Dave Ramsey calls whole life insurance a scam, but we’re breaking down why his statements are misleading, and what he’s not telling you about how it really works. In this video, we go line-by-line through his article, fact-checking his claims, and explaining how wealthy people actually use whole life policies for the Infinite Banking Concept.

If you're ready to learn more you've got to watch our full Save & Spend Presentation and then schedule a FREE call with us at: https://thebankingbros.com/save-and-spend-system-podcast-link

If you're interested in the source material (we didn't come up with this!), we'd highly recommend that you get a hold of R. Nelson Nash's book: Becoming your Own Banker (5th Edition) https://amzn.to/2ZMw0h6

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Shownotes: 

00:00 - Intro – Breaking down Dave Ramsey’s claims

02:18 - Dave’s stance on permanent life insurance

05:21 - Why “you’ll probably pay more than you get” is wrong

07:05 - Whole life vs. other types of insurance

09:50 - Mislabeling cash value as “savings”

13:18 - Premiums and costs explained

15:09 - Cash value guarantees – New York Life example

18:42 - Death benefit and guaranteed payout

22:03 - “Whole life is a rip off” – opinion vs. fact

26:39 - Why mutual funds aren’t a guaranteed better option

30:20 - How to fact-check financial advice

34:44 - Final thoughts – Is whole life for you?