As a 39 year old widow who’s 40 year husband just died a month ago. Pleassssse, get the highest amount of life insurance that your job lets you elect. Not just for funeral expenses, but there is so many other things you have to pay for and do when someone passes away. Im so thankful my husband got the highest amount when he selected a policy with his job. I was shocked and so incredibly grateful he chose the 250k policy!!!
@@jimhandler1129 you stop when you have no dependents. Your term policy should extend to the age where your children can be independent. 60 years olds don't need life insurance at all. Someone with a baby only needs a 20 year policy, for example.
You can thank Art Williams for the Term Insurance you can get today...prior to him, the insurance industry kept a stranglehold on the policy offerings by keeping term out of the equation! Hence: Converting Term Insurance to a cash value policy was called conversion... Converting a cash value policy to Term was called Twisting! They MADE their money by selling you the over priced cash value policies! Term Insurance Rules!👍🤠
Both my parents passed without any life insurance. I’ve been fighting my whole life to make it this far. I have 100k job policy but now I’m looking at getting my own. 40yo with 2 adult children.
I agree with Dave on almost everything. As an insurance agent I find many people in their 60's and late 50's needing life insurance and no longer being insurable. People do not invest the difference between whole life and term.
I invest the difference and then some. I only have kept my ULI because I got it in my 20's when the premium was cheap. I tripled my coverage with a 20 year term policy to get me through to retirement.
The purpose of life insurance is to cover debts that if you were to die early. Your income is needed by your family and if you die, life insurance is paid out and it covers them from that lost income. It also helps with burial cost versus begging people on GoFundMe to bury you.
Can i have more then one life insurance and im looking at going into the military in the event something happens i know they provide life insurance but i wanted term insurance as well so how would i know how much term insurance i would need? I have two kids as well with my husband who is a dosabled vet and will be staying with the kids
The top carries Prudential, Mass Mutual, Lincoln Life, Protective Life, John Hancock, National Life, Guardian Life, Banner Life, and US Life, North Western Mutual, Nation Wide, All State. etc
I've been single since 2009 and I've worked jobs where I had life insurance through my employers but you lose it when you leave the employer. I am 63 now and I have an adult son I'd like to leave money to if I should pass away at some point. Did I miss the ship to getting term life at this age? Any suggestions?? TY
No you haven't missed the ship but it may be more expensive due to age. Depending on the company you may be able to get a 10-15 year term policy. Whole will definitely be more expensive but it could also be helpful not because of cash value but just due to age.
Hey Dave I'm 44 yrs old I have a life insurance policy that is a iul and hearing what it is now I don't wanted it anymore? I had the policy for about 5 months now and after hearing what it dose I don't wanted it anymore. Is it better to go with a term life insurance or a whole life
You don't need that policy anymore. Life insurance does not have to last for life. It has to cover debts and those who depend on your income. Unless you or your wife have major health issues and will be paying large medical expenses, your net worth should cover the need. Focus on building your net worth with investing.
30+ yrs ago, my employer's benefit insurance had a 200k policy for $15 per mos. Done Later being disabled from working, my policy continues premium free until 65yrs old.
Life insurance coverage is so much more than just paying off debt. He is not considering this. If I am 25 and get a 20 year term and think because I have no debt and a million in the bank I am a fool. You should have terms that covers you until you retire. Someone is still dependent on your income and we are talking about a lifetime of giving that is also lost. Wouldn’t you want your wife to let that million sit and grow until she is ready to retire? Always go with the 30 year term if you can afford it and consider an additional later to make sure you have coverage until retirement.
Wait a second. I may have missed it but I didn’t hear any information on how to choose the amount of life insurance. I heard them discussing the duration of the policy but not how to choose how much.
But a 30 year policy for $500k its probably $30-40/month. Listen to a few horror stories a wives who lost there husbands young. Then after kids assuming your income is increasing get another policy like Dave said. But longer the better
We are in our 70s and dropped all our term because all my debt is long gone. Our income is from investments so the only thing that would happen is she would be better off because she won't have to feed me anymore.
You don't have to be a grammar nerd to know the difference. The words "to" and "too" have two different meanings. Its just effective communication to spell correctly. ..Its all about talking good American.
Just buy a whole life policy at age 25 and have coverage the rest of your life, if you don't need it to cover pre-mature death, then it is a great estate tool that you pass to your kids or favorite charity.
25 don't buy insurance.................................................you are just paying for the intelligent, smart, independent women.............. If they are all of that...............she wont worry.
How can l, Personally, Cash-ln, On, and Use my, Own, Life-lnsurance, Money, For myself, After l die, Please? I wanna live in Luxury and Party, Like there's no Tomorrow! :D
@@johnd7304 you don’t need a licensed plumber to know what’s inside the septic tank. You like this garbage for the commission and could care less that it scams people.
I’m surprised this grammatical error slipped past Dave’s social media team. This is a grave error and someone needs to not be fired, but demoted. Like what?
All term is not created equal there are level terms. Read your policy no matter what the type. The policy illustration table will tell you what exactly to expect. Only go by the Guaranteed tables.
As a 39 year old widow who’s 40 year husband just died a month ago. Pleassssse, get the highest amount of life insurance that your job lets you elect. Not just for funeral expenses, but there is so many other things you have to pay for and do when someone passes away. Im so thankful my husband got the highest amount when he selected a policy with his job. I was shocked and so incredibly grateful he chose the 250k policy!!!
if i was married to a woman ide get at least 250k. We have to because , it really sucks, but for some reason men just dont live as long in general.
I'm so sorry for your loss. 40 is so young. Prayers to you and all who knew him.
@@tonypeters3320 look into real estate investing Tony u can do it 👍
@@NuttedInYoMom I already invest in real estate 😆.
I couldn't believe you and your husband trusted this guy in finance. This guy is the worst finance person go to about it
He always gives straightforward pieces of advice by asking what your current situation or health condition is. Love the no-nonsense talk!
In my head Dave said “I hardly seen the inside of a hospital unless I worked there” 😂
I would like to know what insurance companies to go with.
My husband was 60 when we went to Zander for term life. It is $414 per month
That is high for us
No Durr 60 is old and higher risk for insurance companies.
Why are you buying life insurance at 60?
@@ghjong001 When would you stop? I'm 60 now and debating whether to renew my policy as they want to increase it by 50%
@@jimhandler1129 you stop when you have no dependents. Your term policy should extend to the age where your children can be independent. 60 years olds don't need life insurance at all. Someone with a baby only needs a 20 year policy, for example.
You can thank Art Williams for the Term Insurance you can get today...prior to him, the insurance industry kept a stranglehold on the policy offerings by keeping term out of the equation!
Hence: Converting Term Insurance to a cash value policy was called conversion...
Converting a cash value policy to Term was called Twisting!
They MADE their money by selling you the over priced cash value policies!
Term Insurance Rules!👍🤠
Both my parents passed without any life insurance. I’ve been fighting my whole life to make it this far. I have 100k job policy but now I’m looking at getting my own. 40yo with 2 adult children.
You can get an affordable 300k death benefit term policy.
@@astroman30 yeah I’m thinking 500-1M. But I keep forgetting to make the call smh
@@geebashiri3315 why do you need life insurance if nobody depends on your income?
@@d_all_in I still support my daughters, they are adults but young adults
@@geebashiri3315Who Is A Great Company To Get It From Or Who Are You Going With? I’m 30 With 2 & Want To Make We All Covered.
A toast: To much insurance!
Too*
Im so glad you are explaining this. I wasn't really taught much about this and was so lost.
*Too
It should be spelled "too."
'it is to much insurance that I blame my lack of money'
Maybe? :D
@@mariosencario 😂
Here goes the spelling police again!
@@reese85 If he or his team can't spell, why would I listen to his financial advice?
@@delvedigital9411 there advice has nothing to do with how they spell!
A young guy asks the question and gets an old guy and a middle aged guys response perfect.
I agree with Dave on almost everything. As an insurance agent I find many people in their 60's and late 50's needing life insurance and no longer being insurable. People do not invest the difference between whole life and term.
I invest the difference and then some. I only have kept my ULI because I got it in my 20's when the premium was cheap. I tripled my coverage with a 20 year term policy to get me through to retirement.
They are insurable. You just don't know how.
Of course you sell whole life 😂
Thank you for all the inspiration.
I still don't understand life insurance 😭
Same here what i understand it’s a rip off
The purpose of life insurance is to cover debts that if you were to die early. Your income is needed by your family and if you die, life insurance is paid out and it covers them from that lost income. It also helps with burial cost versus begging people on GoFundMe to bury you.
@@feliciankovacs Whole would most likely be, term isn't. Definitely a wise choice if you can afford.
I love how they crack jokes back and forth. "That sounds like that came from experience" 😂
Can i have more then one life insurance and im looking at going into the military in the event something happens i know they provide life insurance but i wanted term insurance as well so how would i know how much term insurance i would need? I have two kids as well with my husband who is a dosabled vet and will be staying with the kids
We were in the military and we have tons of insurance policies. Check out our episode on life insurance for military.
Oof. I to worry about insurance prices.
They were using tables from the 1940's ?
Oh my. In the 1950's almost 50% of people smoked. Now it's just slightly north of 10%
Hello what company y’all recommend for term life insurance? Thank you
Primerica
Zanders term life insurance its ramsey approved
The top carries Prudential, Mass Mutual, Lincoln Life, Protective Life, John Hancock, National Life, Guardian Life, Banner Life, and US Life, North Western Mutual, Nation Wide, All State. etc
*too
Just before i filled put the insurance for on my new job i searched for rhis video. Thanks! I almost got too much.
Shouldn't listen to dave about insurance. He's a mutual fund guy, and knows little to nothing about insurance
I've been single since 2009 and I've worked jobs where I had life insurance through my employers but you lose it when you leave the employer. I am 63 now and I have an adult son I'd like to leave money to if I should pass away at some point. Did I miss the ship to getting term life at this age? Any suggestions?? TY
No you haven't missed the ship but it may be more expensive due to age. Depending on the company you may be able to get a 10-15 year term policy. Whole will definitely be more expensive but it could also be helpful not because of cash value but just due to age.
Hey Dave I'm 44 yrs old I have a life insurance policy that is a iul and hearing what it is now I don't wanted it anymore? I had the policy for about 5 months now and after hearing what it dose I don't wanted it anymore. Is it better to go with a term life insurance or a whole life
Term
how do I invest money in the mutual fund?
High interest rates right now will help drive down rates too
Then dont go into debt lolz
What about life insurance for kids?
Scam
Where is there a video that makes all of this makes sense??
Hi sir, for someone in their 60s good health no smoker would you recommend 20 year or 30 year policy?Thank you
20 year at most.
You don't need life insurance unless someone depends on your income.
Depending on your state 20.
what happens if your or his health fails you after the 20yr term expires. will he or you be able to get coverage?
You're supposed to buy term and invest the difference. Won't need life insurance as you get older.
I woy love to see these mutuals funds dave talks about that have been returning 10 percent
I can show you. Multiple funds in multiple fund families. Where do you invest?
When do I stop term life insurance? If I'm 60 & only my wife relies on my income with a 1.5M net worth, do I stop my $250K policy?
It's up to you. I would keep it.
You don't need that policy anymore. Life insurance does not have to last for life.
It has to cover debts and those who depend on your income. Unless you or your wife have major health issues and will be paying large medical expenses, your net worth should cover the need. Focus on building your net worth with investing.
I hope you can see my answer since it's been a year.😊
@@kai85kai Thank you, I followed your advice
@@kai85kai I just saw it now. 🫢 I have no idea how that happened. Sorry 🥴
30+ yrs ago, my employer's benefit insurance had a 200k policy for $15 per mos. Done
Later being disabled from working, my policy continues premium free until 65yrs old.
What is 100% self insured
When you have enough money/investments that life insurance is no longer needed.
Life insurance coverage is so much more than just paying off debt. He is not considering this. If I am 25 and get a 20 year term and think because I have no debt and a million in the bank I am a fool. You should have terms that covers you until you retire.
Someone is still dependent on your income and we are talking about a lifetime of giving that is also lost. Wouldn’t you want your wife to let that million sit and grow until she is ready to retire?
Always go with the 30 year term if you can afford it and consider an additional later to make sure you have coverage until retirement.
Where do you get this advice from
Wait a second. I may have missed it but I didn’t hear any information on how to choose the amount of life insurance. I heard them discussing the duration of the policy but not how to choose how much.
10 times your annual income.
So a mutual fund can give you 10% a year? Even in this recession?
It's an average
Nopes
More than 10% since you commented this 😂
Yikes, please correct the spelling and the thumbnail!
Dave’s most popular video ever as people scramble to react to the bad thumbnail.
why don’t you buy for twenty years and save up few million dollars by the time you are 45 then no need for insurance
But a 30 year policy for $500k its probably $30-40/month. Listen to a few horror stories a wives who lost there husbands young. Then after kids assuming your income is increasing get another policy like Dave said. But longer the better
We are in our 70s and dropped all our term because all my debt is long gone. Our income is from investments so the only thing that would happen is she would be better off because she won't have to feed me anymore.
Not a good look when your UA-cam title screen has a misspelling
It’s really not that serious
@@reese85 it’s really quite embarrassing
@@dannyk1980 y’all be focusing on the wrong thing! A spelling error is far from a big deal! I’m sure your not the greatest at it
@@reese85 *you’re
@@dannyk1980 man y’all crazy!
Too
You don't have to be a grammar nerd to know the difference. The words "to" and "too" have two different meanings. Its just effective communication to spell correctly.
..Its all about talking good American.
Warning grammar police
@@alinatamashevich3354 The irony is that many of these grammar police make a mistake themselves. I think he meant "It's* just effective"
@@AfroteliCorrect! That is why I hire someone for that menial work
Dave’s farming out thumbnails to lowest offshore bidder.
The older you get, the more expensive it will be. If things change, you can always add on.
Thanks for the recap. 🤣
@@JustinCase780 Jimmy thinks he is smarter than Dave
@@alinatamashevich3354 Yep. 🤣
Jimmy Numbnuts
@@JustinCase780 I have a standing offer of a Hundo, for him to call in and take Dave to task, to date ....crickets.
@@alinatamashevich3354 🤣🤣🤣
OMG... IT'S TOO, TOO, TOO!
You guys are two much. 😂
Maybe hire a new guy to do the thumbnails. I can see education has failed him/her/zim/zer.
Look at all the comments they are getting. That is excellent social media skills!
There is no mutual fund making 10 percent. Ur lucky at 4~5 percent. This guy just babbles on at times.
that co-host is 23??!? Damn yall wyp aging fast LOL!
*tew
TOO
Grammar error in the thumbnail, should read too much not to much
Smart Investor Pro lol
I agree with Tom Watson on this.
Saves you on cigarettes for sure
*Two
Just buy a whole life policy at age 25 and have coverage the rest of your life, if you don't need it to cover pre-mature death, then it is a great estate tool that you pass to your kids or favorite charity.
25 don't buy insurance.................................................you are just paying for the intelligent, smart, independent women.............. If they are all of that...............she wont worry.
✝️🙏
How can l, Personally, Cash-ln, On, and Use my, Own, Life-lnsurance, Money, For myself, After l die, Please? I wanna live in Luxury and Party, Like there's no Tomorrow! :D
Josiah should be talking with a qualified life insurance agent not this charlatan who goes by the name of Dave Ramsey.
Says the lying insurance agent.
@@astroman30 are you the lying insurance agent? I don’t believe Dave has an insurance license.
@@johnd7304 you don’t need a licensed plumber to know what’s inside the septic tank. You like this garbage for the commission and could care less that it scams people.
I’m surprised this grammatical error slipped past Dave’s social media team. This is a grave error and someone needs to not be fired, but demoted. Like what?
With Term Life insurance it goes up every so often
All term is not created equal there are level terms.
Read your policy no matter what the type. The policy illustration table will tell you what exactly to expect. Only go by the Guaranteed tables.
Term is a sunk cost.
@Thewealthwarehousepodcast Ok Thanks
Too*
*Two