Life Insurance coverage as an Funding – Dave Ramsey Rant
https://www.youtube .com/watch?v=fEXookeA2Ok
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My LIRP has grown substantially, I do not know what this guy is thinking. We will be in a position to retire significantly sooner than we believed due to our LIRP. DO NOT LISTEN to this drivel. IF you make enough money and can fund your LIRP appropriately it is a HUGE tax benefit.
@astroman30 Not a loan.
@astroman30 You can withdraw gains, tax free. I just keep making my premium, it keeps growing.. in a few years I can take another withdraw… or maybe next month.. whenever I want to.
@astroman30 The benefit is 1.2 million.
@Scott M. you could’ve bought a term with a DB of equal value at a fraction of the cost
You offer an incomplete representation of available LI products.
Such as…?
Life insurance technically isn’t an investment product, it’s an insurance product, just saying
THANKS 🙏🏾 DAVE!!!
When it comes to the world of investing, most people don’t know where to start. Fortunately, great investors of the past and present can provide us with guidance 💯
Mrs Maureen is legit and her method works like magic I keep earning every single week with her new strategy
My dude just used his platform to get a family out of life insurance, when it’s a perfectly safe (tax Free) option.. Go get a 401k instead let inflation and taxes eat it all (if it doesn’t collapse before you retire).
What part of “The insurance company keeps your cash value” do you not understand?
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.
I’m not planning on buying life insurance. Whoever inherit my estate will get whatever assets and $$$ I got. That’s going to be a lot.
I agree. Being self insured is the best route.
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.
Greatest life insurance…Jesus died for all mans sins if you believe Jesus died for you and trust in this to pay for your sins you shall be saved.Jesus is the door into heaven.
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.
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.
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?
@E B 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.
Let me get the commission by selling you Zanders Insurance
He doesn’t own Zander Insurance. Try harder.
Life insurance doesnt work for me. donT need a death benefit when i have nobody im taking care of anyway.