Infinite Banking: Why?

Some of my friends are interested in Infinite Banking, but wonder why they should do it.  It's not right for everyone.  It requires discipline, it is for the long term, and if understood correctly as a way to both pass wealth to the next generation and teach the next generation how to manage money, it's a great tool that does better the longer you work with it.  Here are some factors to think about

1. You or your financial adviser can always generate a situation that is better than Infinite Banking.  However, you are not comparing similar investments.  While IB is not an investment because it is really a life insurance product, that's part of the point.  There is almost no risk.  The good life insurance companies that a knowledgeable producer would use have been around over 100 years and paid dividends that whole time.
2. Using a well funded whole life policy and not just an off the shelf whole life policy allows you to have greater cash value sooner so that you can borrow against the policy. The greatest value from such a policy is if you use it for your cash needs and not just let it sit, so it's almost impossible for a traditional financial adviser to show you a true comparison.  The more you use the cash, the better your real return is.  
3. The death benefit becomes almost simply an added benefit, but an important one for the next generation.  You may not "need" life insurance after you turn 65 or so, but why not provide for the next generation or the one after that (or the one after that).  Of course, you can always leave it as a legacy to a charity as well.  
4. The life insurance doesn't have to be on yourself.  You can buy it on a child or a grandchild.  It's cheaper insurance and you still have the use of the cash while providing what could be a substantial benefit to the next generations.
5. I've heard of producers who will write their wills or trusts such that the beneficiary is required to put the proceeds into another similar policy so that the benefits continue generation to generation.  

These are just a few ideas.  The possibilities are almost limitless and can apply to almost anyone who can fund a whole life policy.  The benefits may not be immediate, but they are tax-free, almost guaranteed, and can be passed down from generation to generation, and you have control of your money.