This week we’re going through some of the most common myths and misconceptions about IBC. Some come straight from client questions and learning events, and plenty come from what’s floating around online. A lot of them stick because they sound reasonable until you look at how a properly designed IBC policy actually works. We take on a few them this podcast, say where the confusion comes from, and talk about what we’ve seen in practice. If you’ve heard something about IBC that doesn’t sit right, this one’s worth a listen.

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You’ve probably heard this one before: IBC is caught, not taught. Where did that phrase actually come from, and what does it mean in practice? We get into how LSL thinks about it — and why “catching” it tends to be a lightbulb moment, one that changes how people see the uses of their policy and, for a lot of folks, marks a real turning point in how they run their system.

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This is one we’ve talked around plenty of times but never actually sat down and recorded on its own: annual prepaid interest. So that’s what we’re doing here. There are a few different ways to handle it, but we get into what it actually is, why it gets charged, why that charge actually works in your favor, and how each of us personally handles paying it.

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