Here’s Why Whole Life Insurance Sucks

The Ramsey Show Highlights

Ramsey Network

Self-improvement, Education, Investing, Business

4.6 • 682 Ratings

🗓️ 22 February 2023

⏱️ 5 minutes

🔗️ Recording | iTunes | RSS

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Summary

The Ramsey Call of the Day is a quick, daily dose of advice on life and money in under ten minutes. Hear from experts like Dave Ramsey, Ken Coleman, Rachel Cruze, Dr. John Delony, George Kamel, Kristina Ellis, & Jade Warshaw. Part of the Ramsey Network. Delivered to you five days a week. Learn more about your ad choices. https://www.megaphone.fm/adchoices Ramsey Solutions Privacy Policy Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is the Ramsey Call of the Day, part of the Ramsey Network.
0:11.0	Joining me today is Ramsey personality, Dr. John Deloney.
0:15.6	John is with us.
0:16.7	John is in Concord, New Hampshire.
0:18.4	Hi, John.
0:18.8	Welcome to the Ramsey show.
0:20.4	Hi, Dave and John. How are you guys? Great, man. What's up?ord, New Hampshire. Hi, John. Welcome to the Ramsey Show. Hi, Dave and John.
0:21.8	How are you guys?
0:22.7	Great, man.
0:23.1	What's up?
0:24.0	Well, my wife and I are in Baby Step 6, and we're kind of lead to the game with the life insurance thing.
0:30.4	And I've been presented an option where there is a term policy that can convert into whole life as an investment vehicle.
0:39.2	How would you want to do that?
0:41.8	It was presented to us, and I really don't know a lot about it.
0:44.6	Oh, okay.
0:45.4	All right.
0:46.5	Over.
0:47.0	And I'm sorry.
0:49.4	And we'll have the house paid off here in the next few years.
0:55.0	So if we did a short term and then started converting it is what this person was telling us,
0:59.6	we could use it as an investment vehicle and they paid dividends to us.
1:03.4	And I don't understand that.
	...

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