Why Dave Ramsey HATES Whole Life Insurance!

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Information Why Dave Ramsey HATES Whole Life Insurance!

Title	:	Why Dave Ramsey HATES Whole Life Insurance!
Lasting	:	9.23
Date of publication	:
Views	:	147 rb

With all due respect for mr ramsey, i disagree on the term of " all insurance" i can agree with whole life policy, but regarding about term and IUL correctly made for the person needs, its a great option Other details that mr Ramsay's don't mentioned its the fact that investments got taxes responsabilities And doesn't matter " how much has grown" depending of your taxes brackets we could be talking about 20 to 40 of taxes, also that the downfalls of investments of full investments products I would love to see a good debate between Mr Ramsey and a Insurance companies to see how much mr Ramsey reputation like a bully its gonna continue 😂
Comment from : Realmiketv

The comments in here are so ignorant I feel sorry for people just trying to learn something have to try to figure out who to believe and have idiots like Dave muddying the waters for them
Comment from : Oblivion Tactical

Btw if you think you’re getting educated on this subject from Dave think again All he’s doing is misinforming you He doesn’t even understand it himself so how can he explain it
Comment from : Oblivion Tactical

Dave Ramsey hates whole life because he clearly does not understand it So many false statements He has zero licenses, or credentials, yet people still look at him like he’s some Guru There’s far smarter and more qualified people out there
Comment from : Oblivion Tactical

Dave Ramsey owns 2 whole life insurance policies with northwestern mutual and mass mutual
Comment from : Sean Sweeney

If anyone doesn't like the idea of cash value, why don't you look up how Disney, JC Penny, and McDonalds were originally funded
Comment from : Matthew Aldinger

He says when you die they keep your money? I guess he forgets the whole purpose of life insurance Dave says that if you have $200,000 of cash in a whole life policy that has $1,000,000 in death benefit, you lose that $200,000 No, you won't lose that money Your beneficiary will receive $1,000,000 tax free If you put that money into a savings account like he says, it will be subject to taxes and who ever inherits that money will only receive $200,000 minus taxes
Comment from : Matthew Aldinger

I would implore people to do their own research before believing any of what he is saying In a sense he is right but doesn’t explain the whole picture
Comment from : Matt A

You can set up a custom whole life solution for your kid the day they are born Pay it for 20 years When they are 20 they can get the cash value of the insurance at that time, or they can leave it for a guaranteed 10x growth by the time they are 65 Imagine putting $50,000, over 20 years, and having your child be able to withdrawal $500,000 for retirementbrbrbrbr I don’t know about you, but I would not mind an additional $500,000 in retirement brbrPlus the dollar amount scales with how much you put into it Whole life is a long term investment similar to any other retirement vehicle
Comment from : Matt A

Well, that was a mile wide and an inch deep of the facts
Comment from : David J Boozer

Tik Tak… i just love Dave 😂
Comment from : Rickita Realtor & Credit Repair Expert

I don’t get it
Comment from : Alyscha Johnson

Dave hates WL because he doesn’t offer it
Comment from : Gabagool

Same reason I hate any life insurance with "cash value" Not to mention other stuff too I've seen my parents pay their whole life for this product go well into their years and their premiums gets jacked up or they get dropped brUpon breaking down their policies, I saw how crappy these kind of product is
Comment from : Master Xiong

I pay $100 for 3 different policies 😂 fkk term i started at 25 and you can say that im overpaying But its chump change and as long as i keep paying im locked in Im the event i die my wife and kid get 200k+ we grew up poor and i know thats enough for them to live a good life We dont need a 2 million plan when we have a home in the US and in the countries of our fathers We can happily retire on 15k a year if it came down to that Whole life is a bad investment, but it should never be your only one anyways, its just a back up But i do need it Ill never have 2-5 million in my portfolio So i just need it to cover me if i die or until my kid can be self efficient
Comment from : Xilence Red

It probably isn’t a good investment if you’re young, but that doesn’t help those over 65
Comment from : Dee Dee Mann

For some reason I still don't get why Dave is so opposed to Custom Whole Life Maybe someone can help breakdown the reason I could care less about the death benefit and I will never borrow against it The way it was explained to me over a decade ago is basically you fund it every month and can start carving it off kind of like a pension/income at a certain age based off of the illustration at the beginning I am contemplating surrendering the policy and just taking the cash value and putting it all on my mortgage Any thoughts for or against that?
Comment from : Jett

Thanks so much! Suddenly people around me suggests this kind of whole life insurance products for tax benefits Now I know what this product is Thanks for your insights and I'll definitely stay away
Comment from : Larry Yang