• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar

Visual Reality Online

  • Home
  • What is Personal Auto Insurance?
    • Automobile Liability Coverage
    • Collision Coverage
    • Comprehensive Coverage
  • What is Commercial Vehicle Insurance?
    • Bodily Injury Liability Coverage
    • Uninsured Motorist Coverage
    • Medical Payments Coverage
  • About Us
  • Contact Us

Is Universal Life Insurance A Good Idea?

December 21, 2019 By Hugh

Is Universal Life Insurance A Good Idea?

Is Universal Life Insurance A Good Idea?


In this video, Dave Ramsey talks to Cynthia in Charleston. She has an indexed universal life policy with a death benefit and wants Dave to explain if that’s a good way to go.

Dave says not to keep it because of all the fees it will constantly accrue, plus the insurance is expensive. It’s hard to take those investments apart and compare them — when you get investments and insurance together, the investments do not perform as they should.

If you went straight to the mutual funds, you won’t have to pay the fees that come along with insurance.

Usually, the insurance side factors in ART, annual rate of return. The older you get, the more it costs to cover you. And, because its more expensive to cover you each year, less and less goes to investments in this product.

What Dave recommends is Level Term, meaning you pay the same amount each month, which you can get by going and shopping quotes for 10-12x your income.

Once your term life policy in in place, cancel the other policy and invest the difference. Even if you have coverage at work, make sure you have some outside of work in case of a medical event that would make you uninsurable in the marketplace.

The Dave Ramsey Show channel will change the way you experience one of the most popular radio shows in the country! Watch video profiles of debt-free callers and see them call in live from Ramsey Solutions. The show live streams on YouTube M-F 2-5pm ET! You can stream it live here:

Primary Sidebar

Pages

  • What is Commercial Vehicle Insurance?
    • Bodily Injury Liability Coverage
    • Medical Payments Coverage
    • Uninsured Motorist Coverage
  • What is Personal Auto Insurance?
    • Automobile Liability Coverage
    • Collision Coverage
    • Comprehensive Coverage
  • About Us
  • Contact Us

Latest Videos

  • Absa Life Insurance

    Absa Life Insurance

    February 23, 2020
  • Paul Reviews Policygenius – Life Insurance :30

    Paul Reviews Policygenius – Life Insurance :30

    February 22, 2020
  • Playtime With Dad | MS Dhoni | Exide Life Insurance | Partnership For Life

    Playtime With Dad | MS Dhoni | Exide Life Insurance | Partnership For Life

    February 21, 2020
  • TruStage: The Life Insurance You Need

    TruStage: The Life Insurance You Need

    February 20, 2020
  • Term Life Insurance On Policybazaar.com

    Term Life Insurance On Policybazaar.com

    February 19, 2020

Like Us

Facebook
Facebook
fb-share-icon
Twitter
Visit Us
Tweet
YouTube
Copyright © 2021 · Visual Reality Online | All rights reserved.