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

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Comments

1. He could of had way more money if he invested it, so sad, Dave just wanted him out and didn't wanna rub it in I know that ...
2. Financial advice from this idiot. He will regret getting term when he no longer is able to qualify for insurance and he start having financial needs.
3. If david ramsey got licensed, he would be in trouble with the department of insurance for lies.
4. Dave Ramsy is blind when it comes to building wealth. The Infinite banking system is the way to go to build wealth and keep it. Many of the wealthy understand this concept and use it.
5. I looked at one today, 40 yrs old, the cost for 500k was $400 per month. A smaller portion of the $400 is paying for the 500k life insurance and the larger portion is building cash value. In 10 years, the cash value is equal to the payments you have put in. You can pull money out anytime. The interest rate was 7.5 or higher and guaranteed not to lose money in a market crash, etc. The cash value is paid on top of the 500k death benefit. Supposedly the money growth is tax free on the plan I looked at. It gets more interesting if you elect to put in a lot more money on top of your premiums and get compounding growth. If you stop making payments, your life insurance will continue by drawing down a small portion of your cash value. Didn't sound too bad.
6. Either Dave needs to polish his understanding of Life insurance or this guy's Agent was a joke. If he had put it into an increasing Death Benefit Indexed Universal Life, he would indeed get both the investment gains AND the DB which historically is 5-10% annual yield, plus 10 years is often well outside any surrender charges etc. That's what you use as an investment vehicle, not Whole Life!!! Dave is certainly correct in the regard...
7. OMG! Dave Ramsey you have given this guy the wrong information on Whole Life Policy. You should be subject to FIDUCIARY guidelines for giving people financial advice. I personally have a whole life policy, its earning guaranteed rate of of return ever since I had it and its TAX FREE. I can see why financial advisors give you a bad rap on your show.
8. this video is BS do NOT listen..
9. Ramsey should be in jail.
10. God almighty Dave Ramsey is a royal idiot. What is this guy is on year 19 or a 20pay whole life policy and Dave says cancel it.
    
    You don't know the details of the policy, the riders, the man, his needs, wants, his family.
    
    Dave Ramsey shooting from the hip blindfolded into a crowd of onlookers. Don't be surprised when someone gets hurt by his antics.
11. Whole life pays face value plus paid up additions which is what the cash value goes towards. If you die, you do get the face and the amount of insurance your cash value buys. If you look at an illustration whole life death benefits by strong mutual companies have increasing death benefits.
12. dumb
13. why pay for life insurance do you really think u gonna die
14. I don't understand the bit where they keep your money if you die before retirement age. Can anyone explain?
15. I know a guy who sells whole life, the way he explained it to me is its a way for rich people to pay less taxes on their income. So I'm sure its helping the right people. Either way I don't make enough money to be foolish with it haha
16. The interest on "hole" life could be 4% or 14%, but no matter because the Ins. Co. keeps your savings. There is no good argument for whole life. It's the payday lender of the middle class.
17. He probably has enough paid up to stop paying premiums and still getting a decent guaranteed death benefit at this point
18. So if you have $500 k whole life insurance policy and you only deposit $200.00 a month into it, then you should be fine?
    I am lost here!!!
    I mean as long as you don't invest more than face value into it then you should be fine?
    I don't understand these products.
19. At that premium it's more than likely a paid up additions policy which returns about 6.25%, he has no idea though. Also lots of false info from Dave as he paints all whole life policies with one brush. But if it isn't a paid up insurance policy and just a regular whole life policy, definitely get rid of it, my god. Those are really only good as burial policies.
20. Really? You need to read Nelson Nash. If it's with a Mutual co. stay in it! How come banks buy a ton of it then?