This is Just Another Example of Why Whole Life Policies Suck!

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Life Insurance "dividends" are a return of excess premium.

This is like overpaying your income tax, and getting a tax refund, and being excited about it.

calebmallen
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who is going to check their whole life policies after watching this video ?

tareshtheentrepreneur
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For a second I thought he was going to say that's how the IRS operates, too, lol. It's true. So many people forget when the IRS gives you a refund they are only giving you your own money back because they charged you too much to begin with, and they can invest your money that whole time and just keep the interest.

hollybigelow
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This man wakes up at night in cold sweats thinking about whole life policies

VegasOriginal
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I sold life insurance awhile ago.These policies are a rip off. Most agents push Whole life and Universal life because they make big commissions om these policies. People think the extra money paid in is a savings for themselves. The only way to get that money is borrow it.

josephbranch
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Caller: "I have a whole life policy..." Dave: "I'm so sorry!"

eatpigsnot
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$40 per month at 10% compounded could have been $80k for her. Sad

KadooWilliamsENT
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I want a count on "better than I deserve". This man is the best

Questioneverythingx
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ive always known life insurance is a scam, thank you dave

StevenAlvarez
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Imagine she bought $40 worth of Walmart stock each month since 1992.

HoneyDooDoo
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Extremely insightful!!
Thanks again, Dave👍🏾

sparksays
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I have a universal policy and Ramsey makes me want to get rid of it.

josephmartinez
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Term Life > Whole Life. Life insurance should protect your beneficiaries if you die before expected. If you live a full life, your beneficiaries should have enough time to save up enough to support themselves (or you theoretically will have saved enough in order to leave them with a sufficient inheritance).

investinstyle-financeinves
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Great breakdown! 😊 It's important to educate ourselves and make informed decisions. 💪

ThaoWaldenberg-vjrp
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I love how John takes notes when Dave talks

DhazenD
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I like insurance. Insurance against debt!!!

armyguy
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Best "insurance" I paid.
Paid for my funeral expenses. My family doesn't have to worry OR deal with it.

azteca
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Its like leveraging debt, when even the IRS feels sorry for you and doesn't tax your holdings, you know you are getting hosed.

matthewmchenry
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I didn't realize Utica, NY was part of Minnesota.

spaceghost
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The opportunity cost of giving that company that money for 30 years instead of investing it yourself would make you sick and cry!

Oh_You_Know_