 Out Of 10' By Asking The Right Questions DVDs. 

Using our affordable, 'Turnkey' Found Money Management program, with our training, within 30 to 60 days you’ll be attracting more of the very best life insurance prospects to you, and be selling much larger cash value life insurance policies. (Participating whole life or universal life) 

And, you'll be really helping your prospects to 'Live Debt Free and Truly Wealthy!'  You'll be putting them on the road to true financial freedom!  

We’ve been using and training agents on variations of the 'Infinite Banking Concept' for over 30 years to help prospects qualify for college financial aid, reduce debt and accumulate great wealth.

And, you can too...

We Have Kept Our Services Affordable For Everyone

Please consider, we could charge you $3,000 or more upfront, with annual renewal fees for our proven sales systems and training, just like everyone else does. And, we could cater to those few agents, advisors and planners that can afford our services. Or, we could recruit a few agents, advisors and planners and require them to contract with us to receive our systems and training, so we could make an over-ride on their business.   

However, this isn’t about us making a fortune. This is about us giving back to this great industry and trying to make a difference.

We created the Insurance Pro Shop because there is a serious lack of any real, creditable insurance marketing, prospecting and sales training in this industry. So, we decided right from the beginning that we wanted to give as many people as possible the best opportunity to succeed and earn a significant six-figure income. Accordingly, we are offering our proven systems and training at a fraction of the cost of everyone else. We even offer affordable payment plans.

We look forward to helping you to earn the significant six-figure income you have been dreaming about... and deserve!

Yours in success,
Jeremy & Lew Nason
The 9 Out Of 10 Guys...

P.S. Check out our life insurance systems and training below, because during the past decade we've helped hundreds of insurance agents, financial advisors and planners EACH YEAR to double and triple their incomes within 60-180 days ...even in this recession!

The top advisors, we worked with last year, earned over $1,000,000 and many others who were earning $50,000-$70,000 per year, now earn $150,000-$350,000 per year. And with our ongoing one-on-one help, you can do the same. And we’ll be by your side every step of the way.

Not sure we can help, or if our services are right for you...
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You'll Learn...

  • About A Virtually Untapped Market For Selling Cash Value Life Insurance!

  • A Simpler Way To Find Prospects and Close Sales For Infinite Banking, Missed Fortune, etc.!

  • How To Help Clients To 'Find The Money' To Take Action On All of Your Recommendations!

  • How To Create A Constant Stream Of Referred Leads!

  • Dozens More Critical Steps to Taking Your Cash Value Life Insurance Sales to Dizzying Heights!

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How To Close '9 Out Of 10'
By Asking The Right Questions

"I’ve written over $270,000 of life premiums in the past two months..."

Randy Delph, RFC, LUTCF, FMM - IN, "Thanks for everything. I’ve written over $270,000 of life premiums in the past two months since attending the boot camp in December... ($190,000 in commissions) Freedom Equity Group has asked me to do a teleconference to explain how I’ve accomplished this dramatic increase in my business. I’ll be recommending your Found Money Management system and your boot camp to everyone on the call." Randy Delph, RFC, LUTCF, FMM - IN, (Freedom Equity Group)
(35 years in the business)

Tony Brazeal, RFC, RFP, MDRT - TX"I am finishing my finest personal production year ever"

"I am finishing my finest personal production year ever, and that is directly attributable to the change in marketing efforts I have instituted since meeting Lew and Jeremy. (7/2008) After 25-years in this business I guess I have proven that you can teach new tricks to an "old dog."
Tony Brazeal
, RFC, RFP, MDRT - TX, (25 years in business)
 President, Pathfinder Group, LLC a national brokerage agency

"This year our life production is up almost 100% over
last year and I believe it will double again."

Richard C. Moldenhauer, CLU, ChFC, RFC, CEP, "Dear Lew; As you are aware I have been in the industry for 39 years and am a consistent MDRT ‘Top of the Table’ qualifier. I have spoken at MDRT, and at several major companies top producer meetings. In 2000 I went from being a Agency Development General Agent to a Personal Producer. The transition was challenging, but it worked. The one thing I lost along the way was the focus on life insurance sales. I tried several refresher programs, and was able to modestly upgrade life production. Then I found your company. Eventually, I purchased several of your programs including ‘Found Money Management and How to Close 9 out of 10’.  The material is excellent and I have spent many hours reviewing it. This year our life production is up almost 100% over last year and I believe it will double again. Thanks for your personal consulting time, the programs and most of all your sincere belief in the good work you and your company are doing."
Richard C. Moldenhauer,
MDRT ‘Top Of The Table’ - NY
(39 years in business)

Brian Tracy, Renowned Speaker, Sales Trainer and AuthorEndorsement From A Respected Industry Leader

"With Lew and Jeremy Nason's exclusive Found Money Management system you can achieve more than you ever imagined possible!"
Brian Tracy, Renowned Speaker, Sales Trainer and Author
Tracy began his career in the financial services industry where he built a large
sales organization. He is one of America's "most booked" speakers.

Mehdi Fakharzadeh, RFC - "MDRT Life Member"Endorsements From Respected Industry Leaders

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RFC - "MDRT Life Member" "The most successful
living and active insurance sales agent in the United States."
Leader's Magazine

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