49 thoughts on “This Is Why Universal Life Insurance Is CRAP!”
  1. With inflation currently at about 10%, my primary concern is how to grow my reserve of 240k$ which has been in sitting duck since forever with zero to no gains, sure I'm all in on the long term game, but with my savings are lying waste to inflation and my portfolio losing gains every day, I need a remedy asap

  2. I actually agreed with this until they started talking about whole life and universal life like they are the same product, which is a very common mistake with people that trash whole life. While whole life and Universal life policy's are both "permanent" insurance, they are completely different. Dave actually explains Universal life pretty well with his two different components concept.

  3. Stay away from any "Advisor" who says always and never when it comes to financial tools. Usually the problem they have with them is either they, nor their sponsors offer those products. Dave Ramsey is case in point.
    All tools are useful in some situations but none are useful in all situations.
    The "stay away from these twisted people" is the only safe "always" when it comes to finance.

    Their explanation, here exhibits their simpleton knowledge of these products.
    How did you build your big headquarters in Franklin, TN Dave? If we should hate other companies for this, why not you?

    So dumb.

  4. As any true insurance professional would advice. There are some insurance products that are good for some but obviously not for everyone. Obvious it is wise to always do your homework before purchasing anything. Since people all have different situations there is alot to consider. Insurance agents with integrity are worth seeking out. They can add value to ones situation when placed in the correct insurance product.

  5. Dave has a plan through national life group😂 dude is a clown. This is the issue with the world listening to people like Dave! Funny how most successful people don’t ever listen to this guy!

  6. I disagree with Dave respectful. First Depending on the UL policy you get it may ,or may not come with an cash value. Essential you are buying longer term life policy. In addition UL give you the flexibility to increase the death benefit later in life ,or lower it.

    Dave is wrong by saying term is the only life policy to buy. As we get older term gets excessively expressive ,and Universal life are traditional more affordable. Definitely talk to an ethical licensed insurance agent ,but it is situational. One does not fit at all 👍.

  7. Seems like everything's a Gamble. Need to focus on how to grow your money without stupid risk. Save save and get out of debt, slow growth better than losing everything making someone else's rich.

  8. My son had a friend trying to get him to buy a whole life/cash value policy…gave him quotes for their term and cash value policies…I showed my son that if he just took the term policy and put the difference under his mattress, that he would have way more money than the cash value policy would have plus the only way to get the money was to borrow it!!😱 And if he died they'd only get the face value of the policy, not any of the savings! Term on the other hand would give the face value plus all the money under the mattress…more if the money had been invested in a good mutual fund! The moral of the story is to buy term insurance and invest the difference in a good mutual fund!👍🤠

  9. My disabled Sick husband has a 30 year policy. He is too old and too sick to get new policy. It does have a small cash value that might cover a funeral. So what now?

  10. I'm currently taking the Series 63 exam through FINRA and theres a section that defines what is and isn't a security. Guess what falls into the category of not…. Universal and whole life! I don't understand how it's legal for them to call it an investment

  11. First mistake – if you purchase an option B increasing death benefit, then it equals face value plus cash value at death.
    Second mistake- term insurance will end after 15 or 20 or 30 years…right when you need it! UL is permanent insurance and its costs more because it will be there so long as you want to pay the premium. Also, it is good for legacy building because the death benefits are tax free!
    Dave- stop being so one sided and admit there are good reasons to have permanent universal life type insurance!

  12. What about all these "cash value" life insurance all the life insurance people pitch. Never liked life insurance.. if i die I'll just leave my family with everything i got. My computer and tv.. lol

  13. Yep. Sounds pretty much like whole life. When my mom passed all they paid out was face value. They didn’t pay out what she saved in it. That’s what they called her “cash out value” if she closed out her life insurance. Whole/universal life policy agents hate me because I will steer people away from their bs.

  14. There's nothing really useful about this insurance other than it uses the term Universal. That's why always ask questions to people with real knowledge and compassion to guide you in making decisions like this or do your research. It will save you a lot.

  15. Speaking about life insurance as an investment seems totally backwards to me. That's not the point. I've watched a lot of people succumb to life circumstances despite their best layed plans and become uninsurable, wishing that they'd have locked in a gauranteed premium/gauranteed death benefit years ago. I completely agree that it's not an investment, but to me, there's money that you KNOW and money you GROW. As long as you're keeping the purpose and perspective in mind strictly for insurance purposes, I see the value in avoiding uninsurability later on if needed.

  16. Have term life through work for next to nothing. Once I retire, I will not have life insurance as we won't need it. Self insured is the way to be baby !!

  17. Just like Dave said about bank and insurance company buildings… my Mom told me "Look at how fancy that casino is? Do you think they built such an awesome looking building by giving money away?"

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