I Was Sold a Universal Life Policy

The Ramsey Show Highlights

Ramsey Network

Self-improvement, Education, Investing, Business

4.6 • 682 Ratings

🗓️ 25 January 2024

⏱️ 8 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

💵 EveryDollar - The simplest way to budget for your life! Did you miss the latest Ramsey Show episode? Don’t worry—we’ve got you covered! Get all the highlights you missed plus some of the best moments from the show. Watch entertaining calls, Dave Rants, guest interviews, and more! 📞 Have a question for the show? Call 888-825-5225 Weekdays from 2-5pm ET or click here! 🏦 Take Your 3-Minute Money Assessment - Get a personalized money plan! Listen to more from Ramsey Network 🎙️ The Ramsey Show 🧠 The Dr. John Delony Show 🍸 Smart Money Happy Hour 💡 The Rachel Cruze Show 💰 George Kamel 💼 The Ken Coleman Show 📈 EntreLeadership 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

Click on a timestamp to play from that location

0:00.0	Brought to you by the Every Dollar app. Start budgeting for free today. Dalton is with us in
0:07.4	Indianapolis to start this hour. Hi, Dalton. Welcome to the Ramsey Show.
0:12.0	Hello, thank you for having me. Sure. What's up? So about a year ago, soon after I got my first job, I invested into an IUL due to talking
0:24.8	to my parents' financial advisor.
0:27.2	And since after having kind of see some of your work and I saw one of the videos you guys
0:32.2	talking about it, and I kind of looked into it myself, I kind of decided I would like to get
0:35.6	out of this.
0:36.6	However, the problem is,
0:37.8	is there the surrender charge. So I have about, um, I've been invested since last November and I have
0:43.4	about like $1,500 invested. But if I were to try, I can't transfer it into anything else. If I
0:49.6	try to leave it, I'd be left with $400. And the, uh doesn't go away until like another 10 years, and I'd have to keep
0:57.4	investing.
0:58.4	So I'm not sure what to do about this.
1:03.1	Well, it sounds like you've lost $1,100 to me.
1:08.5	Yeah.
1:09.5	And make note that this guy screwed you, putting you into this product.
1:16.4	I mean, put you in a product that the only way you avoid surrender charges is 10 years?
1:22.1	Mm-hmm.
1:23.0	Oh, man.
1:23.7	How old are you?
1:25.6	20.
1:26.4	Good Lord.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Ramsey Network, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Ramsey Network and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.