Heated debate between whole life agent and Dave

Heated debate between whole life agent and Dave A Whole Life Agent argues with Dave Ramsey about whole life insurance, which Dave doesn't support. Whole life insurance is a huge rip-off. Check out The Rachel Cruze YouTube Channel for life and money tips! http://www.youtube.com/user/RachelCruze?sub_confirmation=1 ________________________________________________________________ Find A Financial Peace class near you! http://www.daveramsey.com/fpu/classfinder?ectid=70.11.914 Check out Chris Hogan’s book “Retire Inspired” http://www.daveramsey.com/store/books/retire-inspired-by-chris-hogan/prodD078.html?ectid=70.11.913 Do you want to take control of your money? Get “The Total Money Makeover” book here. http://www.daveramsey.com/store/books/dave-s-bestsellers/the-total-money-makeover/prodtmmoclassic.html?ectid=70.11.912 Do you need help with your taxes? Find an Endorsed Local Provider near you! https://www.daveramsey.com/elp/tax-services?ectid=70.11.910 Need help selling or buying a home? Click the link to find an Endorsed Local Provider in your area. https://www.daveramsey.com/elp/residential-real-estate?ectid=70.11.909 Do you have questions about investing? Let one of our Endorsed Local Providers help. https://www.daveramsey.com/elp/investing?ectid=70.11.908 IN THIS VIDEO: Dave Ramsey, The Dave Ramsey Show, Financial Peace University, FPU, The Total Money Makeover, budget, envelope system, emergency fund, baby steps, radio show, debt freedom, EntreLeadership, mortgage, ELP, daveramsey.com, money, finance, economy, investing, saving, retirement, cash, mutual fund, stock market, business, leadership, credit, drtlgi

Comments

1. he sounds like donald trump
2. conversation over dude
3. "You will still be a whole life agent and I still will be right" That's a perfect ending to an argument with a donkey...
4. The most important issue was not mentioned or addressed........ This is where Ramsey is wrong....... after 20 years of term you didn't build cash value....... now you're not insured anymore... which means you have to buy insurance again...BUT..... the insurance COST 20 years later is much higher and if your health is compromised you might not be able to qualify..... BUT if you have WHOLE LIFE your premium is low..... stays the same thru the years... you don't need to worry about underwriting qualifying ever..... plus the living benefit surpasses any RISKY investment with tax and fees..... This cash value you can use for whatever you want and gets really bigger and bigger .... plus a great benefit of DIVIDENDS as paid up additions than in themselves also produce Dividends...... I repeat Ramsey is WRONG !!!!!
5. So my question is if a person pays 150k into a policy and the beneficiary received 500k, Im confused where that was a bad thing.
6. im so glad i saw this video! im on my way to speak to a mass mutual agent. ive met with her multiple times... i dont think im going to buy. Thank You Dave! im 23, earned my career, i live in los angeles... its expensive but i want to be proactive. any suggestion as to what i should invest in. my parents let me live rent free. im very blessed so im saving plenty. my goal is to put a downpayment on a home within the next 3 years. ive already promoted at my job and i am now earning about 34k after taxes a yr. if i really save i believe i will have about 80k by 2020. what should i do??? please help
7. I think there are great arguments for an against whoe life coverage. That alone will tell you that there is no specific product that is better than the other and situations require specific products. Nowadays, with guaranteed universal life products that last to the age of 121 or your lifetime, there is no expectation of overfunding for cash value. So the argument of cash value is important, but if you want to have coverage for the rest of your life, you can do it without overpaying as you say with whole life. Alternatively, if a youthful purchaser I have foud that having a future non taxable bucket as an alternative for a taxable IRA or pension can be very useful when in retirement. Additionally, many of the policies today have combined other riders that help pay for long tem care when you get old and if you no longer have the policy that coverage would not be available.
8. Thank you for Dave for looking for us! This guys prepared for 35 YEARS and he lost the debate.  I signed up for Term.
9. Ladies and gentlemen it's the president of the United States. LOL
10. I'm not sure Dave Ramsey has ever looked at a whole life illustration... he does not understand life insurance, nor will he acknowledge that cash values GROW in whole life policies to represent the original death benefit PLUS every dime of the cash value PLUS guaranteed growth. It's truly a shame that he only recommends the kind of life insurance that is designed to EXPIRE before the insured dies, just like a warranty that expires before your appliance has a problem.
    
    There is a reason why the wealthy invest in whole life, and it's not because they're being swindled... it's because they know it's guaranteed and it's liquid, and they use it again and again to borrow against and take advantage of lucrative opportunities. Try borrowing against your 401(k)... LOL, it's not in your control! Listen to Kim Butler's Prosperity Podcast for the actual truth about life insurance and why typical financial advice doesn't work!
11. Russ, please never call again. Dave handled this like a boss. I would listen to him anytime.
12. I was studying for the Life&Health exam (AD Banker) and the study material states the owner can cash out a whole life policy at maturity or the beneficiary can receive the death benefit, but not both. Idk why this guy is claiming you can get both.
13. Just because the guy has a NY accent doesn't mean he sounds like Donald Trump.
14. Lol
15. This is comical. On the one hand, obviously there are clients for whom whole life is a good idea: people who can use it effectively to avoid estate taxes. But for that to work, you need to be on the hook for enough tax to offset the fees-- and anyone who has that kind of money isn't going to be listening to Dave Ramsey's free advice in the first place. And on the other hand, Ramsey's bringing up the red herring of "there's never a time when it's right to use a credit card" hurts his argument. OF COURSE there can be a good time to use a credit card. Here's one: when I decided to buy an overseas vacation home, I paid with credit card-- NO INTEREST because I paid it off immediately-- and here's what I got: a better exchange rate than any bank was offering if I sent the money directly, and more than $1000 cash back, with all the fees swallowed by the seller. In what universe would I have been better off paying a higher exchange rate AND not getting the $1000+ cash back just because someone thinks credit cards are bad? And again, bringing up the credit card example has NOTHING TO DO with the insurance argument, so it's totally unnecessary.
16. go Dave!
17. I love the "if it is set up right"...guess how many people I know that found out their Whole Life wasn't "set up right" or "appropriately" so they get both. it's a scam because they deliberately write it wrong and sadly many don't find out until it's too late.
18. I'm going to trust the agent to "write the policy properly" NOT!
19. I am a licensed life insurance agent. For a while, I ran pre-licensing training for life insurance agents in the state of California. I am qualified to judge this video. My judgment: Dave 1; Massachusetts life agent 0.
    
    Stay away from whole life insurance. For the cost of $100,000 whole life insurance, you can easily get $1,000,000 30- year term insurance. More money in your pocket, less money In the insurance companies' pocket
20. Trump(the agent) just wanted to argue with someone,so typical....