Perspective Essay

Theory

The Griggs Capital Strategies perspective can be broken down into three distinct approaches; first, to financial theory and strategy generally; second, to how we serve our clients; and third, to policy and system design.
The conventional financial paradigm teaches dependency on Wall Street and commercial banks. It leverages wildly complex regulations, tax codes, and engineered financial assets to confuse, discourage, and disappoint the individual.

In contrast, Nelson Nash’s Infinite Banking Concept (IBC) teaches the value (both monetary and intrinsic) of autonomy and authority. It advocates for understandable, uninterrupted, compounding capital accumulation under the private, guaranteed contractual control of the individual through dividend-paying whole life insurance.

The IBC solves the problem that the conventional paradigm is designed to produce: a state of severe under-capitalization. By implementing it, the individual defies the centuries-long trend of financial centralization. The reward is the systematic accumulation of purchasing power. The fact that this sounds like a foreign concept is evidence of the pervasiveness of the conventional paradigm.

Fortunately, we can opt-out of a system plagued by the dominance of fractional reserve banking and its attendant volatility and unpredictability.
While we understand that our clients may not share these deep convictions about the state of financial strategy, it’s important to understand that, like Nelson, we do not see the IBC as a sales tool for life insurance agents. Rather, we see it as a means of peaceful but defiant rejection of a ubiquitous financial paradigm that teaches compliance, dependence, and class immobility.

In this light, you might understand the passion and conviction of our founder Ryan Griggs in his public speeches, on podcasts, and of course, in his conversations with clients.

Our New Client Process

The so-called “on-boarding” process for clients in the conventional advisor-client context is often stiff and contrived. The salesman has a well-designed “pitch” in the form of a scripted presentation that is engineered to achieve a predetermined outcome in the form of a product sale.
We reject this approach.

Our New Client begins long before we come into contact with a potential client.
Ryan’s blog on the platform Medium features many essays on economics, finance, and the IBC. Since March 2019, Ryan has served as co-host on the Banking with Life podcast with his business partner and mentor James Neathery to share – in hyper-transparent, long-form fashion – his unscripted views on the IBC, financial theory, policy design and countless constituent topics. His seven-part, nearly eight hour Whole Life Insurance Mechanics lecture series that teaches his approach to policy and IBC system design from a practical perspective is freely available on YouTube.

These educational offerings are part of what we call our Literally Free approach to client education. That means no sign-up fees, no personal information collection, and no social media advertising tags (that means no “stalker ads” as you browse online). Nor do we engage in cold calling, mass marketing emails, or “networking” events.

This is deliberate. The approach is what James Neathery calls the “attraction method” to business marketing. If what you hear and learn from Ryan is appealing to you, we hope you’ll consider working with us to implement IBC in your own life. In short, we want to work with those who want to work with us.

Only then does something resembling “on-boarding” happen.

In reality, our New Client process is less “on-boarding” and more intensive independent study. Rather than a scripted presentation, we begin with your questions. Over a series of ensuing phone and video calls Ryan will explain his approach to things like company selection, premium design, policy structure, policy loans and interest, paying off debt through IBC, system expansion, intergenerational capital transfer, and more. Thanks to the internet, we can deploy this approach with clients in each of the United States.

The result of this process is clarity. You will understand why your policy or policies will be purchased from which company, what the right premium level is for you and your family, what the design of that premium should be, why we use certain riders and not others, what your contractual authority is and what your obligations are, how flexible your premiums are, how to manage your system in the event of income disruptions, and more.

The idea is to prepare you so well that you don’t need us to manage your policy, but to serve you so well that you feel confident and free to come to us for on-going guidance and assistance when necessary.

Ryan Griggs and the Nelson Nash Institute Board of Directors. Birmingham, AL, February 2020.

Our Approach to Policy Design

Contrary to the default opinion online, what counts as “IBC-style” policy design varies across advisors. We believe that philosophy informs and in some cases determines the company origin, structure, and the rights and obligations embedded within a life insurance policy.

Our philosophy is very specific.

Ryan wants you to have a system of policies wherein you can pay as much premium as you can reasonably foresee wanting the ability to pay in order to maximize your lifetime cash value accumulation while retaining favorable non-MEC status and maximum flexibility in premium payment.

Though it may not be immediately obvious, this philosophy has certain implications for the policy design and purchase process.

It means that there should be sufficient base premium as a percentage of your annual premium outlay. It means scrutinizing the terms and conditions of the various PUA riders at the different companies in search of maximum control and flexibility for the policy owner. It means taking a position on direct versus non-direct recognition. It means careful selection of term riders – when appropriate – and rejection of other superfluous, though popular, riders. It means a natural, proper time to expand your system. It means policies designed with the future – not just your present circumstances – in mind, and more.

Likewise, you will never hear Ryan promoting one life insurance company or another. We regard this practice as yet another marketing tactic, since there is no guarantee that the ideal company for IBC implementation today will be the ideal company a year from now.

We do not exist to provide free marketing for life insurance companies.

We exist to serve our clients.

Conclusion

We hope this brief essay helps you decide whether you might like to work with Griggs Capital Strategies to implement the IBC. If so, the first step is to fill out the Get in Touch form in the Contact section. If not, we hope you find the right fit for you and wish you nothing but the best in your journey to Become Your Own Banker.

First Time Visitors

Use this form to contact Ryan for the first time if you are thinking of working with him to implement the IBC and for all other business inquiries.

The Next Step

Already working with Ryan? Ready to move to the next step in Ryan’s process? Use this form to securely submit important, necessary data.