IBC Set-up Checklist

--> Have you read or listened to *Becoming Your Own Banker* by R. Nelson Nash?

--> Do you understand how policy loans work (collateralized, not withdrawals)?

--> Are you clear that IBC is a cash management system, not an investment?

--> Will implementing IBC help you achieve your goals fast and with less risk?

-->  Are they IBC Certified from the Nelson Nash Institute?

-->  Do they live IBC?
-->  Do they recommend using IBC for Assets or Liabilities?
-->  Do they charge a fee?
-->  What is the process before and after I get a policy?

-->  Is the company a mutual life insurance company?
--->  Is your policy designed with IBC in mind?
-->  Can you take a loan within 30 days?
-->  Are the premiums both manageable and flexible?

--> Have you identified opportunities to use the cash value? (Passive vs. Active Investments)
--> Do you have a loan repayment strategy?
--> Are you committed to a long-term view (10+ years)?
--> Do you have a strategy to expand with additional policies (family banking)?

--> Does your coach guide you through the implementation process?
--> Will you receive annual reviews and strategy updates?
--> Do you have convertible term insurance to cover your family now and expand your banking system later?

--> Agent avoids policy structure or loan discussions

--> Low early cash value policies with high base premium

--> Agent pushing only one insurance company

--> Not using a mutual life insurance policy

--> Agent recommends any of the following:

• a policy other than Whole Life (IUL, VUL)

• you don’t need to repay loans

• your policy grows by taking loans to finance cars or debt

• tells you the premiums

• starts underwriting in the first meeting