Why Dave Ramsey HATES Whole Life Insurance!

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[barttfisher]

The concept of mini-retirement changed my life. I'm no longer waiting for some retirement paradise when I'm 65. It helps to know how to fund the lifestyle. You know, making money while you sip that piña colada by the beach does help. I wouldn't have been able to do it otherwise.

[isaacl]

Best caller I’ve ever heard on the show. Guy was articulate, humble, and receptive. Came into this almost knowing he was wrong and just wanted Dave to clarify exactly why

[ToddSchultzNC]

A $1MM policy sounds insane to me. One of my finance professors once told us you don't want your family to be too happy you're dead.

[Bettydongliu]

Finally there is someone that can explain whole life insurance so clearly! Asked insurance agent so many times that how much of my premiums that I paid went to insurance and how much went to cash value investment and accumulation, they just avoided answering the question!

[mitchellpollock]

Callers caffeine kicked in real good just before the call

[rickycordero]

That "Tic Tac" line killed me! Hahahaha! I love it!

[elvdell]

Thank you for that. THAT was exactly what I needed to hear. I am at a point where I have term life insurance and I want to drop it. But I've been hesitant to do so. "Just because".... House is paid off, own my cars, 0 debt, recently retired and yes, I have invested and planned for my retirement. I've been asking myself just what the life insurance is for at this point. If I die, my wife can continue to live off of our currently in place retirement plan. So, I am glad you said this. Thanks a million.

[jeretso]

"Infinite banking is being made cool on Tic Tac" @8:55 "Tic Tac 🤣

[srujandesi]

"I Hate it.. Not a MILD Dislike" - Dave ramsey.. cracked me up.. LOL

[joshuab]

I was on a call with a rep of my brother's life insurance carrier through his Union. We talked about the policy and everything for over half an hour as though this was a benefit extended to me as his beneficiary. Then they lay down the price at the very end. Now it seemed reasonable, but then they dropped the term "Whole life" and i immediately got turned off. I remembered your teachings, Dave, and came back here to confirm my suspicions. I'm so glad i didn't enroll.

[Mike-]

When someone asks me about whole life, I tell them go see an independent financial advisor. None that I ever talked to will tell you to go out and buy whole life insurance.

[linuxsurfer]

$685 per month for insurance???? yikes.

[Jesse_Golden]

I think it's so funny he keeps saying tic tac not tik tok😂

8:59

[armored-clown]

This advice changes drastically for someone like me who basically can’t get any life insurance due to preexisting medical conditions. But I was able to get a few guaranteed policies through the VA, one term and one whole life which I will absolutely be keeping.

[auginater]

I'm 25 y/o just signed up for 20 year term $400, 000 coverage, I earn about 55k/year. I pay about 35/ month until i get my health evaluated where I hope to get moved up from non smoker classification to preferred where I'll then be paying $25/mo. My company brought in this whole life agent from New York life and I almost signed up for the maximum whole life coverage I could afford until I started researching life insurance advice and found Dave Ramsey. I'm feeling good that I made the right decision and will save $2000/yr compared to whole life

[yayyareaa]

Dave throwing me off without the headset on 😂 🎧

[whemieo]

Thank you for explaining… you saved me from stepping into it. I had seen an advertisement for this very thing but, wanted to know more before giving the company my contact information 😮

[sunnymagneti]

The cash value gets added to the death benefit. If you buy a 100k WL policy and over 20 years and the cash value grows to 50k. Your beneficiaries get 150k. By the way, its tax free with no market losses.

[LeaMencer-ovij]

Great video, very informative! 😊 Thank you for breaking down the pros and cons of whole life insurance. 👍 It's important to make informed decisions about our finances.

[IgoOutlateAtnight]

George's face when caller says 685 per month...lol...0:57