Heated Debate Between Whole Life Agent and Dave Ramsey
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SUMMARY
In this video, Dave takes a call from Russ, an insurance broker from Salem, MA. Russ calls in to get some clarity on Dave’s principles and specifically discuss some of the life insurance advice that he found on DaveRamsey.com that he doesn’t agree with.
HEATED DEBATE WITH WHOLE LIFE AGENT
Russ’s first point: Insurance brokers do not recommend life insurance as a whole. No two personal situations are the same, with variables changing in everyone’s different lives, so life insurance policies should not be a static entity.
Dave refutes by explaining that it’s not true that no two financial instances are the same because the basic principles of mathematics and personal finance are always consistent. A good example is the use of a credit card—there is no time that using a credit card is a reasonable, responsible choice. The same logic applies to whole life insurance.
Russ’s second point: The cash value of a life insurance policy is not a bad investment. The rate of return gets better as the policy ages, and the premium payments stay the same. Whole life insurance is considered to be a product that’s priced indefinitely.
Twenty-year level term insurance is about 5% of the cost of the same amount of whole life insurance. You don’t need life insurance for your whole life—you should not pay 95% more per month for 60 years! With term life insurance, when you die, your beneficiary gets paid. If you die with whole life insurance, your beneficiary gets paid only the face value even though you’ve paid 20 times that for years!
RESOURCES
Learn the real truth about life insurance here: https://www.daveramsey.com/blog/the-truth-about-life-insurance
Learn more about whole life vs. term life insurance: https://www.daveramsey.com/blog/term-life-vs-whole-life-insurance
Life insurance is NOT an investment. Watch Dave explain: https://www.youtube.com/watch?v=fEXookeA2Ok
THE DAVE RAMSEY SHOW
The Dave Ramsey Show channel will change the way you experience one of the most popular radio shows in the country! Watch video profiles of people just like you as they call in from Ramsey Solutions to do their debt-free scream live. The show streams live on YouTube M–F from 2–5pm ET! Watch here: https://www.youtube.com/channel/UC7eBNeDW1GQf2NJQ6G6gAxw
Видео Heated Debate Between Whole Life Agent and Dave Ramsey канала The Dave Ramsey Show
Don’t waste money on whole life insurance. Get a term life policy today: https://goo.gl/LFpCEj
SUMMARY
In this video, Dave takes a call from Russ, an insurance broker from Salem, MA. Russ calls in to get some clarity on Dave’s principles and specifically discuss some of the life insurance advice that he found on DaveRamsey.com that he doesn’t agree with.
HEATED DEBATE WITH WHOLE LIFE AGENT
Russ’s first point: Insurance brokers do not recommend life insurance as a whole. No two personal situations are the same, with variables changing in everyone’s different lives, so life insurance policies should not be a static entity.
Dave refutes by explaining that it’s not true that no two financial instances are the same because the basic principles of mathematics and personal finance are always consistent. A good example is the use of a credit card—there is no time that using a credit card is a reasonable, responsible choice. The same logic applies to whole life insurance.
Russ’s second point: The cash value of a life insurance policy is not a bad investment. The rate of return gets better as the policy ages, and the premium payments stay the same. Whole life insurance is considered to be a product that’s priced indefinitely.
Twenty-year level term insurance is about 5% of the cost of the same amount of whole life insurance. You don’t need life insurance for your whole life—you should not pay 95% more per month for 60 years! With term life insurance, when you die, your beneficiary gets paid. If you die with whole life insurance, your beneficiary gets paid only the face value even though you’ve paid 20 times that for years!
RESOURCES
Learn the real truth about life insurance here: https://www.daveramsey.com/blog/the-truth-about-life-insurance
Learn more about whole life vs. term life insurance: https://www.daveramsey.com/blog/term-life-vs-whole-life-insurance
Life insurance is NOT an investment. Watch Dave explain: https://www.youtube.com/watch?v=fEXookeA2Ok
THE DAVE RAMSEY SHOW
The Dave Ramsey Show channel will change the way you experience one of the most popular radio shows in the country! Watch video profiles of people just like you as they call in from Ramsey Solutions to do their debt-free scream live. The show streams live on YouTube M–F from 2–5pm ET! Watch here: https://www.youtube.com/channel/UC7eBNeDW1GQf2NJQ6G6gAxw
Видео Heated Debate Between Whole Life Agent and Dave Ramsey канала The Dave Ramsey Show
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