Once again Dave shows a lack of understanding on how whole life works. They don't keep your cash. They give you the cash + net amount at risk – any outstanding loans = death benefit. One way to think about it is that you are in essence becoming self insured (isn't that what Dave preaches?) As the cash in the policy grows the amount of insurance needed grows less. If it's a participating policy the death benefit can actually increase.

2.5% of all term policies get paid out. The biggest money maker for insurance companies. Whole life policies that are PARTICIPATING are great! Ramsey never Brings that up. If you want to leave money for your love ones that is tax free and avoids probate whole policy that is participating is a great well to go.
Cash value and dividends is what you get with a participating company. They are hard to find but you can find them.

Dave doesnt seem to understand WL insurance. Lol! He was insured the whole time and can get his money back plis some… Thats a good deal.

I sure hope that caller doesn’t have any medical issues preventing him from obtaining any other life insurance or else Dave would have a nice lawsuit on his hands. Wait, he wouldn’t because he doesn’t have a fiduciary responsibility to his callers because he isn’t a financial planner. He’s just the guy at the water cooler that people think are investment savvy.

why pay 1000 for a whole life. and then get nothing when you die, is it for the investments option? so you can get money from it? it makes scence forr someone who knows how it works, TERM LIFE AND INVEST THE DIFFERENCE, why not get term ins, for $50 or $60 insted of $1000 and invest the $960, for those 10 yrs he would have saved $185,217, with the 9% rate of return, at the end of those 10 yrs there is no need for life insurance, but instead keep saving, or get a cheaper life insurance, and when you pass away THE BENEFICIARY GETS GET THIS, THE FACE AMOUNT AND THE SAVINGS , be smart and do not give away your hard cash earnings, remember insurance is just insurance to protect, cars houses and the income that comes in to the house, does the insurance of the car return your money if you do not crash? i guess not AGENTS OFFERING WHOLE LIFE DONT EVEN KNOW EXACTLY WHAT THEY OFFER, THEY JUST MAKE BIG PROFITS,

Sad. 1.2%? I made 15% in a deferred comp fund last year.

have you ever wondered why WL policies are always so small? you hear about $25K $50K every now and then $100K policies, why? CUZ THEY ARE SOOO FLIPPIN EXPENSIVE. chances are you couldn't afford a WL policy that is 10X your income. it would be bigger than your mortgage payment.

I would keep it

I paid off 200 000 in debt in 3 months on a 40k a year income thanks to dave Ramsey

Working with an advisor that is part of the SmartVestor network cannot guarantee investment success or that financial goals will be achieved. There can be no assurance that working with a Dave Ramsey SmartVestor Pro (SVP) will produce or achieve better results than working with an advisor not affiliated with the SmartVestor program. Advisors that participate in this program pay a fee to belong to the program for client leads that are provided. Dave Ramsey and the Dave Ramsey SmartVestor program is not affiliated with Cetera and ELA Financial Group, Inc and is not sponsored or endorsed by Cetera nor ELA Financial Group, Inc.

Zander Insurance just informed me that I cant be covered… Im a disabled veteran and young. What do I do now?

Wow!!! Dave's reaction got me before the caller!!!

So if he cancels he will get back all the payments plus more and he was insured for the last 10 years. But if he had a term policy for the past 10 years and canceled he would get back nothing. How is this bad?

Wow that sucks! Thanks for the clarity on whole life

thats insane…….