misleading I hate his life insurance videos.

I love how he assumes John Q Public is going to "invest the rest". Very few people do. They spend it all, outlive their term, and then can't health and/or income qualify for anything but a burial policy.

Use the policy value to pay the premium…do you really think there will be cash value when they want to cash in?

A properly structured and leveraged Indexed Universal Life Insurance policy can provide tax free growth and effectively manage risk. It's all about structure and the right company. It is true that many cash value life insurance policies are bad, but when done correctly they are a truly phenomenal retirement vehicle.

If it's so bad why don't people Sue

Horrible advice!

Although Dave's advice is to the caller is fair and measured, not all whole life insurance agents are crooks. There are circumstances such as the funding of final expenses where purchasing a whole life policy makes sense, predominantly due to (a) the desire for the client to eliminate the risk of outliving term insurance, and (b), the client is in poor health, and would have no chance at an advanced age of qualifying for anything other than a whole life plan with easier underwriting qualifications due to health issues. Plus, there are some people so set in their ways that saving money is an unrealistic expectation.

The biggest issue with this policy is that it was improperly designed from the outset. Potentially hundreds of thousands of people 60 and older have universal life insurance policies that will end up doing the same thing at some future date, where the costs of insurance exceed the premium outlay, and eventually cause the policy to lapse. I've seen it numerous times working with seniors and their life insurance. Many were sold a bill a goods and have no chance of recovering, considering advanced age and poor health.

Life insurance brokers have always had a bad rep,David just show why.

Dave Ramsey is way off base on this and should not be giving any life insurance advice. Life insurance policies can be structured to be guaranteed premium and with or without cash value at the time of death. Many things effect the “cash value” of a life policy like someone taking a loan against the cash value. This alters the policy illustration and therefore alters the monthly or annual premiums. Life insurance serves a great service to people. And Dave Ramsey diminishes this and unfortunately is giving bad advice.

Even at 12% it's 71,000. Dave come on man!!!

She would have about $44,000 saved up with an average of 8% return with compound interest. If she took $77 per month.

If your UL is set up right and you overfund it while you work you can pay little to no premium later. As long as you have Cash Value in the policy, it remains active.

Dave is being paid by a company who pushes Term because Term pays out less than 3% of the time. Of course the company wants to push Term, because they only have to pay out 3 out of 100 times. 97 people paying for it that will see little benefit.

Love your show Dave . My son is 25 & has a paid in full 10k life insurance policy with cash value of 3k I believe. Just wondering if it would be wiser decision to cash in this policy & start investing it into growth funds ? Thx for any thoughts

I would say the best thing to do is to treat cancer the only way it can be treated by a good Nutritional Doctor, get healthy, cancel the stupid insurance and cash it out, use the money to invest and your returns will be higher than $80k

I was suckered into this policy during my early years in the military. The rate was a guaranteed 4% annual interest so I may some… some, but not a whole lot of course. I'm retiring from the service in a few months and was wondering if I'll be able to rollover my cash amount into some sort of fund for investment, or will I need to cash it out and pay taxes?

Please HELP! I'm currently searching to buy life insurance but I'm having a really hard time understanding life insurance and this conversation made it even harder. They put in $16000 in 20 years and their cash value is $6000 (don't hit me if the numbers are a little off) so their insurance cost is $10000 had he died pay out would had been $80k. If they had bought term for $16K over 20 years we a pay out of $200K, now the policy ends and they insurance cost would be $16K. How is term better? In this case I don't think buy term and invest the rest doesn't apply because is not enough money. Also had they invested $16k over 20 years with a 12% annual return they would have $70K but would have to pay taxes on that. Guys what I'm missing here? Help!

Funny, I see full blown advert for term life insurance, yet you call the entire industry a rip off, something don't add up. Shame, you were a good listen before, now you sound so arrogant

Hey Dave I have 2700 in car debt with an interest rate of 34% should I try and get a lower rate then attack the debt or should I just continue to with the loan i currently have.