Is Whole Life Insurance Ever A Good Idea?

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Is There Ever A Good Situation For Whole Life Insurance?
Don’t waste money on whole life insurance. Get a term life policy today: bit.ly/2CmkuN1
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Опубликовано:

13 ноя 2019

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Комментарии : 527

@JWalton314 4 года назад

I just read a book that said Whole Life was good in certain cases. So I dove a bit deeper on the subject and the guy who wrote the book became wealthy by selling Whole Life insurance lol.

@stevee8318 4 года назад

As someone who works in the insurance industry, buying insurance as an investment is just such a stupid idea.

@paulleonardo4906

I just canceled my whole life policies. After watching your videos I started examining the policies, you were right, they're just a horrible product.

@LyonsArcade 4 года назад

There's one reason to have Whole Life Insurance : If you already have it, and you find out you're dying and can't get other insurance.

@elgatodeoro05 4 часа назад

Here is the problem. No body but NO body ever saves the difference from the term policy to invest. This insurance is not for the average Joe, so please always be clear. Your products are for the poor class just like your advice about credit. SO who is the deceiver then???

@alexcollins9577 4 года назад

Most whole life sucks. There are a few select highly reputable financial companies that sell whole life policies in which the death benefit increases as the cash value grows, at a guaranteed rate of return that will never go down. Is it a way to potentially make tons of money in the market? No. Is it a conservative way to build wealth tax free that is also distributed tax free, while the death benefit grows if provided by the right company? Absolutely. Term is so cheap because it is designed by the insurance companies to not pay claims. 3% of term policies ever pay a death benefit.

@MightyGreenLantern17 3 года назад

It's worth noting that one of Dave Ramsey's sponsors is Zander insurance, which is a term only company

@xavierjamal8755

If you’re buying it as an investment tool of course its not fully worth it. But most poor/ middle class people don’t buy life insurance for that type of investment. I swear dave is in his own world lol. Everyone is not gonna be financially free. Some people just need something to look out for their family

@trevorgilbert524 Год назад

Whole life isn’t made to be an investment people. It was made to take care of final expenses. You know the expenses people leave behind to their loved ones? Term doesn’t usually work for this tho because it cancels at age 80 and you have to be very healthy to even qualify for term.

@scubasteve7816 4 года назад

It’s not 20X more expensive. You didn’t know mathematics in college? Term Insurance is almost guaranteed NEGATIVE 100%. Dave is giving cookie cutter advice. I sell tons of Term Insurance. Cash value is NOT 0 0 0 in the first 3 years. NOT TRUE.

@mikechet49

Dave is absolutely right on this. Cash value life insurance is a scam. Buy term.

@ContessaVanessa 4 года назад

Lmho @ "I hope I was clear" at the end of the video 😂!!! No Dave, tell us how you really feel 😂😂

@slyfoxx2973 4 года назад

Come on Dave, tell us how you REALLY feel.

@theofficialgaro

Thank you for sharing this information. I recently was reached by a sales person who identify himself as a financial consultor. As soon as I started asking questions about the numbers outside of the memorized script I saw he started to scramble. He started to deviate my attention back to his script and I stoped answering his calls because he was avoiding to provide clarification on my questions about the numbers. Later I found some valuable content like yours and confirmed about this scam happening. Now they sell themselves as "Financial Advisors". Please keep doing this type of content to help people not to get in this scam.

@hannahstephenson7572 3 года назад

i just finished my first year teaching and i’m 23. they sent through my school system a free consultation with financial people to help with retirement.

@kenkrahl9005 2 года назад

So if someone can’t qualify for Term due to age or health, they should just proceed to be uninsured. If people are 70 or over, they should become uninsured at 80. 🙄

@richp5064 4 года назад

What Dave is talking about is a traditional WL policy. Not a high cash value policy set up for the infinite banking concept. Dave needs to read the book become your own banker by Nelson Nash.

@alvinohata4223 2 года назад

Dave, I agree with you a 100%. Before I got into real estate, I sold term life insurance from a company whose founder was a former college football coach, initials ALW.

@mrstinky2421 4 года назад

He is ignoring the return on Death benefit. Decent product for high earner looking for legacy planning. Partner it with a trust its a good plan but only for people subject to estate taxes.