Why Whole Life Insurance Is A Rip Off!

https://www.youtube .com/watch?v=l5sdPYveXeU

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39 thoughts on “Why Whole Life Insurance Is A Rip Off!”

  1. I’m paying for 100k whole life insurance and I pay $52 a month at age 22rn for the rest of my life. I could die at age 90 and only have spent a total of $42,432. Thats so worth it for my family, on top of the company dividends I receive which I just reinvest for my beneficiaries to take over. It all depends on where you are at in life but I wouldnt talk down on either

  2. He is wrong. the cash value is added to the death benefit. So you actually get both the cash value and the death benefit no matter what. not saying everyone should get whole life, but the value really depends on if the insurance company is mutual (dividend paying). it bothers me to hear him talk because he holds no licenses.

  3. I love how condescending he is while being completely wrong. Lol. Self insured is probably the most absurd thing I’ve ever heard. Wealthy people use the leverage of Whole life, the ones that could self insure but know it’s stupid. Also, Dave has deals and get paid to promote term insurance, so think about that. If you structure a fully participating whole life policy, it will be one of the best financial products in your portfolio. That’s keeping in mind you can find it. Saying one type of insurance is good for everyone is another laugh out loud statement.

    1. You know what’s funny I just got my license a week ago and I know paid up life insurance gives you an increasing death benefit. Why he would advise someone to try to get the same outcome from a level benefit and do it so arrogantly is scary. I feel sorry for people who are taking advice from people like this.

  4. Now, I know better. Term life insurance is cheap for young age with no kids. if nothing happens within the term years, the money will go back to a company. It’s win win both, but now I’m old, my age is older than 42 yrs old, it’s very hard to find reasonably price premium. I supposed to never listened to this guy.

  5. Learn how to use whole life as an investment vehicle. More wisdom from Ramsey if you want to be middle class or below. Nice job Ramsey. Not all whole life polices the same and you must know how to invest your money yourself to truly make whole life policies powerful.

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