Great video – down with the insurance liars…

In the early 80s, we bought whole life– the year our daughter was born. Ten years later, instead of getting sucked into using the money paid in to continue with the program, we took the money! They said that they could use our almost ten thousand dollars to keep paying the life insurance and we would be covered for years without ever paying another penny. But it didn't pay out for death due to war, and we were in the military. Note: My husband had purchased the insurance, not I. At least he wasn't sucked into to their continuation plan. Too much screaming from me, I guess. We got back everything–money they got to use interest free for ten years. It was like having your mom hold onto part of your pay each month to keep you from wasting it. The money came in handy because we had three kids by then. Still, we would never recommend it or go back and do it again.

whole life is like throwing your money in a whole,,,,,,terrible product

The problem with your argument is that most tetm policies don't pay out and their costs will rise EXPONENTIALLY over time
You're also overlooking the estate plan benefits of WL, and it doesn't require anywhere near 900 per month. Your assumptions are MASSIVELY exaggerated.

PLEASE PROVE ANYONE CAN EARN 12% ANYWHERE YEAR AFTER YEAR…
Show us then a 30 year proven track record of what your proposed plan would have ACTUALLY EARNED with the amount you would be investing

My mom has a Globe Life, Whole Life insurance policy that she she's been paying for years. Its $28.00 a month. It started as a policy that would pay $5,000 upon death. They recently let her know that it will now pay $10,000, for the same rate. The longer she lives, the more it will pay. How is Term Life better than that? Unless you're planning on taking out short term insurance on someone and then killing them?
My Mom's insurance is designed to pay for her funeral when the time comes, and I think it will give her a nice one.
My understanding of Term Life is that you buy it for a certain amount of time, you pay every month and then, if you're still alive when the "term" is over, it goes away and you have NOTHING!

How much insurance are we talking about for $900.00 a month, term and whole life? The average person doesn't need that much insurance. If you have that much money to invest ($180,000 a/yr), what are you insuring really? 62% interest on a policy loan, who does that? I somewhat don't think this is totally demonstrative or representative of the pros or the cons of insurance. The product(s) that you choose have to match your situation and life goals.

obviously you only did enough "research" to misunderstand Permanent life insurance. Its very clear you have no understand of the tool. Yes its a tool and it compliments a financial plan, including stocks, mutual funds, 401(k) s and so on. It is it not to compete but to be used as a tool. Best of luck with your strategy of buying term and investing the difference.

SUZE IS A SCAM ARTIST, GOING TO JAIL TIME FOR HER!

Whole life SUCKS! it is the WORST insuance anyone can purchase! Dave and Suze are Correct

Whole life is trash!! I would never recommend it for anyone…

thank you!

The only reason insurance companies can afford to offer hundreds of thousands of dollars in term insurance is because only 2%-8% of people who have term insurance ever collect… Most people outlive their term and need more coverage at a higher rate when their term expires. There is no guarantee that one is eligible after their term is they don't lock in permanent rates. The best way to determine which is best is to evaluate need, ability to pay, health profile, and how the numbers stack up over time, not a cut and dry absolutist bias for or against. Term may be appropriate in some cases when there is a need to cover large liabilities that reduce over time. Whole life is usually best for final expense and other needs.

Excellent presentation on the Whole Life Lie.

Whole life insurance pays dividends. Also, I believe when you pull out money from the policy as a loan. The interest you're paying is going to the policy owner which is you, not the administrator which is the agent. I'm not 100% sure but will investigate more.

I stopped listening to Dave Ramsey after 2 debacles this guy made. First he turned everyone into a bank called Perk Street financial. about a yr later it went belly up. This was three months after I opened an account. the 2nd was a software product that showed you how to pay off your mortgage and other interest related debt in about a 1/3 of the time in many cases and he called it a scam. My month reduced her mortgage balance by 4k in 6 months with that program and was on coarse to pay off her home in 9.2 yrs instead of 28 yrs. I don't follow his advice at all…

Lol I misread the tittle thinking is stated "… Ramsey sues Orman…"

I can't wait to see the video about alternative ways to invest.