My Mom Wants To Spend $500,000 A Year In Life Insurance

The Ramsey Show Highlights

Ramsey Network

Business, Education, Investing, Self-improvement

4.5 • 839 Ratings

🗓️ 19 February 2026

⏱️ 10 minutes

🔗️ Recording | iTunes | RSS

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Transcript

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0:00.0	Xander shops all the top-term insurance companies to save you money.
0:06.8	Get started at zander.com.
0:08.6	And then a bit of an unusual position where my parents did well in life, and now at the end of their lives,
0:16.6	my mom is facing some decisions with life insurance for an estate strategy plan.
0:21.6	Okay.
0:22.0	Her team wants her to buy $500,000 a year in life insurance, and I'm trying to convince
0:30.5	her that there are better products available.
0:33.0	Who encourages us?
0:34.0	She has a financial planning team.
0:37.5	Okay.
0:37.9	How big is her estate?
0:39.3	What is their net worth?
0:41.3	Probably about $60 million.
0:42.8	Okay.
0:44.7	Now, there are at this level, there are, you know, there's life insurance strategies that a lot of advisors use to protect the estate.
0:55.6	So I don't want to just go in going,
1:01.3	this is a rip off. They're trying to screw her over. That may not be the case here. When we talk about life insurance, we're talking about, you know, whole life policies for the average
1:05.3	everyday American when they're getting ripped off at 600 bucks a month. So when we have a
1:10.4	$60 million of state, there are situations where paying a half a million
1:14.7	a year to protect, you know, for $20 million savings could be worth it.
1:20.7	So have you got any intel from the advisor?
1:24.0	Yeah, she got a couple of policies.
	...

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