Here’s Why Whole Life Insurance Sucks

Ramsey Everyday Millionaires

Ramsey Network

Investing, Careers, Business

4.6 • 3.6K Ratings

🗓️ 27 February 2023

⏱️ 5 minutes

🔗️ Recording | iTunes | RSS

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Summary

Listen to how ordinary people built extraordinary wealth - and how you can too. You’ll learn how millionaires live on less than they make, avoid debt, invest, are disciplined and responsible! Featuring hosts from the Ramsey Network: Dave Ramsey, Ken Coleman, Rachel Cruze, John Delony, George Kamel, Kristina Ellis, & Jade Warshaw. Learn more about your ad choices. https://www.megaphone.fm/adchoices Ramsey Solutions Privacy Policy

Transcript

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0:00.0	You're listening to Ramsay every day millionaires, where we talk retirement, building wealth,
0:10.7	and outrageous generosity.
0:14.0	John is with us.
0:15.0	John is in Concord, New Hampshire.
0:16.6	Hi, John.
0:17.6	Welcome to the Ramsay Show.
0:18.6	Hi, Dave and John.
0:19.6	How are you guys?
0:20.6	Great man.
0:21.6	What's up?
0:22.6	Well, my wife and I are in Baby Step 6, and we're kind of lead to the game with the life insurance
0:27.9	thing.
0:28.9	And I've been presented an option where there is a term policy that can convert into
0:34.6	whole life as an investment vehicle.
0:36.8	How would you want to find your opinion on that?
0:39.2	It was presented to us, and I really don't know a lot about it.
0:41.9	Oh, okay.
0:42.9	All right.
0:43.9	We'll be, we'll have the house paid off here in the next few years.
0:47.6	So if we did a short term and then started converting is what this person was telling
0:51.5	us, we could use it as an investment vehicle and they paid dividends to us.
0:55.7	And I don't understand that.
	...

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