Life Insurance

I've Been Investing $1,000 A Month Into Whole Life Insurance

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  1. If you really need a tax advantage plan get Equity indexing Universal Life unlike a Roth IRA it allows you to touch 100% of your capital and capital gains at any age plus it allows you to contribute more than a Roth IRA all with no Market risk but yet you get all if not most of the interest credited by the S&P 500 plus a death benefit and long-term care protection

  2. Wow i thought Dave was more informed on whole life. The guy could borrow 100k against his cash value and the 135k would still earn more interest than the loan he takes out. Dave it's called life insurance not death insurance. You seem stuck on the death benefit

  3. Its not an investment, its an asset. You don't 'invest' in whole life policies for the return, you do it for tax efficiency and safe growth as part of a full financial plan.

  4. In less than 60-seconds you witness the worse advice WITHOUT so much as a thorough review of the man's policy who clearly stated he did not have in front of him. Dave, perhaps the only advice to give people is stop calling in👌

  5. Dave Ramsey is straight up about managing your income, no tricks just hard work and sticking to your budget, base on bible principles, he teaches you how to have money and a peaceful life handle it, thanks dave Ramsey what you teach us is more realistic.

  6. We are paying for 2 insurance policies. One is term life and the other is accidental death. We just got these policies and I can't even tell you how much I am a lot more at peace knowing I have these two items in place that if and when something happens I will have something of a financial cushion and my premiums are low and affordable. I would like to get a whole life policy but I am not young, therefore my premiums would be very high. I would advise to get whole life when you are young, when the premiums are low and it will be worth it in time as you will then have some cash value you can tap into, then you'll still have your Face amount minus the cash you took out. Life insurance has also changed with the times and Dave Ramsey is not qualified to make statements as to the state of affairs of life insurance. He apparently has no clue how it works.

  7. Dave doesn't really understand insurance. This guy should have gotten into a Index Universal Life. Which would possibly have a much higher value. The way the caller discribed it that may be what he has. 90% of the clients I meet don't understand what they signned up for 10 years ago. Before he cancels and I'm not saying he shouldn't, but he needs to understand what he currently has. It may be a million dollar policy.

  8. this really shows that this show is nothing more than a facade…telling people that this is bad and term is good is costing most people 100's of thousands of dollars. Like mutual funds are a good idea? LOL Mutual funds are the most fee loaded places to put your money and when you go to use the money you can only pull off 2-3% of your nest egg

  9. It’s true with whole life policies. When you die your family only gets the death benefit. Whole life’s are outdated IUL’s is the way to go! 100% of your money when you die goes to your family and it’s all Tax free! Any mutual funds when you die your family gets taxes on that good ol Dave Ramsey!

  10. We all need to realize that there are people who are too lazy to educate themselves and are totally biased that no amount of research or data can prove them and Dave wrong. Never mind that there have been studies by PhD’S that prove buy term invest the difference is a farce. Yes, banks have trillions in cash value life insurance and Morningstar has done studies that show that you should replace a portion of your bond portfolio with whole life. But of course Dave is smarter than PhD’s, Bank of America and the analysts at Morningstar.

  11. jUST FYI ABOUT NY LIFE AND AARP INSURANCE: My name is Rene Vasquez, Son of Wilhelmina Vasquez a long
    standing AARP member. Wilhelmina passed away in December of 2018 at age 92. She
    had purchased a Life Insurance policy through AARP underwritten by New
    York Life in February of 1998. The Face Value of the life insurance policy
    Was for a Total Value of $7500.00.

    After reviewing the policy, it was determined that Wilhelmina had paid $15,060.00 for this $7500.00
    Coverage. This was a policy she had that we were unaware of until her death.

    There was no limitation on the amount she would have paid
    into this policy, if she had lived longer. Apparently it was her fear that if
    she had stopped making the monthly payment, she would not receive anything from
    the policy. A call to New York Life at 800-260-8865 and from the wording of the
    policy, verified her fears.

    This is just a cautionary tale for the elderly and people in
    general. Not all organizations that purport to be watching out for you, truly

    Rene Vasquez

  12. Insurances agents make tons of money on Whole Life and Universal Life policies, which is why so many agents here are slamming Dave.

    From Investopedia:

    *Example: Insurance Sales Commissions

    Bob the insurance agent sells Sally a whole life insurance policy that covers her for the rest of her life as long as she continues to make her premium payments. Bob's insurance company pays a 90/5% commission on whole life policies, which means the selling agent receives 90% of the first year's premium and 5% of future renewals.*

  13. This guy is insanely uneducated. I feel bad for anyone taking him seriously. What a shame… You're making money off of terrible advise with no backing. Not even a notion of this guy's personal goals, and the percentages you "calculated" don't factor in paid-up additions and no 10 years of whole life insurance cash value is the same. What a complete load of garbage, haha.

  14. Dave’s sponsors don’t like life insurance therefore Dave can’t like life insurance as a supercharged saving account. Dave’s masters tell Dave what Dave likes.

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