Im an insurance agent. I always sell a 20 year term with living benefits as long as the person qualifies. I let them know, is not an investment, is a protection of your income in case you get terminally ill. Average pay is around $250 a month for $200k life insurance, and over $300k in living benefits.
That's the point, exactly that is the point. This guy also are telling several false statement over Life Insurance. It is NOT an investment, it is a financial "mattress"
@@alanrivera1477Would you be able to sale term life after 70's?, may be that is potential benefits of whole life insurance isn't it? $250/month it is almost $3000/Year which is a lot of you buying for two person - $6000/Year
Thank you I almost got a whole life insurance policy for investment purposes. I’m glad I saw this video before I signed anything. You have a new follower and subscriber. Look forward to learning more.
We've had people come to us with whole life policies where they've paid hundreds of thousands in premiums and have $0 cash value left over. It's almost never worth it
Term life is insurance for PURE liability purposes (mortgage, kids education, etc). Permanent UL insurance is a financial tool. What makes it great? Taxation. If I had $2,000,000 in an IRA when I died my kids would pay $600,000+ dollars in taxes. If I planned properly, I might have had $1,000,000 IRA and $1,000,000 permanent life insurance policy and my family would have had an extra $300,000 dollars. Taxation is what makes life insurance viable. Most people without a tax liability should just listen to Dave Ramsey. My $1,000,000 policy could cost me $100,000 in fees, but would still be worth it because my family gets more. A proper financial advisor (NOT Ramsey) will be able to run the numbers for you. And as a financial advisor myself, I can tell you without a doubt I would make more money managing your $2,000,000 in assets than I would to manage $1,000,000 in assets as well as sell you a $1,000,000 life contract.
Having term life insurance is better than not having life insurance and you're begging people for money on a GoFundMe account to bury a deceased loved one.
Clarence Stinson just had this conversation with someone who had to bury his 11 year old son. No life insurance and had to sell fish dinners to pay for the services. Term Life insurance costs pennies a month.
Unless you get old and your term life gets too expensive to keep and you are too sick to apply for more then you are forced back to GoFundMe and fish dinners. Death is a permanent expense everyone should have a whole life policy to cover final expenses no matter what the unlicensed entertainer in this video recommends.
My mother is 75 yrs old. She never had ANY life insurance. What she did 15 yrs ago, she paid for her funeral expenses. That's the best thing you could leave your family. Unless your kids are minors. I would go with term insurance for 20 yrs. And then pay for your funeral expenses
Azteca the thing for life insurance it’s to leave your family in a better situation than the current. If you love your family you will get a life insurance , just in case you die
Anyone who tells you that life insurance is a good investment lied to you. It doesnt matter how good they make it sound because it is a horrible idea overall. The only people who are benefiting from it are the people up top of the company that is selling it to you. People who sells life insurances are the only ones who tells you that it is a good investment.
The good advisors appreciate it. Dave investment based life insurance is only effective for tax advantaged purposes for high net worth individuals. Selling it to the middle class as an investment is for commission
Whole life insurance is a financing mechanism and can be used to fund living expenses, debt repayments, major purchases, and alternative investments like real estate. An even bigger pro, are the mutual life insurance companies that are non direct recognition where the cash value earns dividends even while borrowing against the policy. The accessibility of money while earning interest is what separates a whole life policy from a 401k and a Roth IRA. It’s very difficult to access money in a 401k without getting penalized and with a Roth IRA, the moment contributions are withdrawn, the money stops earning interest. I do agree with Dave’s point about switching to term insurance when it comes to maximizing death benefit. If the goal is to obtain maximum death benefit coverage, than term is the way to go. If the goal is to create a more efficient financing system where dollars are recycled and recaptured, then incorporating a whole life policy (preferably one that is front loaded such as an early cash value or 10 pay policy) in a financial plan can be very beneficial and offer individuals more flexibility and control over their money. The purpose for my comment is strictly for discussion and education only. This is not financial advice.
@@astroman30 this comment says it all. It completely negates the selling point of 'tax-free' when you have to fucking borrow and pay it back with interest. Regardless if the payback is flexible unlike borrowing a loan from a bank. And then if your are single with no beneficiaries... Like WTF?!
@@chrism3198I see it as saving more of your own money subconsciously because you are paying yourself. You aren’t held hostage to a term like a bank & after you put it back in the policy the value is STILL yours. Unlike a bank once the loan is repaid you’re left palms up, every cent is gone
Hi Dave, i love your channel and contected however in this case, I dont know what the situation is in the US, but in Canada it is NOT like what you are saying here Dave. We work for an independent brokerage and can sell policies from 6 major companies. We can sell any type of plan. We run illustrations looking at all the different plans, and Insured Retirement Plan beats everything else hands down. Term is cheap when you are your but of course gets more and more expensive as you age. With IRP the investment fund grows and eventually you dont even need to pay for insurance anymore because it becomes self funded. In some cases, 6 years of payment will result in life time insurance. If the fund value is higher than the face amount at death, the higher amount is paid out, not just the face amount like you said. But again this is in Canada.
What about overfunding a whole life insurance w/ a PUA. I’ve heard you can access your cash value faster & more if you properly set up the insurance w/ the broker from the get-go?
I buy homeowner's insurance every year and never made a claim. Does that mean it's' a bad purchase? It's a RISK MANAGEMENT purchase. Insurance buying for the sake of investment is stupid.
1. Money never enters the market - With an IUL, the money funding the cash value portion of the policy is never actually invested into the market. Instead, the insurer holds your “cash” and pays a return on the annual growth of a specific index. Anyone selling IUL are not required to have a securities lIC. 2. Growth potential is capped - While most policies have a “floor” of 0% which prevents your cash value from dipping below what you put into it, your growth potential is capped, too. For example, if your policy limits growth to 10% on the index and that index out-performs that percentage, you’ll still only receive the value of 10% in your account. The insurer keeps the difference. 3. No dividends - Dividends are completely eliminated in an IUL policy. Not having the chance to reinvest any earned dividends, as you could choose to do with an individual investment, means you could miss out on a great deal of money from dollar-cost averaging over time. 4. Fees, fees and more fees - IUL policies are packed with fees and charges that will eat into any cash value accrued. 5. Rising costs - The internal cost of insurance continues to rise as you age, which can limit the amount of money going toward any potential cash value. All universal life is A.R.T ( annual renewable term) PLUS: Almost all cash value policies have these “features” built in. • You’ll accumulate NOTHING in cash value for the first few years the policy is in force. • The cash value earns a lower rate of return (often just 2%-4%) than the potential return you could achieve if you put your money into a vehicle such as a Roth IRA in the U.S. • If you borrow from the cash value, you’ll pay it back plus interest. • If you die with the policy in force, beneficiaries receive the death benefit (less any outstanding cash value loan balance) while the insurer keeps any accrued cash value. Unless you have the increasing death benefit option (option b) the consumer will pay more for that option. The consumer always gets screwed when investing in these policies. The only winners are the agent and the company. The BS I hear all the time is it has to be "structured properly." I have collected 64 policies in the last year and I haven't I seen one structured properly.
@@astroman30as a fiduciary: What about overfunding a whole life insurance w/ a PUA. I’ve heard you can access your cash value faster & more if you properly set up the insurance w/ the broker from the get-go?
@@csavvthebarber3889 “access?” Giving away your money with only an option to borrow. In fact, paying an insurance company interest to BORROW against your own money. Does that really sound like a good idea to you?
Professional accredited investor here. Ramsey’s audience is lower middle class and honestly term insurance is best for them bc it’s more important to accumulate short and medium term savings before locking up money for the long term. Life insurance is a HORRIBLE “short” term investment (he mentions a bad rate of return) but an “AWESOME” investment if you can wait 20 to 30 years. The way a professional investor looks at any investment is by using the internal rate of return (that factors in costs AND overall return). Just look at the short AND long term numbers. He also says he bought a life insurance policy from NWM. He said he hated it. Honestly whole life is the safest product and it grows super slow (like CDs in a bank). I bought an index UL which grows faster but still has no risk of losing money in the market. So, it depends on who you are, if you’re buying it for protection or accumulation, and especially what your time horizon is. Always use an independent broker.
For my retirement plan I have a life insurance with an investment in it, also investment products such as mutual funds (mostly global stocks), then ETFs, two additional index instruments - total of 6 contracts that i have been putting my money into.
Permanent insurance is not always a high rate of return investment play. You are oversimplifying the complexity financial planning. There are living benefit riders that over long term care coverage, critical care coverage etc. that covers your investments and the rest of your assets. Also mutual funds are expensive and do not tend to outperform benchmarks over time. ETFs and index funds may be much more suitable that mutual funds that have an upfront sales charge and an annual expense fee… AND can incur captial gains charges every year.
Nah dude, trash value insurance is never a good purchase. The premiums are (at least) 20 times higher than term and the insurance company keeps your cash value. Try harder.
Its funny he mentioned Northwestern Mutual, I'm in the process of filling for term and whole life. Whole life till 65 an term life till 80. The discussion made sense to me. Any comments??
It's a 30 yr average not year after year. Of course the market is going to change. Even if you get 8% its better than 3% and the insurance company managing it.
This guy really hates life insurance... Yes, there are bad ones within certain companies but finding the right one can benefit you and your family tremendously in the future if either you die too soon or live too long... Always good to be protected
Mr. Ramsey, you’ve changed my life for forever with your wisdom-filled advice. I’ll always be grateful for it also. As a fellow-Christian, I’ll always endorse you for many, many years to come. However, when you say that a life insurance policy will NEVER pay out the face value in combination with the cash value within the plan, it’s. just. untrue. Thank you for everything that you continue to do, but please seek out just a bit more info to see that policies can, without a doubt, do that. God bless.
I should also say that most people aren’t going to live to 100. That’s why if you die before the policy is paid up, the insurer will give your beneficiary the death benefit in full. That’s why it’s called insurance. To cover the loss and to leave the person who suffered the loss in the same condition before the loss, not better or worse. So when you’re getting a quote, an agent will break down what you need, not necessarily what you want, based on the human life value or needs approach to calculate the amount of death benefit needed to cover the loss of your life. That way you won’t be over paying for life insurance your beneficiaries aren’t going to necessarily need when you pass away. Although the customer can choose how much premium and coverage their willing to pay for regardless.
In all do respect, I love information that Dave gives but I would have to disagree when he talks about IUL. IUL when you past away you do get the Death Benefit with the Cash Value. Term doesn't give you anything. Whole life gives option A. Which gives you only the Death benefit even if it has equity. IUL has option a or b. B gives you both CV and DB. Term can only do till 80 years old.
@@TheLoneWolfShow Of course, that why you diversify your portfolio. But to say only term life insurance makes sense is such a dangerous blanket recommendation. Can't give that type of financial advice like that with not much knowledge of people's assets, income, goals, etc.
Just check page forty-whatever of the contract to see how much interest they actually pay in the first five years. Usually, it's about 2% on the CASH VALUE, not the total amount insured. The cash value is a small percentage of the amount insured.
You're not wrong....but I didn't say one was better than the other. HOWEVER, there can be one that's better for you and your situation, sometime's it's both Back to the real estate analogy, if you can't afford to own or have a preference to rent, then that's the right move for you!
Get a new term life policy if u still need insurance. At 35, rates should b reasonable. 20 yrs later, when u're 55, u might not need insurance anymore because u have plenty of net worth because u never bought wholelife insurance.
aaajjworm At 55 it’s more than likely for funeral expenses (which never go away), portfolio protection in case you need an asset that is not correllated to the market in case of a market correction/recession, or a way to cover estate taxes/provide a legacy for your family or a charity. A strong portfolio can serve as a way to cover funeral expenses and be left to beneficiaries, but the other items I mentioned are best covered with permanent insurance.
Grant Johnson i'm not concerned with high net worth people that trigger estate taxes (5.49 million for 2017, right?) as much as I am for ppl with less than that. High net worth individuals will b able to pay funeral costs and leave a legacy for their heirs...no insurance needed at that point. Their net worth is higher than any insurance payout. Net worth basically takes the place of insurance. Why have a 500K wholelife or termlife policy if u already have 5 or 6 million dollars of net worth? Just have an up to date will and u can disperse to all your family and charities u want as needed.
aaajjworm net worth isn’t everything, you can have $10 million in real estate and no cash on hand to keep it all in the family. As for the need, there are a lot of things people own and buy that they don’t need, but they do it anyway. If you have one person who owns CVLI and another person with term and some extra spending money they use how they please, is one of them wrong? You or I might have an opinion one way or the other, but it really only matters that they’re being responsible. I’m more concerned if people don’t have enough than getting too worked up over what type they have. I will say however I have a 50/50 mix of term and permanent myself and I know why it looks like that.
Why would he own that trash? Whole life is sold so you can pay the insurance company premiums for your entire life. Early on you pay extra into the policy so your savings account grows. This is not so you can cash it out, but so the insurance company can take money from the savings to pay the high premiums as you get older.
It doesn't matter what Dave Ramsey says , or what anyone else says.. the correct information is out there on using mutually owned, dividend paying whole life insurance as a savings account on steroids.. that you're essentially building equity that you can borrow against. In doing this your money's compounding interest is never being interrupted. This is exactly like a house, you can borrow against it while the value is still growing... and tell me this, Dave, when you pay your house off and sell it, do you get money from just the buyer, or do you also get the money from the buyer, then go to the bank and get that money as well?? Of course Not! This is the same as not getting your cash value AND the death benefit.. people who are smart will build up their policy and draw from it in retirement TAX FREE:) Nelson Nash, who just died at the age of 88 is the godfather of how to use these CORRECTLY designed policies to be able to use as a banking, retirement, and estate system.. you have access 30 days after your start to some of the money you put in your policy if it's set up correctly. And yep, you do pay fees upfront and there is a loss.. but typically at the 3-7 year mark the compounded growth catches you up.. and then its gets crazy from there! Do your own research people.. where do you think the commercial banks store all of there reserves? Check out James Neathery, Ryan Griggs.. and most importantly Nelson Nash. Just like anything in life, spend the time doing your own research.. please.. and thank me later :) God Bless
Thad Lozensky when you sell your house you don’t take the equity and the house do you? In a true whole life policy when you die the family gets the value of the dividend by virtue of it purchasing more death benefit. If you decide to surrender a policy and take the cash you get the value of the dividend by virtue of it being added to the guaranteed cash value. Part of my job is reviewing 10, 20, 30 and more year old policies to members. These things grow. Some of the folks I visit open the conversation with “John, I don’t want whole life” ok. But during the conversation they begin to ask if they can at least see it. By the end of the visit they want it. Along with term. The reason they don’t want it is because their brother or friend told them it was no good.
The equity in your house goes up and down with the market, the equity in your policy ALWAYS goes up, and its liquid. I call my agent, or the company and it's wired into my account in 3-5 days.... how accessible is your equity in your house? and what happens when you want to access that equity, that is gone during a market correction? so you are correct, they are different.. equity in a policy is better in every way :)
Investments vs Whole Life Ins. I invested the maximum I could in my 401k from day 1. My employer matched 6%. I never looked at Life Ins as an investment vehicle. I bought Life Insurance in case I died tomorrow. I made more money than my spouse so I worried abt his quality of life should I die before him. I bought Variable Life insurance, as many millionaires do, bc when the time is right, you can dump money into these policies (remember you're earning interest and compounded interest), a roundabout way to leave your money to your beneficiaries. You can also borrow from these policies n only pay back the interest which is minimal if you compare to int. on a credit card or personal loan) Do I have any regrets? No. I always had that piece of mind that I had an additional nest egg--how much are you willing to pay for piece of mind? Dave Ramsey reminds me of Dr. Phil--Dr. Phil got big a head! :)
Dave knows what he is talking about but it is not the entire story. Life insurance can be a great investment opportunity if the insured dies early and you obtain the face amount. For example I have a life insurance policy with a return on premium on my grandma up to age 95. She is 75. The face amount is $100k. I pay $2220/year on the premium which is fixed over the length of the policy. After 20 years, that amounts to $44,400. Adjusted for an annual 3% inflation rate over 20 years, that comes out to roughly $80,000. If my grandma lives past 95. I would only still get $44,400 back which I paid into. I lost $36,600 dollars in value over 20 years. If I had invested that money elsewhere, I would be in a much better shape. If my grandma dies within one year, my $2200 just turned into $100,000 that's over 4500% annual return. So life insurance policies only work if they die quickly or else you end up in a real bad position than before.
Rop is so so. Could prob be better investing the difference since inflation is giving you net loss. IUL or WL at least has chance to keep up w inflation.
The funny thing is people like to compare it to homeowners insurance and car insurance with short term insurance is they say.. They don't realize they pay those insurances their whole entire adult life.. Most people do not stop paying your auto insurance and homeowners insurance at 20 years.. and invest the difference ...they will probably be paying it for 60 plus years.. lol
@@bethanyholick1169 No, the goal is but term insurance at an early age and invest the difference (between the cost of term and whole life) making yourself becoming self insured. You will end up with waaayyyyy more money to pass along to your beneficiaries
Aside from term, a property structured form of permanent life insurance can be a great compliment to a portion of an overall retirement plan. The main reason for this is for the LIVING BENEFITS. So yes, using life for all of your investments is not a good idea. Find a fiduciary advisor who doesn’t “sell” insurance but instead knows how and when to use it!
@@astroman30 Cash value is SUBSET of your total death benefit. As cash value grows, your death benefit grows, so i don't know what you are trying to show here other than you don't know what you are talking about lol.
I am so shocked by Ramsey's advice to this caller that I almost fell off my chair. Life insurance is financial protection against life's disasters. I say it is essential. Everyone with dependents need it. Term is not the best, but if that's all you can afford at any point in time, it is better than nothing at all.
When Dave says not to use life insurance as an investment, he is talking about those policies that so call build “cash value” such as whole life but at the time of payout, the cash value is $0. No policy should ever have an investment account attached to it. When you buy term, you’re buying coverage for a certain amount of time. It could be 10, 15, 30 years. And with that, you should contribute 10% of your income into a mutual fund/ retirement, account, separate from the life insurance policy, that grows your money just by it sitting in that account. He is not saying that buying life insurance is a bad thing. He is simply stating not to buy a life insurance policy that has an investment account attached to the policy. You will probably assume that I heard this from Primerica and that I only follow the “buy term and invest the difference” philosophy but it honestly makes sense and YES I did hear that from them. As a 19 year old how could it not make sense. I pay $44 a month for $180,000 of coverage and I have started investing money into a mutual fund account. People who bash Primerica are simply ignorant due to the fact that they push young people like me to start caring about our future NOW rather then later and with how people are struggling with money worst then ever before, how could you bash such company for that.
@@bubu5711 after 20, 30 yrs, if you're still alive to renew your term insurance for another 30 yrs, you'll be paying $400/ month for the same coverage amount, if, you are still healthy and insurable. Think about that. 😄
Glsrider no sir. That is why I invest on a mutual fund. No need to renew my life insurance when 30 years from now I’ll have more if not close to a million dollars. Why renew if I have enough money to be self insured. Get what I’m saying? Oh and I’m 19 yrs old paying $57 a month for $300,000 in coverage and I’ll be paying that for the rest of my life until the my 30 years of coverage is up.
@@bubu5711 yeah I know. And do you know that your $57 can already buy you a universal life with the same coverage? You're 19, meaning by the time your 30 years is up, you'll only be 49. I don't think you won't need an insurance. And even if you have that close to million you're saying, you'll be needing more to plan for your estate. Anyway, you're young and you have lots of time to learn. Good luck!
I heard about when our pastor give a message about financial management sermon usually in month of January every year. I had a policy in which I contributed 150 Premium monthly while part of the premium to Be invested in S&P 500. At the end of 20 years, I surrender the policy and got $100,600.00 check. I paid about Total of $39k in total premium over 20 years period while getting back $100,600 .00 back. It turned out to be good investment for me. I am writing this because you are saying never mix insurance and investment, But in this case, it came out excellent. How can explain this?
I have basic term life insurance through Prudential paid for by my job. Pays 2X my annual salary but my job also offers basic supplemental that you can choose to pay for as well and it pays up to 10X my annual salary. I've been wondering if I should start paying for the supplemental or just call it a day with the insurance my job already pays for? The only thing I don't like is that it cuts off at 85 so if I day at 86 my family gets nothing. That's why I've been looking around at these videos to see what I should do.
Consider getting your own policy not tied to your job. You might not even be getting a deal on the additional insurance through work. If you leave your job, you might not be able to keep your insurance or qualify for a new policy.
Nationwide is no longer a captive company they allow independent agencies to sell their insurance. Also the last time I checked all Insurance companies do huge marketing campaigns.
96% of mutual funds fail to beat The SNP 500 in the long term. A mutual fund manager might sell you stocks he gets commission off so he / she might not even buy the stock they sell you. Not too sure about IUL’s yet but they sound good long term as a part of your investment. Not all.
you shouldn't compare all mutual funds to the S&P 500. Compare them to their similar indexes. The real statistic is around 50% of mutual funds don't beat their index. IULs are the worst form of permanent insurance. Insurance is not an investment.
Yea invest in mutual funds “making 10-12% of your money” when you can also lose 10-12 percent of your money since it’s invested in stock market. Instead of having index universal life which is invested into an index account where your money won’t decrease depending on the economy. And you’re able to make up to 4-12% in cash value.
People only "lose" money in the stock market when they panic and sell. Most investments recovered within two years of 2008 and the market has tripled since then.
It's still better than buying Whole Life where I have to "borrow" my money to get it out. Also, when you die, the beneficiary only gets the Death Benefit. The insurance company keeps the Cash Value. Plus, the price of WL is at least 20 times more than term. Yep, term is waaaayyyy better than Whole Life.
astroman30 you can get a custom whole life where you pay only for 10 years and even after you finished paying the cash value and death benefit keep growing
OK. So a Suze Orman clip on Whole vs Term was showing so I checked it out and apparently SHE is even more avidly against whole life than Dave! lol. Don't know as much about her, but she shot up in 'smart' points when I saw the clip.
I work in real life situations with age 18 to 80. The money I deliver to widows is NEVER term it's always Whole life or permanent insurance. These widows are 70 and as old as 93. I delivered 63k to a 93 year old Oman who sure could use it. I would suggest Suzi come with to death claims and watch as the wide gets no money because her husband didn't save enough and failed to have life insurance in place. I am not opposed to term insurance of course but I don't think Suzi should be showing her hatred for great financial product such as Whole life insurance. My company the Knights of Columbus always had an open invitation to her to debate the ups and downs of whole life. She never accepted. SHe's safe on her tv and radio throw just tossing out things of what's good and what's bad. Let's put here in a real life situation in a couples home at the kitchen table and find out their hopes, dreams and life objectives.
Ramsey certainly has an estate that will be subject to estate taxes unless he's done some extensive Trust work. Permanent life will be the most cost effective vehicle for him to pass his estate.
A LIRP is a great way to build wealth tax free. It also provides a LTC stream if it is ever needed as well as providing a death benefit. A IUL LIRP is tied to the market and will never loose money. It has a cap. if the market is -1 year you don't lose any money if the market goes up above your cap you take your cap if it's below your cap you take that amount. It also allows one to take money from your tax bucket and get it into a zero tax environment with no limit on how much is transfered that can be passed onto your heirs with no tax event. David McKnight wrote the book look before you LIRP. A good read.
Properly structured Whole life Insurance from a mutual company is not an investment, but it is a good way to build and pass on wealth and pay for things you would have bought anyway. If the insurance company's were smart they would sell this feature instead of the Death benefit.
Many or most people's thoughts are unidirectional. There are numerous"smart" people who don't get WL as a tool to finance themselves. You are one in a million. Most people already drank the cool aid and their thoughts set in stone. It makes no sense when they actually learn that they pay some interest when they get policy loans. They don't realize that when you pool or capitalize money in your small economy, that pool of money never leaves, it's always available to be used as long as it's replenished. Kudos to the infinite banking concept!
As a matter of fact digital assets are gaining traction as they are not subject to political influence. Investments like stock and forex had become profitable and very good options in securing a better life.
Hey someone talked about researching snd trading without professional guidance , huh... I laugh at you. You’ll remain where you are and even make huge losses that will discourage you from trading
I don't agree with Dave on buying a 20 year term. Buy term to cover your working years when you are earning income and the loss of your income would be financially devastating to your family. There are companies that sell 30 and 35 year terms. Generally speaking, buy a term which will cover you to retirement and max out your retirement savings opportunities. Most companies like the 20 year because it ends when the client is in their 50s and the companies structure the renewals so they are so high that the client will buy a permanent policy. Usually universal life or a whole life policy with a lesser face value. Life insurance companies are trying to get everyone to buy permanent insurance and they use their term insurance as a way to get people into it.
@@Army_Of_Juan "Set up" Yes, every WL policy is set up where the company keeps the cash value when the person dies. The family gets only the DB. It's a scam. High fees, commissions and penalties are "set up" in the policy. It's a rip-off.
I am getting rid of my whole life insurance, which I was paying $230/month for and getting the same amount of term insurance for 30 years for $25/month. I am 35 years old.
I do not recommended just a term, why because in my younger years I purchase a term and a whole life. Well years later I have cancer. When my term expires no one will insure me for a reasonable rate. I thank God I have a whole life because they can't cancel me or increase my policy. You have to think and do what is right for you and your family.
@@kaohsiung99 you are wrong! not if you get terminal cancer when you are young like my two sisters. And if you got term insurance and get cancer then it come back near the end of the term who will insure you? My whole life is so cheap because I got it in my twenties. Had cancer in my late twenties then again in my fourties. I am now in my 50's . Thank God i am doing well. Do you really think I will get a good rate? You talk about you should be financially stable in your older years but stuff happen like it happen to me, hello things happen. Again people have to do what is right for them. Term is not the way to go for everybody, especially with a strong family history of cancer.
You say 10 to 14% return on a investment in Mutual Funds. Maybe you could tell us where & when one can show this kind o return over a 15 to 25 year run. I call this PS.
@Dave Ramsey You said many times you never ever bought a permanent Life insurance and then you said you bought a North Western life insurance policy. Which one is it? You are making blanket inaccurate statements about permanent life insurance. When a policy is properly structured for maximum cash value it blows away your Term and Invest in mutual fund strategy. Not even close!
@@thadofalltrades we all have opinions but numbers never lie. Dave Ramset is A Financial Entertainer and I am a Regustered Financial planner for over 25 years mentoring thousands of advisors. Making financial blanker statements is Financial Malpractice. I never make recomendations before completing a Thorough Fact finding session
@Bill Constain I have to agree with you. He is making blanket statements that just do NOT make sense. I have spent years in the business. Buying term over and over and over is VERY costly, and the IRR on that situation is horrible. I wonder if he has ever tried to go through health underwriting on a 65 year old vs a 25 year old and seen the price delta. I really like Dave Ramsey but these "absolutes" are simply inaccurate. Also, yes you absolutely can retain the "investment" portion of your policy. (Face Value + Cash Accumulation). This is often were wealthy individuals "stash" their money because of the tax benefits and accumulation purposes that a permanent life insurance product offers due to IRS regulations.
Here's a question: What if you max out your Roth IRA... Where else can you put your money that grows tax free? I max out my Roth. I have a whole life policy, with term, which doubles my MEC line. I pay the 5K premium and over fund another $5,600 (at 6.4% dividend) ... After 20 years Ill have around 368K, but if I was going to put that same 10600 in a mutual fund Id have around 523K!! Guess what? Taxes. And taxes aren't going down. And with the youth of this country clinging to socialism, we can expect they will rise quite a bit. So 523K after taxes....around 300K. But that's 300K that can be taxed again when handed to your kids etc. Or you use whole life as a tax shelter, over fund - so your money just doesn't go all to premium fees- and give your kids a huge chunk of tax free money when you go.
You dont get taxed at the whole 523k, you get taxed on the capital gain. So you invested 200k and grew to 523k, you will only be taxed at the difference on the capital gain tax rate and it depends on your filing status and income level it can be from 0% to 25%. And you will not need to withdraw all at once.
@@astroman30 nope, not another rider. Its just the way you structure the policy. And don't forget - expensive or not, you get what you pay for. People justify paying $200 for a night out on the town, yet think twice about spending "a lot of money" for financial peace of mind.
@@labratfunk Oh, by all means, tell us the insurance company you represent that pays BOTH the CV without any further rider/increase in the premium. I'll be sure to screen shot your comments so you can get the commission.
Why not use Variable Life Insurance?? You can pull out the cash values without the penalties like in any 401k and you can use it for education or a rainy day fund! I have AMCAP as my underlying fund and it's getting me 10%. It's not for aggressive growth but for long term investment AND a $1 million death benefit I feel it's a solid plan.
Hello I have a 21 year daughter that have saved $25k and just got a raise and she was investing into this whole life and we are in need advise because she needs to cancel and invest elsewhere. Please help
As both a life Insurance salesman and owner of UIL policy this information is terrible!!! Mutual Funds, IRA, etc. Are subject to taxes. Unlike life Insurance which is tax defered. There are policies that allow your family to receive both the death benefit and the cash value. Please take this misinformative video down this is a disgrace and a disservice!
You horribly mistaken when you said Indexed universal life coverage that the insurance company keeps the cash value is simply NOT TRUE. You might be referring to Whole Life with option one. You also promote people to get Long Term Care, however, you barely talk about it. IULs offer living benefits that pay out while your still alive due to not only terminal illness, but critical and chronic illnesses. Some carriers even offer critical injury that I have personally been able to help a client with. As for fees, over a ten year period between a mutual fund and IUL, the mutual fund will have way more fees!! Yes the first two years don’t have that much growth, but after that, sit back and watch the show. Would you be willing to have David McKnight on your show??? Wish all the best Mr. Ramsey. 🙏🏽
Only face amount will be paid? That’s not true. He needs to know how insurance is structured rather than giving audience generalized idea which is wrong. At least UL is different from what he has said.
i was reading my whole life contract....dave,,,my policy doesn't do the things you say it does...what am i missing? upon death the policy pays both the face and cash value.
Do your research and understand investments. Warren Buffett owns multiple whole life policies in his portfolio. I’m gonna go with Warren over Dave on this 😂
Fitness Motiv8 i think this guys is super biased. I understand what he means with fees. I wouldnt use life insurance in a portfolio so that someone can invest. But getting someone on a participation life insurance policy with a good company that is paying dividends on the cash value gives you a living benefit. Term premiums are gone once you survive the 20 year policy. And then youre uninsurable by participating companies... now your opportunity is gone
@@grephenson why wouldn't you want to listen and follow a "smart investor" that is a multi millionaire!? You have a better idea? If you did, you'd be the multi millionaire, right?
My IUL pay cash value plus faceamount to my beneficiaries..Dave u got this wrong cause i have all in contract. U should do some continuing education!!!
Tenzin T with what you are saying you should run the numbers on what your cash value would be worth if it was invested outside your policy. It was amaze you
Terrible advice. Dave clearly doesn't understand the living benefits of permanent life insurance when structured properly. He's the male version of Suzie Orman.
astroman30 the money is lost. But let’s say you buy a 10 year whole life(you pay for 10 years and the insurance covers till you die) The money in that cash value will still grow tax free even after the 10 years.
@@astroman30 Cash value is the same as equity in your house. it is a portion of the death benefit. When you die, your beneficiary gets the death benefit. much like when you pay off your house, you get the title not the title and a check for the equity.
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Thank you Mr Dave for this information. Basically, Investment by itself. Insurance by itself. Never mix it together.
Im an insurance agent. I always sell a 20 year term with living benefits as long as the person qualifies. I let them know, is not an investment, is a protection of your income in case you get terminally ill. Average pay is around $250 a month for $200k life insurance, and over $300k in living benefits.
That's the point, exactly that is the point. This guy also are telling several false statement over Life Insurance. It is NOT an investment, it is a financial "mattress"
@@alanrivera1477 Naw....it's a financial "shithole."
@@alanrivera1477Would you be able to sale term life after 70's?, may be that is potential benefits of whole life insurance isn't it?
$250/month it is almost $3000/Year which is a lot of you buying for two person - $6000/Year
Do you tell them about how ridiculously high your commission is on that? I got about 45% when I was in that game and left in utter disgust.
@@jackwalker9492some know, do keep in mind that if they cancel before the 9th month I also get a huge charge back 🤷🏻♂️
Thank you I almost got a whole life insurance policy for investment purposes. I’m glad I saw this video before I signed anything. You have a new follower and subscriber. Look forward to learning more.
I sell insurance hmu
We've had people come to us with whole life policies where they've paid hundreds of thousands in premiums and have $0 cash value left over. It's almost never worth it
$300 month into a couple good mutual funds will grow to a solid portfolio over a lifetime
Term life is insurance for PURE liability purposes (mortgage, kids education, etc). Permanent UL insurance is a financial tool. What makes it great? Taxation. If I had $2,000,000 in an IRA when I died my kids would pay $600,000+ dollars in taxes. If I planned properly, I might have had $1,000,000 IRA and $1,000,000 permanent life insurance policy and my family would have had an extra $300,000 dollars. Taxation is what makes life insurance viable. Most people without a tax liability should just listen to Dave Ramsey. My $1,000,000 policy could cost me $100,000 in fees, but would still be worth it because my family gets more. A proper financial advisor (NOT Ramsey) will be able to run the numbers for you. And as a financial advisor myself, I can tell you without a doubt I would make more money managing your $2,000,000 in assets than I would to manage $1,000,000 in assets as well as sell you a $1,000,000 life contract.
Having term life insurance is better than not having life insurance and you're begging people for money on a GoFundMe account to bury a deceased loved one.
Clarence Stinson just had this conversation with someone who had to bury his 11 year old son. No life insurance and had to sell fish dinners to pay for the services. Term Life insurance costs pennies a month.
Unless you get old and your term life gets too expensive to keep and you are too sick to apply for more then you are forced back to GoFundMe and fish dinners. Death is a permanent expense everyone should have a whole life policy to cover final expenses no matter what the unlicensed entertainer in this video recommends.
Daniel Schachle follow the plan and you won’t need insurance
I agree
@@danielschachle2054 Have you ever heard of savings?
You should call these Dave Rantsey's
When it sounds too good to be true check twice
My mother is 75 yrs old. She never had ANY life insurance. What she did 15 yrs ago, she paid for her funeral expenses. That's the best thing you could leave your family. Unless your kids are minors. I would go with term insurance for 20 yrs. And then pay for your funeral expenses
Sure ! Everyone has to be aware that death is inevitable and save for that day
Azteca the thing for life insurance it’s to leave your family in a better situation than the current. If you love your family you will get a life insurance , just in case you die
Should have invested tht money and left a will. Never prepay funeral expenses.
Anyone who tells you that life insurance is a good investment lied to you. It doesnt matter how good they make it sound because it is a horrible idea overall. The only people who are benefiting from it are the people up top of the company that is selling it to you. People who sells life insurances are the only ones who tells you that it is a good investment.
Amen.
So what do I do with it now that I have paid 500 a month for years?
The good advisors appreciate it. Dave investment based life insurance is only effective for tax advantaged purposes for high net worth individuals. Selling it to the middle class as an investment is for commission
Wooo. Eyes just opened
Whole life insurance is a financing mechanism and can be used to fund living expenses, debt repayments, major purchases, and alternative investments like real estate. An even bigger pro, are the mutual life insurance companies that are non direct recognition where the cash value earns dividends even while borrowing against the policy. The accessibility of money while earning interest is what separates a whole life policy from a 401k and a Roth IRA. It’s very difficult to access money in a 401k without getting penalized and with a Roth IRA, the moment contributions are withdrawn, the money stops earning interest. I do agree with Dave’s point about switching to term insurance when it comes to maximizing death benefit. If the goal is to obtain maximum death benefit coverage, than term is the way to go. If the goal is to create a more efficient financing system where dollars are recycled and recaptured, then incorporating a whole life policy (preferably one that is front loaded such as an early cash value or 10 pay policy) in a financial plan can be very beneficial and offer individuals more flexibility and control over their money. The purpose for my comment is strictly for discussion and education only. This is not financial advice.
Paying an insurance company interest to BORROW against your own money while they keep it, and you think this is a good idea?
@@astroman30 this comment says it all. It completely negates the selling point of 'tax-free' when you have to fucking borrow and pay it back with interest. Regardless if the payback is flexible unlike borrowing a loan from a bank. And then if your are single with no beneficiaries... Like WTF?!
@@chrism3198I see it as saving more of your own money subconsciously because you are paying yourself. You aren’t held hostage to a term like a bank & after you put it back in the policy the value is STILL yours. Unlike a bank once the loan is repaid you’re left palms up, every cent is gone
@theramseyshow --- How does life assurance compare to whole life insurance or just investing and saving?
I just went to Zander and applied for term life.
Life insurance is not an investment it’s a tool.
Investments goes up and down. Whole life insurance goes up only.
Juan Dilan so does IUL
Why isn't life insurance an investment?
@@astroman30 you can’t just put money in there and wait till it grow by itself, you need to reuse it wile still grow compounding interest
The math on life insurance never makes sense until you need it, but if you do, yes get term.
Hi Dave, i love your channel and contected however in this case, I dont know what the situation is in the US, but in Canada it is NOT like what you are saying here Dave. We work for an independent brokerage and can sell policies from 6 major companies. We can sell any type of plan. We run illustrations looking at all the different plans, and Insured Retirement Plan beats everything else hands down.
Term is cheap when you are your but of course gets more and more expensive as you age. With IRP the investment fund grows and eventually you dont even need to pay for insurance anymore because it becomes self funded. In some cases, 6 years of payment will result in life time insurance.
If the fund value is higher than the face amount at death, the higher amount is paid out, not just the face amount like you said. But again this is in Canada.
What about overfunding a whole life insurance w/ a PUA. I’ve heard you can access your cash value faster & more if you properly set up the insurance w/ the broker from the get-go?
“I’ll bet he’s a friend, huh?”
-two minutes later
“Jeff Zander, he’s a personal friend”
Reality most term either cancels or never pays out death benefit...
I buy homeowner's insurance every year and never made a claim. Does that mean it's' a bad purchase? It's a RISK MANAGEMENT purchase. Insurance buying for the sake of investment is stupid.
@@astroman30 term is cash trash
@@Rshen11 nah….you’re trash for believing in that infinite bullshyt garbage
IULs have no penalties for making early withdrawals and the cash value within the IUL policy grows tax-deferred.
Why IULs are garbage (from an actual fiduciary :)
1. Money never enters the market - With an IUL, the money funding the cash value portion of the policy is never actually invested into the market. Instead, the insurer holds your “cash” and pays a return on the annual growth of a specific index. Anyone selling IUL are not required to have a securities lIC.
2. Growth potential is capped - While most policies have a “floor” of 0% which prevents your cash value from dipping below what you put into it, your growth potential is capped, too. For example, if your policy limits growth to 10% on the index and that index out-performs that percentage, you’ll still only receive the value of 10% in your account. The insurer keeps the difference.
3. No dividends - Dividends are completely eliminated in an IUL policy. Not having the chance to reinvest any earned dividends, as you could choose to do with an individual investment, means you could miss out on a great deal of money from dollar-cost averaging over time.
4. Fees, fees and more fees - IUL policies are packed with fees and charges that will eat into any cash value accrued.
5. Rising costs - The internal cost of insurance continues to rise as you age, which can limit the amount of money going toward any potential cash value. All universal life is A.R.T ( annual renewable term) PLUS: Almost all cash value policies have these “features” built in. • You’ll accumulate NOTHING in cash value for the first few years the policy is in force. • The cash value earns a lower rate of return (often just 2%-4%) than the potential return you could achieve if you put your money into a vehicle such as a Roth IRA in the U.S. • If you borrow from the cash value, you’ll pay it back plus interest. • If you die with the policy in force, beneficiaries receive the death benefit (less any outstanding cash value loan balance) while the insurer keeps any accrued cash value. Unless you have the increasing death benefit option (option b) the consumer will pay more for that option. The consumer always gets screwed when investing in these policies. The only winners are the agent and the company. The BS I hear all the time is it has to be "structured properly." I have collected 64 policies in the last year and I haven't I seen one structured properly.
@@astroman30as a fiduciary: What about overfunding a whole life insurance w/ a PUA. I’ve heard you can access your cash value faster & more if you properly set up the insurance w/ the broker from the get-go?
@@csavvthebarber3889 “access?” Giving away your money with only an option to borrow. In fact, paying an insurance company interest to BORROW against your own money. Does that really sound like a good idea to you?
Only the sith deal in absolutes.
Professional accredited investor here.
Ramsey’s audience is lower middle class and honestly term insurance is best for them bc it’s more important to accumulate short and medium term savings before locking up money for the long term.
Life insurance is a HORRIBLE “short” term investment (he mentions a bad rate of return) but an “AWESOME” investment if you can wait 20 to 30 years. The way a professional investor looks at any investment is by using the internal rate of return (that factors in costs AND overall return). Just look at the short AND long term numbers.
He also says he bought a life insurance policy from NWM. He said he hated it. Honestly whole life is the safest product and it grows super slow (like CDs in a bank). I bought an index UL which grows faster but still has no risk of losing money in the market.
So, it depends on who you are, if you’re buying it for protection or accumulation, and especially what your time horizon is. Always use an independent broker.
How about disability income insurance?would you recommend this if your work offers you only 60% of your income or less???
For my retirement plan I have a life insurance with an investment in it, also investment products such as mutual funds (mostly global stocks), then ETFs, two additional index instruments - total of 6 contracts that i have been putting my money into.
Honestly bro I think you made the right investments by diversification and that's a really smart move!! 💪
@@samdubey6948 thanks:) how did you solve your retirement plan ? I'm curious about what Americans do . .
THANKS 🙏🏾 DAVE!!!
Permanent insurance is not always a high rate of return investment play. You are oversimplifying the complexity financial planning. There are living benefit riders that over long term care coverage, critical care coverage etc. that covers your investments and the rest of your assets. Also mutual funds are expensive and do not tend to outperform benchmarks over time. ETFs and index funds may be much more suitable that mutual funds that have an upfront sales charge and an annual expense fee… AND can incur captial gains charges every year.
Nah dude, trash value insurance is never a good purchase. The premiums are (at least) 20 times higher than term and the insurance company keeps your cash value. Try harder.
So how do I get out of it now that I have put money in ever month?
Ask for the "surrender" payout assuming you qualify.
Its funny he mentioned Northwestern Mutual, I'm in the process of filling for term and whole life. Whole life till 65 an term life till 80. The discussion made sense to me. Any comments??
How old are you? Term until your 80 doesn't sound right.
term 80 is annual renewable term through NWM. Your price goes up every year.
@@thadofalltrades whole till 65? whole life does not endow until age 100.
Tell us the mutual fund that earns 12% per year every year so we can all be rich Dave
He can’t.
VGT
It's a 30 yr average not year after year. Of course the market is going to change. Even if you get 8% its better than 3% and the insurance company managing it.
@@grantpurcell9922 where's the 3% come from?
This guy really hates life insurance... Yes, there are bad ones within certain companies but finding the right one can benefit you and your family tremendously in the future if either you die too soon or live too long... Always good to be protected
He just hates cash value
Death benefits are non-taxable income to your beneficiaries. Life insurance is a must have to pay for our final expenses and not burden our families.
Mr. Ramsey, you’ve changed my life for forever with your wisdom-filled advice. I’ll always be grateful for it also. As a fellow-Christian, I’ll always endorse you for many, many years to come. However, when you say that a life insurance policy will NEVER pay out the face value in combination with the cash value within the plan, it’s. just. untrue. Thank you for everything that you continue to do, but please seek out just a bit more info to see that policies can, without a doubt, do that. God bless.
So, you're saying the beneficiaries get BOTH the death benefit AND the cash value?
I should also say that most people aren’t going to live to 100. That’s why if you die before the policy is paid up, the insurer will give your beneficiary the death benefit in full. That’s why it’s called insurance. To cover the loss and to leave the person who suffered the loss in the same condition before the loss, not better or worse. So when you’re getting a quote, an agent will break down what you need, not necessarily what you want, based on the human life value or needs approach to calculate the amount of death benefit needed to cover the loss of your life. That way you won’t be over paying for life insurance your beneficiaries aren’t going to necessarily need when you pass away. Although the customer can choose how much premium and coverage their willing to pay for regardless.
Don't believe this dude. He's gaslighting you. Whole life is only beneficial to the person selling it to you.
Term is the ONLY way to go.
In all do respect, I love information that Dave gives but I would have to disagree when he talks about IUL. IUL when you past away you do get the Death Benefit with the Cash Value. Term doesn't give you anything. Whole life gives option A. Which gives you only the Death benefit even if it has equity. IUL has option a or b. B gives you both CV and DB. Term can only do till 80 years old.
Do you know what a ART in your iul is?
Mai Ger Yang yes I believe it should be part of your investment. Not all. Don’t put all your eggs in one basket.
@@TheLoneWolfShow Of course, that why you diversify your portfolio. But to say only term life insurance makes sense is such a dangerous blanket recommendation. Can't give that type of financial advice like that with not much knowledge of people's assets, income, goals, etc.
Krisan S. Cockburn if you can have 3 things as part of your only assets what would they be?
@@TheLoneWolfShow My house, my roth ira, my insurance.
hmmm, i was just pitched one of these, and he described it completely differently than ramsey just did. I'll have to go over the documents again.
Troy Johnson are you located in wa state or California?
Just check page forty-whatever of the contract to see how much interest they actually pay in the first five years. Usually, it's about 2% on the CASH VALUE, not the total amount insured. The cash value is a small percentage of the amount insured.
To put in real estate terms....think of term insurance like renting and whole life insurance like owning where you build equity!
LOL Dude. A better comparison is renting cheap and investing the difference vs owning a house that you can't afford.
You're not wrong....but I didn't say one was better than the other. HOWEVER, there can be one that's better for you and your situation, sometime's it's both
Back to the real estate analogy, if you can't afford to own or have a preference to rent, then that's the right move for you!
“Owning a house” you can’t afford haha. More like overpaying for something you shouldn’t have ever started paying for!
Cash value is not equity. It is owned by the life insurance company. I own the equity in my house.
BS you cant touch that equity buddy unless you sell your house or get an equity loan. :) People that speak w no experience drive me nuts!
Dave could you do a show on world financial group. My roommate signed up with them and wanted me to join.
Andy Barrows I agree, that would be a great topic on this show! They tried to get me to join as well.
Or you could just go talk to a Senior Broker or EVC there. Dave wouldn’t know anything about WFG.
Daniel Leon the only scam is people like you who probably don’t make much money but yet you keep going back to the same source
okcboi Lol !
Yes I have also been approached. And I now have concluded I prefer a CFA to help me invest and such.
A better video would “An Investment as Life Insurance” (:
Good mutual fund.....it's called stock market....
So Dave after a 20 year level term if you are 35 what do you get then? Renew or go self insured?
Get a new term life policy if u still need insurance. At 35, rates should b reasonable. 20 yrs later, when u're 55, u might not need insurance anymore because u have plenty of net worth because u never bought wholelife insurance.
aaajjworm At 55 it’s more than likely for funeral expenses (which never go away), portfolio protection in case you need an asset that is not correllated to the market in case of a market correction/recession, or a way to cover estate taxes/provide a legacy for your family or a charity. A strong portfolio can serve as a way to cover funeral expenses and be left to beneficiaries, but the other items I mentioned are best covered with permanent insurance.
Grant Johnson i'm not concerned with high net worth people that trigger estate taxes (5.49 million for 2017, right?) as much as I am for ppl with less than that. High net worth individuals will b able to pay funeral costs and leave a legacy for their heirs...no insurance needed at that point. Their net worth is higher than any insurance payout. Net worth basically takes the place of insurance. Why have a 500K wholelife or termlife policy if u already have 5 or 6 million dollars of net worth? Just have an up to date will and u can disperse to all your family and charities u want as needed.
Wardo Kings of Twos exactly right. I'm definately not worried about triggering the estate tax! lol
aaajjworm net worth isn’t everything, you can have $10 million in real estate and no cash on hand to keep it all in the family. As for the need, there are a lot of things people own and buy that they don’t need, but they do it anyway. If you have one person who owns CVLI and another person with term and some extra spending money they use how they please, is one of them wrong? You or I might have an opinion one way or the other, but it really only matters that they’re being responsible. I’m more concerned if people don’t have enough than getting too worked up over what type they have. I will say however I have a 50/50 mix of term and permanent myself and I know why it looks like that.
That’s the advice I really needed 😍
Sad how many people trust this guy... he 100% owns plenty of whole life
Based on what?
Liar.
@@astroman30 🤣
Why would he own that trash? Whole life is sold so you can pay the insurance company premiums for your entire life. Early on you pay extra into the policy so your savings account grows. This is not so you can cash it out, but so the insurance company can take money from the savings to pay the high premiums as you get older.
It doesn't matter what Dave Ramsey says , or what anyone else says.. the correct information is out there on using mutually owned, dividend paying whole life insurance as a savings account on steroids.. that you're essentially building equity that you can borrow against. In doing this your money's compounding interest is never being interrupted. This is exactly like a house, you can borrow against it while the value is still growing... and tell me this, Dave, when you pay your house off and sell it, do you get money from just the buyer, or do you also get the money from the buyer, then go to the bank and get that money as well?? Of course Not! This is the same as not getting your cash value AND the death benefit.. people who are smart will build up their policy and draw from it in retirement TAX FREE:) Nelson Nash, who just died at the age of 88 is the godfather of how to use these CORRECTLY designed policies to be able to use as a banking, retirement, and estate system.. you have access 30 days after your start to some of the money you put in your policy if it's set up correctly. And yep, you do pay fees upfront and there is a loss.. but typically at the 3-7 year mark the compounded growth catches you up.. and then its gets crazy from there! Do your own research people.. where do you think the commercial banks store all of there reserves? Check out James Neathery, Ryan Griggs.. and most importantly Nelson Nash. Just like anything in life, spend the time doing your own research.. please.. and thank me later :) God Bless
I own the equity in my house. The insurance company owns the cash value in life insurance. They are nothing alike.
6040adam AE right on brother.
Thad Lozensky when you sell your house you don’t take the equity and the house do you? In a true whole life policy when you die the family gets the value of the dividend by virtue of it purchasing more death benefit. If you decide to surrender a policy and take the cash you get the value of the dividend by virtue of it being added to the guaranteed cash value. Part of my job is reviewing 10, 20, 30 and more year old policies to members. These things grow. Some of the folks I visit open the conversation with “John, I don’t want whole life” ok. But during the conversation they begin to ask if they can at least see it. By the end of the visit they want it. Along with term. The reason they don’t want it is because their brother or friend told them it was no good.
The equity in your house goes up and down with the market, the equity in your policy ALWAYS goes up, and its liquid. I call my agent, or the company and it's wired into my account in 3-5 days.... how accessible is your equity in your house? and what happens when you want to access that equity, that is gone during a market correction? so you are correct, they are different.. equity in a policy is better in every way :)
Investments vs Whole Life Ins. I invested the maximum I could in my 401k from day 1. My employer matched 6%. I never looked at Life Ins as an investment vehicle. I bought Life Insurance in case I died tomorrow. I made more money than my spouse so I worried abt his quality of life should I die before him. I bought Variable Life insurance, as many millionaires do, bc when the time is right, you can dump money into these policies (remember you're earning interest and compounded interest), a roundabout way to leave your money to your beneficiaries. You can also borrow from these policies n only pay back the interest which is minimal if you compare to int. on a credit card or personal loan) Do I have any regrets? No. I always had that piece of mind that I had an additional nest egg--how much are you willing to pay for piece of mind? Dave Ramsey reminds me of Dr. Phil--Dr. Phil got big a head! :)
"Grotesque" @ 6:17 had me rotfl 😅😅😅
The absolute disgust is hilarious
If you need to work (paycheck) for a living....you need DI Insurance.....
Dave knows what he is talking about but it is not the entire story. Life insurance can be a great investment opportunity if the insured dies early and you obtain the face amount. For example I have a life insurance policy with a return on premium on my grandma up to age 95. She is 75. The face amount is $100k. I pay $2220/year on the premium which is fixed over the length of the policy. After 20 years, that amounts to $44,400. Adjusted for an annual 3% inflation rate over 20 years, that comes out to roughly $80,000. If my grandma lives past 95. I would only still get $44,400 back which I paid into. I lost $36,600 dollars in value over 20 years. If I had invested that money elsewhere, I would be in a much better shape. If my grandma dies within one year, my $2200 just turned into $100,000 that's over 4500% annual return. So life insurance policies only work if they die quickly or else you end up in a real bad position than before.
Rop is so so. Could prob be better investing the difference since inflation is giving you net loss. IUL or WL at least has chance to keep up w inflation.
The funny thing is people like to compare it to homeowners insurance and car insurance with short term insurance is they say..
They don't realize they pay those insurances their whole entire adult life..
Most people do not stop paying your auto insurance and homeowners insurance at 20 years.. and invest the difference ...they will probably be paying it for 60 plus years.. lol
What if you get a whole life policy while in your 20s? My face amount is $30,000 premium is $32.60 and premium period is 42 years. Thru Colonial
You could've purchased a 500k DB policy for about $17.00 monthly premiums. Sorry you got ripped off.
@@astroman30 what is a DB policy?
@@bethanyholick1169 Oh sorry....DB is the Death Benefit in a term policy.
@@astroman30 If live past paying off the term policy, does my beneficiary still receive the death benefit?
@@bethanyholick1169 No, the goal is but term insurance at an early age and invest the difference (between the cost of term and whole life) making yourself becoming self insured. You will end up with waaayyyyy more money to pass along to your beneficiaries
Medicare does not cover LTC(custodial care).....medicaid does....
Aside from term, a property structured form of permanent life insurance can be a great compliment to a portion of an overall retirement plan. The main reason for this is for the LIVING BENEFITS. So yes, using life for all of your investments is not a good idea. Find a fiduciary advisor who doesn’t “sell” insurance but instead knows how and when to use it!
Simple question, what happens to the cash value (benefits) when I die?
@@astroman30 have you ever reviewed an original illustration and enforce ledger of any type of life contract?
@@rukiddingmeNJ Answer my question, first.
@@astroman30 Have you even reviewed an original and an in force ledger for any type of permanent life contract?
@@astroman30 Cash value is SUBSET of your total death benefit. As cash value grows, your death benefit grows, so i don't know what you are trying to show here other than you don't know what you are talking about lol.
I am so shocked by Ramsey's advice to this caller that I almost fell off my chair. Life insurance is financial protection against life's disasters. I say it is essential. Everyone with dependents need it. Term is not the best, but if that's all you can afford at any point in time, it is better than nothing at all.
Dawn Marie Roper thank uou
When Dave says not to use life insurance as an investment, he is talking about those policies that so call build “cash value” such as whole life but at the time of payout, the cash value is $0. No policy should ever have an investment account attached to it. When you buy term, you’re buying coverage for a certain amount of time. It could be 10, 15, 30 years. And with that, you should contribute 10% of your income into a mutual fund/ retirement, account, separate from the life insurance policy, that grows your money just by it sitting in that account. He is not saying that buying life insurance is a bad thing. He is simply stating not to buy a life insurance policy that has an investment account attached to the policy. You will probably assume that I heard this from Primerica and that I only follow the “buy term and invest the difference” philosophy but it honestly makes sense and YES I did hear that from them. As a 19 year old how could it not make sense. I pay $44 a month for $180,000 of coverage and I have started investing money into a mutual fund account. People who bash Primerica are simply ignorant due to the fact that they push young people like me to start caring about our future NOW rather then later and with how people are struggling with money worst then ever before, how could you bash such company for that.
@@bubu5711 after 20, 30 yrs, if you're still alive to renew your term insurance for another 30 yrs, you'll be paying $400/ month for the same coverage amount, if, you are still healthy and insurable. Think about that. 😄
Glsrider no sir. That is why I invest on a mutual fund. No need to renew my life insurance when 30 years from now I’ll have more if not close to a million dollars. Why renew if I have enough money to be self insured. Get what I’m saying? Oh and I’m 19 yrs old paying $57 a month for $300,000 in coverage and I’ll be paying that for the rest of my life until the my 30 years of coverage is up.
@@bubu5711 yeah I know. And do you know that your $57 can already buy you a universal life with the same coverage? You're 19, meaning by the time your 30 years is up, you'll only be 49. I don't think you won't need an insurance. And even if you have that close to million you're saying, you'll be needing more to plan for your estate. Anyway, you're young and you have lots of time to learn. Good luck!
Can you do a rant on LIRP is it worth it?
I heard about when our pastor give a message about financial management sermon usually in month of January every year.
I had a policy in which I contributed 150
Premium monthly while part of the premium to
Be invested in S&P 500.
At the end of 20 years, I surrender the policy and got $100,600.00 check. I paid about Total of $39k in total premium over 20 years period while getting back $100,600 .00 back.
It turned out to be good investment for me.
I am writing this because you are saying never mix insurance and investment,
But in this case, it came out excellent.
How can explain this?
I don't believe you. No way you only paid $162.50 monthly/premiums to build up $100k in CV. What was your DB? Did you have a PUA?
I have basic term life insurance through Prudential paid for by my job. Pays 2X my annual salary but my job also offers basic supplemental that you can choose to pay for as well and it pays up to 10X my annual salary. I've been wondering if I should start paying for the supplemental or just call it a day with the insurance my job already pays for? The only thing I don't like is that it cuts off at 85 so if I day at 86 my family gets nothing. That's why I've been looking around at these videos to see what I should do.
Consider getting your own policy not tied to your job. You might not even be getting a deal on the additional insurance through work. If you leave your job, you might not be able to keep your insurance or qualify for a new policy.
Did you primerica tell you that you are totally at the whim of the market?.....average vs actual fund return is a day and night difference....
Dow down 5,000 points.....ouch....
How will invest into Mutual fund
What if you put it in a trust?
Not needed in a trust.
Nationwide is no longer a captive company they allow independent agencies to sell their insurance. Also the last time I checked all Insurance companies do huge marketing campaigns.
What about Nelson Nash
Nelson is the man.. Dave has absolutely no earthly idea
@@6040adam I've learned so much from reading his book
@@beto4Cristo I read it repeatedly.. man
I reread it every year.
96% of mutual funds fail to beat The SNP 500 in the long term. A mutual fund manager might sell you stocks he gets commission off so he / she might not even buy the stock they sell you. Not too sure about IUL’s yet but they sound good long term as a part of your investment. Not all.
you shouldn't compare all mutual funds to the S&P 500. Compare them to their similar indexes. The real statistic is around 50% of mutual funds don't beat their index. IULs are the worst form of permanent insurance. Insurance is not an investment.
Thad Lozensky where are you getting your information?
Yea invest in mutual funds “making 10-12% of your money” when you can also lose 10-12 percent of your money since it’s invested in stock market. Instead of having index universal life which is invested into an index account where your money won’t decrease depending on the economy. And you’re able to make up to 4-12% in cash value.
Yes but your money will be eating up by the cost of insurance which is worse than anything you can think of.
People only "lose" money in the stock market when they panic and sell. Most investments recovered within two years of 2008 and the market has tripled since then.
What abt 2011? What the recovery period then. I made a killing in 2008 on money I invested. "panic n sell" not if your money is in an annuity . . .
Christopher Willis wrong, show me the numbers
Christopher Willis are you counting the fees involved?
Option B = death benefit + cash value....
With a purchase of a rider to an already expensive whole life policy. Garbage.
Then you pay even more to get both.
Did primerica tell you term expires?.....and the "risk" of being uninsurable?......
It's still better than buying Whole Life where I have to "borrow" my money to get it out. Also, when you die, the beneficiary only gets the Death Benefit. The insurance company keeps the Cash Value. Plus, the price of WL is at least 20 times more than term. Yep, term is waaaayyyy better than Whole Life.
@@astroman30 buy term
And invest.....Dow down 5,0000....yeah right...
astroman30 you can get a custom whole life where you pay only for 10 years and even after you finished paying the cash value and death benefit keep growing
@@Army_Of_Juan The ROR on cash value (after fees/commissions) is about 1.5%......garbage.
i got 300k coverage through costco term life 20 yr for about 40-50$/year LESS than zander quote
ccpanel Costco the wholesale store?
Michelle J yeah Costco sells weird stuff like cruises, lifetime gym memberships to 24 hour fitness, and I guess life insurance
My little pony life insurance rocks.
That's like buying a burger from an ice cream shop.
well i hope you deeply read into your policy and not just the front of it so you know what you actually have....
OK. So a Suze Orman clip on Whole vs Term was showing so I checked it out and apparently SHE is even more avidly against whole life than Dave! lol. Don't know as much about her, but she shot up in 'smart' points when I saw the clip.
I work in real life situations with age 18 to 80. The money I deliver to widows is NEVER term it's always Whole life or permanent insurance. These widows are 70 and as old as 93. I delivered 63k to a 93 year old Oman who sure could use it. I would suggest Suzi come with to death claims and watch as the wide gets no money because her husband didn't save enough and failed to have life insurance in place. I am not opposed to term insurance of course but I don't think Suzi should be showing her hatred for great financial product such as Whole life insurance. My company the Knights of Columbus always had an open invitation to her to debate the ups and downs of whole life. She never accepted. SHe's safe on her tv and radio throw just tossing out things of what's good and what's bad. Let's put here in a real life situation in a couples home at the kitchen table and find out their hopes, dreams and life objectives.
Isn't the point of this being an investment to build cash value and borrow against it essentially just how the banks use our money?
Paying an insurance company interest to BORROW against your own money while they keep it, and you think this is a good idea?
what is "LOFF INSURANCE"?????
Im pretty sure Ramsey hates this infinite banking approach but does he have a video on it?
im wondering the same thing
@@CoJackedUp Me too!
Yes, in many videos he discusses how stupid it is to borrow against your own money which is what IBC is based on.
Ramsey certainly has an estate that will be subject to estate taxes unless he's done some extensive Trust work. Permanent life will be the most cost effective vehicle for him to pass his estate.
Living trust
Simple LLC’s and trust’s can avoid the estate taxes.
A LIRP is a great way to build wealth tax free. It also provides a LTC stream if it is ever needed as well as providing a death benefit. A IUL LIRP is tied to the market and will never loose money. It has a cap. if the market is -1 year you don't lose any money if the market goes up above your cap you take your cap if it's below your cap you take that amount. It also allows one to take money from your tax bucket and get it into a zero tax environment with no limit on how much is transfered that can be passed onto your heirs with no tax event. David McKnight wrote the book look before you LIRP. A good read.
john smith I wouldn’t recommend a IUL. Market it’s volatile
@@Army_Of_JuanThey have a floor of zero
Properly structured Whole life Insurance from a mutual company is not an investment, but it is a good way to build and pass on wealth and pay for things you would have bought anyway. If the insurance company's were smart they would sell this feature instead of the Death benefit.
Many or most people's thoughts are unidirectional. There are numerous"smart" people who don't get WL as a tool to finance themselves. You are one in a million. Most people already drank the cool aid and their thoughts set in stone. It makes no sense when they actually learn that they pay some interest when they get policy loans. They don't realize that when you pool or capitalize money in your small economy, that pool of money never leaves, it's always available to be used as long as it's replenished. Kudos to the infinite banking concept!
@@edwardmaina7011 Whole life is garbage as the people who sell it.
Investing in digital currencies is a way of safe guarding a future of financial freedom
You’re right. More and more organizations are beginning to transact with digital currencies. The world is fast changing.
As a matter of fact digital assets are gaining traction as they are not subject to political influence. Investments like stock and forex had become profitable and very good options in securing a better life.
Although I don’t manage or make my investments myself. I let my expert do all the analysis.
You don’t need someone to tell you how to invest your coins. You can make research and try doing it yourself first
Hey someone talked about researching snd trading without professional guidance , huh... I laugh at you. You’ll remain where you are and even make huge losses that will discourage you from trading
What company where those guys with?
Times have changed Mr R.
I wonder what do you think/know about Infinite Banking Concept.
This is how I got to this video of yours😂😂
I don't agree with Dave on buying a 20 year term. Buy term to cover your working years when you are earning income and the loss of your income would be financially devastating to your family. There are companies that sell 30 and 35 year terms. Generally speaking, buy a term which will cover you to retirement and max out your retirement savings opportunities. Most companies like the 20 year because it ends when the client is in their 50s and the companies structure the renewals so they are so high that the client will buy a permanent policy. Usually universal life or a whole life policy with a lesser face value. Life insurance companies are trying to get everyone to buy permanent insurance and they use their term insurance as a way to get people into it.
Ok Thaddeus, what happens to the Cash Value when the person dies?
astroman30 depends how it’s set up the cash value can paid up more coverage on top of your insurance
@@Army_Of_Juan "Set up" Yes, every WL policy is set up where the company keeps the cash value when the person dies. The family gets only the DB. It's a scam. High fees, commissions and penalties are "set up" in the policy. It's a rip-off.
I am getting rid of my whole life insurance, which I was paying $230/month for and getting the same amount of term insurance for 30 years for $25/month. I am 35 years old.
I do not recommended just a term, why because in my younger years I purchase a term and a whole life. Well years later I have cancer. When my term expires no one will insure me for a reasonable rate. I thank God I have a whole life because they can't cancel me or increase my policy. You have to think and do what is right for you and your family.
@@carolcastile9038 Life insurance is supposed to cover final expenses. You have time to save up for that!
@@kaohsiung99 you are wrong! not if you get terminal cancer when you are young like my two sisters. And if you got term insurance and get cancer then it come back near the end of the term who will insure you? My whole life is so cheap because I got it in my twenties. Had cancer in my late twenties then again in my fourties. I am now in my 50's . Thank God i am doing well. Do you really think I will get a good rate? You talk about you should be financially stable in your older years but stuff happen like it happen to me, hello things happen. Again people have to do what is right for them. Term is not the way to go for everybody, especially with a strong family history of cancer.
@@carolcastile9038 I thought I was only one out there with cancer early 20s then again 40s and now okay in late 50s. Glad u r doing good!
I wish you wouldn't! Get the term but put the rest in an IUL. By the time you're 65 you're going to need insurance more than ever!
You say 10 to 14% return on a investment in Mutual Funds. Maybe you could tell us where & when one can show this kind o return over a 15 to 25 year run. I call this PS.
Daniel Hofer 10% on most index or mutual funds
Do your own research...
@@saminchoudhury2659 S&P did 7.8% between 1996-2015.
Logan Bradford that’s the s&p. There are mutual funds that beat that
Logan Bradford and why’d you stop at 2015? 2018 the s&p was booming
@Dave Ramsey
You said many times you never ever bought a permanent Life insurance and then you said you bought a North Western life insurance policy. Which one is it?
You are making blanket inaccurate statements about permanent life insurance. When a policy is properly structured for maximum cash value it blows away your Term and Invest in mutual fund strategy. Not even close!
That's false, so false. Life insurance is not an investment.
@@thadofalltrades we all have opinions but numbers never lie. Dave Ramset is A Financial Entertainer and I am a Regustered Financial planner for over 25 years mentoring thousands of advisors. Making financial blanker statements is Financial Malpractice. I never make recomendations before completing a Thorough Fact finding session
@Bill Constain I have to agree with you. He is making blanket statements that just do NOT make sense. I have spent years in the business. Buying term over and over and over is VERY costly, and the IRR on that situation is horrible. I wonder if he has ever tried to go through health underwriting on a 65 year old vs a 25 year old and seen the price delta. I really like Dave Ramsey but these "absolutes" are simply inaccurate.
Also, yes you absolutely can retain the "investment" portion of your policy. (Face Value + Cash Accumulation). This is often were wealthy individuals "stash" their money because of the tax benefits and accumulation purposes that a permanent life insurance product offers due to IRS regulations.
Thad Lozensky life insurance is a tool
Simple question: What happens to the "cash value" when the person dies?
Here's a question:
What if you max out your Roth IRA... Where else can you put your money that grows tax free?
I max out my Roth. I have a whole life policy, with term, which doubles my MEC line. I pay the 5K premium and over fund another $5,600 (at 6.4% dividend) ... After 20 years Ill have around 368K, but if I was going to put that same 10600 in a mutual fund Id have around 523K!! Guess what? Taxes. And taxes aren't going down. And with the youth of this country clinging to socialism, we can expect they will rise quite a bit. So 523K after taxes....around 300K. But that's 300K that can be taxed again when handed to your kids etc. Or you use whole life as a tax shelter, over fund - so your money just doesn't go all to premium fees- and give your kids a huge chunk of tax free money when you go.
Daniel Farrell in a universal life.
Get an indexed universal life insurance! You can have multiple policies...
You dont get taxed at the whole 523k, you get taxed on the capital gain. So you invested 200k and grew to 523k, you will only be taxed at the difference on the capital gain tax rate and it depends on your filing status and income level it can be from 0% to 25%. And you will not need to withdraw all at once.
False. Option B/Increasing death benefit pays out the accumulated cash value AND base death benefit. Idk where he got the opposite information.
Another rider to an already expensive whole life policy?
@@astroman30 nope, not another rider. Its just the way you structure the policy. And don't forget - expensive or not, you get what you pay for. People justify paying $200 for a night out on the town, yet think twice about spending "a lot of money" for financial peace of mind.
@@labratfunk Oh, by all means, tell us the insurance company you represent that pays BOTH the CV without any further rider/increase in the premium. I'll be sure to screen shot your comments so you can get the commission.
@@astroman30 National Life Group, AIG. I'll do you a favor and send you an illustration
@@labratfunk Sounds great. I've never seen an option B for whole life.
Dave Ramsey net worth is way more than mine, i'll listen to his advise anytime =)
He bases this on a 20 year old personal experience, not objective research
Exactly.
Spot on
The objective research is right in line with what he says
gqthugg21 I’m glad he’s not my planner.
20 year old experience....and yet, Whole Life is still a rip-off. Complete scam and the people who sell it are low-lifes.
Term life vs return of premium?
There are three types of term Life policies regular term ROP term and living benefits term
“Better than I deserve” 💀
It's not an investment, it's a benefit. Stop lying to these innocent people that does not know their opinions.
Not a true compounding vehicle.....
They do not only pay the face amount? Paid up additions?
Why not use Variable Life Insurance?? You can pull out the cash values without the penalties like in any 401k and you can use it for education or a rainy day fund! I have AMCAP as my underlying fund and it's getting me 10%. It's not for aggressive growth but for long term investment AND a $1 million death benefit I feel it's a solid plan.
variable life insurance is subject to stock market risk and you can take significant losses in your account
Hello
I have a 21 year daughter that have saved $25k and just got a raise and she was investing into this whole life and we are in need advise because she needs to cancel and invest elsewhere. Please help
cancel it....asap.
As both a life Insurance salesman and owner of UIL policy this information is terrible!!! Mutual Funds, IRA, etc. Are subject to taxes. Unlike life Insurance which is tax defered. There are policies that allow your family to receive both the death benefit and the cash value. Please take this misinformative video down this is a disgrace and a disservice!
No
Can you take a loan against your term life insurance ?
Alexis James no, there’s no cash value on term insurance
Thank God....no.
Life insurance technically isn't an investment product, it's an insurance product, just saying
My friends mother keep trying to push me IUL policy with a savings feature. $230/mouth? For what? Is my question.
Tell her to find a real job.
IUL is usually bad. Extremely easy to manipulate and show fake projections. Overfunded VUL is sometimes decent, and so is whole life, in my opinion.
Joey Danahy Any UL for investment are bad
M C Taylor prob makes more than you do at your “real job”!!
You horribly mistaken when you said Indexed universal life coverage that the insurance company keeps the cash value is simply NOT TRUE. You might be referring to Whole Life with option one.
You also promote people to get Long Term Care, however, you barely talk about it.
IULs offer living benefits that pay out while your still alive due to not only terminal illness, but critical and chronic illnesses. Some carriers even offer critical injury that I have personally been able to help a client with. As for fees, over a ten year period between a mutual fund and IUL, the mutual fund will have way more fees!! Yes the first two years don’t have that much growth, but after that, sit back and watch the show. Would you be willing to have David McKnight on your show???
Wish all the best Mr. Ramsey. 🙏🏽
Only face amount will be paid? That’s not true. He needs to know how insurance is structured rather than giving audience generalized idea which is wrong. At least UL is different from what he has said.
i was reading my whole life contract....dave,,,my policy doesn't do the things you say it does...what am i missing? upon death the policy pays both the face and cash value.
@@shardsoffork You are 100% correct, Sir.
Do your research and understand investments. Warren Buffett owns multiple whole life policies in his portfolio. I’m gonna go with Warren over Dave on this 😂
Warren Buffett also is a multi-billionaire. Just because a "smart investor" is doing something doesn't mean it's right for you too.
@@grephensonabsolutely. The point being, do your research so you understand what is right for you!
Fitness Motiv8 i think this guys is super biased. I understand what he means with fees. I wouldnt use life insurance in a portfolio so that someone can invest. But getting someone on a participation life insurance policy with a good company that is paying dividends on the cash value gives you a living benefit. Term premiums are gone once you survive the 20 year policy. And then youre uninsurable by participating companies... now your opportunity is gone
kendog1234 absolutely right. Ramsey has good points but his attitude & advice are not right for everyone across the board.
@@grephenson why wouldn't you want to listen and follow a "smart investor" that is a multi millionaire!? You have a better idea? If you did, you'd be the multi millionaire, right?
My IUL pay cash value plus faceamount to my beneficiaries..Dave u got this wrong cause i have all in contract. U should do some continuing education!!!
Tenzin T with what you are saying you should run the numbers on what your cash value would be worth if it was invested outside your policy. It was amaze you
Caleb Shares it would also amaze how much you have to pay in taxes.
@@danielleon5074 the IUL you wont have to pay taxes
IULs are garbage with their high fees/commissions.
@@astroman30 no u r garbage
Terrible advice. Dave clearly doesn't understand the living benefits of permanent life insurance when structured properly. He's the male version of Suzie Orman.
Simple question: What happens to the Cash Value in the policy when the person dies?
astroman30 let’s set a meet and I’ll let you know with numbers
@@Army_Of_Juan Just answer this question: In general, what happens to the CV when the person dies?
astroman30 the money is lost. But let’s say you buy a 10 year whole life(you pay for 10 years and the insurance covers till you die)
The money in that cash value will still grow tax free even after the 10 years.
@@astroman30 Cash value is the same as equity in your house. it is a portion of the death benefit. When you die, your beneficiary gets the death benefit. much like when you pay off your house, you get the title not the title and a check for the equity.
Hi guys. Any one heard the Insured Retirement Plan
Im here for the same thing.