Dave Ramsey Laughs at Investing in a Whole Life Insurance Policy

http://www.integritymarketingseo.com Dave Ramsey Laughs at Investing in a Whole Life Insurance Policy. Learn more about Investing, Retirement, Life Insurance, and Personal Finance 101 here @ http://www.youtube.com/personalfinancemoney. Term Life Insurance, Whole Life Insurance, Dave Ramsey, Suze Orman, Variable Life Insurance, Debt Consolidation Loans, Debt Solutions, Mutual Fund Investments, Auto & Homeowners Insurance, Long Term Care Insurance, Pre-Paid Legal Services, Fixed Annuities, Variable Annuities, Financial Planning, Retirement Planning, 401k rollovers, Roth and Traditional IRA http://www.lifeinsuranceira401kinvestments.com/riverside-ca

Comments

1. I get the stigma with Universal policies. Most people shouldn't have one. Unless you plan on massively over funding it to the point that the insurance costs don't matter to you and you simply use it as a tax haven for your lumps of money then a universal life policy isn't for you.
   
   You'd be better of with a dividend paying whole life that guarantees 4% with the potential for 7% with dividends. It will give you the growth potential an IUL will without the downside of potentially making 0%. That and the built in costs don't go up every year.
   
   For term only guys. Can you show me a conservative portfolio for your market adverse client that gives a potential of 7% growth with no market risk what so ever? If not then stop recommending mutual funds as the only way to go.
2. POOR financial advice from a non life insurance agent. This is BAD advice as everyone has a different need and objective and to lump one thought as Gospel for all to adhere to is grossly IRRESPONSIBLE!  My advice, if you want to learn advantage strategies, stay away from SHAME RAMSEY
3. yes, the guy on the 'investing' channel, sponsored by investing ads, tells you not to buy a guaranteed product, but 'invest'. remember the fine print that they always choke on in small print letters: past results are no guarantee of future returns!
4. I can't bellieve how many people here really don't know how whole life really works... It's still an insurance!!! It doesn't make sense why in WL, UL, VL, VUL, EIUL you will only get the Death Benefit if the insured dies. Minus the money they withdrawed (loaned) or whatever they owe on a Grace Period. So there is really no investment there in WL. Clients are just BORROWING from their Cash Value. Buy Term Life Insurance and Invest the Difference!
5. Nick you're right! I agree with you but have you heard of a tool called self directed IRA? You can get 8%+ or higher on your retiremement account if you control it with a self directed IRA. You can buy anything from businesses, gold, collectibles, oil, and even real estate (thats my shameless plug) :P look it to it... on top of that you can grow it tax FREE if you structure the self directed IRA by using a LLC.
6. dave ramsey you are a nut. Not everything works the same way for everyone... everyone's needs are different. If Dave and Suze Orman preach that you can get all of these 8% returns... or higher (by the way you often have to pay taxes on these returns unlike returns in CV Life insurance on Death Benefit, Cash Value, and CV from paid up editions) than why would you ever rush to pay off a mortgage in 15 years if you can get a return that is better than the interest rate on the mortgage. THINK!
7. Actually, Mr. Crawford, if the client can swing it, they should get a permanent policy when they are young and healthy. As long as they are not smokers and are not very overweight, they can get highly rated and would carry that lower premium for as long as the policy remains in force. If they are on a tight budget, term would be the way to go. Also, consider a additional term policy to make up for any coverage shortfall.Good luck with your practice!
8. The point is, and if my instructor was correct calling insurance a forced savings account, wouldn't it be better, and more American spirit of freedom, to allow people the option to invest and save as they choose, than force the issue? Of course, that's what made me a 'bad insurance agent', I never like the forcefulness, and near bully pulpit of the agents I was training under and so decided it was in my best interests to do something else. I don't want to get rich, I just want to help people.
9. Plus, if all that insurance is, is investment in the Stock Market (which Term isn't because it doesn't put the money into an account like WL does), then wouldn't it be less expensive, and more personally beneficial for a person to cut out the middleman and make their own investments? Or, if they don't like gambling, not to invest, if possible, and just have an option to just keep their money in a non-interest savings account that they can add into whenever and by how much they want to?
10. Would add that 'in theory' doesn't necessarily mean 'in practice'. Again, this goes back to working with an individual to see what is their investment needs, or what they want to invest in and why. It may turn out that WL is better for them than Term, or the other way around. It may also turn out that an alternative method of investment would be much better for them than what they initially were looking into. Maybe an IRA or CD would be better. Who knows? Until you talk to them, no one does.
11. i do agree with some of your points...the major challenge with term is most agents who sell it do not have a securities license to help the client "invest the diff"..but in theory this method is still the best choice for most people since WL companies invest in the same stock market everyone else does, so a person can just invest their own money without needing to purchase a high dollar WL policy. term, like anything else, is best used when a person plans ahead
12. You don't want to keep a universal policy. Before it starts devaluing, you should change to a different policy. Universal's good for when younger, but as you get older, should change to a different form. Whole life is the most stable. There are annuities that can be put on a policy for life benefits, as well as to keep from outliving your policy. But, if you don't want cash value at all, term is the way to go. Just like if you don't want to have to mow your own lawn, rent an apartment.
13. The only good thing about term, is if you are young, have a family, but don't have money to invest in whole or universal life. At least if something does happen to you, and you keep up with paying for the premiums, you have something to protect your family. But, like renting an apartment, you keep giving money to your premiums, but you don't gain any asset or cash value to gain and use as collateral, like you could do if you own a home and pay a mortgage. It's term for a reason.
14. It is really pathetic to see someone has to bad mouth others to make himself feel better... what a miserable human being. Good night and may inner peace be with you...
15. One last thing... now I know why Citigroup is dumping you guys... it's because there are people like Mr. A1prime1 working there!!!! So sad... have fun MLM scheme...
16. Do you know a lot of your comments were been flagged by You Tube as Spam??? I guess You Tube knows bunch of garbage when they see it!!!
17. By the way... Mr. A1primw1... do
18. Oh by the way a1prime1... first of all, do you know the stock price today for your company is $21.65??? AND do you know Citigroup is dumping and offload the remaining 8.1 million shares of the stock??? Wow... if like what you are saying is true... every other company who sells permenent policies are crooks... and people are flocking to your company... then...why... just why... citigroup is dumping you guys like hot cake??? Um... just make people think.... Ouch... that hurts!!!
19. This is sad.... really really sad a1prime1... calling other people whom has a different belief then you are "clowns"... in fact, you ARE the "clown"... and also not a very smart one, too...!!!
20. Ah... a1prime1... I rest my case... go and enjoy your life as you see fit... and I wholeheartedly hope your client won't be regretting their decision of buying from you years down the road. Peace....