Richard Canfield explains why clients typically start a second IBC policy within 2-3 years. As their family banking system grows, people naturally want to allocate extra money like tax refunds and gifts into another policy to expand their capitalization.
Chapters
If your brain is attuned to the idea that you want to grow capitalization, you want to grow the size of your family banking system, then probability is your brain's looking for a way or a solution on how to find more premium dollars to go and create another policy. That's generally what happens. It's something that kind of takes place naturally for a lot of people. And so because of that, we have a lot of our clients that will reach back out to us. And within the first two years or three years, they're often reaching out to their, their coach and saying, hey, I'm looking to expand my system. Can we get together for a strategy session and discuss it? And they'll already have an idea as to how they might be able to do that. Say, you know what? I realize every year I get a little bit of a tax refund. I realize that, you know, we get a bunch of money from, for the kids for birthdays and Christmas, or we're putting money into a kid's education fund, and we haven't really allocated that to help grow our system. Can we readjust how we're running that money and see if we can't find a way to create another policy? So we get these fun discussions that come up because people are actively focusing on how do I grow and increase my capitalization?
