If another tree grows from the same rootball after a season of fruit production, I wouldn't think of it as "dying" after producing fruit. Its like any perennial plant, it dies back in winter, or after a cycle of flower/fruit production. I'm sure the Land guy is technically right, it's just not how I would phrase it. It "dies back", but it doesn't "die".
We have a banana tree as do many others in our area (near to Kentucky and in the same zone). Most people take their trees into the house in the winter but take them outside in summer. You can either do that in a large pot or dig them in and out. They have a surprisingly small rootball--actually it's almot nonexistent. When you buy one or dig one up you get a trunk with some roots attached. One woman I know found bananas on her "tree" during the winter as it lay in storage on her cellar floor. Most of the people I know don't get bananas ever though, just a beautiful plant with tropical foliage. I wish I could show you the trees that grow at the entrance to our state fairgrounds. They are huge, I have no idea how they keep them protected all winter. I think they must cover them with a temporary greenhouse or something! I will look for a picture. This is in southern Illinois btw.