Top financial entertainer Dave Ramsey has expressed adamant opinions in his videos about infinite banking and whole life insurance in general. Unfortunately, Dave incorrect in many of his beliefs and misleads many to wrong conclusions about the importance of these concepts and strategies. In this reaction video, Steve addresses a recent Ramsey show, exposing the factual inaccuracies and discussing concerns to set the record straight.

📖 Chapter Timestamps Here ⏰
0:00 intro
0:53 Dividends are simply return of premium
3:16 "Real Financial Advisor"
4:58 "These products are horrendous"
6:08 "You're borrowing your own money?"
6:40 "The cash values that are sitting there all die with you"
8:10 Final thoughts

Besides the guaranteed cash value growth benefit of whole life insurance, there are also companies that pay out a life insurance dividend. Dividends are profits from the mutual insurance company, paid to participating policyholders, that can be used to purchase additional paid up life insurance, which further grows the policy in true compound interest fashion, without the fear of loss. Having dividends classified as return of premium allows the insurance company to pay them to policyholders tax free.

A real financial advisor would have an intimate knowledge of all types of assets, including cash value life insurance. It is important for a financial advisor to consider the whole picture, and not offer one-size-fits all approach, where the majority of your money is given to money managers, outside of your control.

A properly designed dividend paying whole life insurance policy built for high cash value growth, using paid up additions and term insurance, have been shown to provide excellent returns, particularly when you consider the tax advantages that go along with those returns. The policy also offers a death benefit that at the policy inception is orders of magnitude greater than the cash value account balance. Additionally, these policies offer creditor protection in most states.

When you use your cash value as collateral for a life insurance loan, your total cash value account continues its compound growth. So you still are making money in your cash value account, while simultaneously potentially making money in the asset your took the loan out to purchase.

With a properly designed dividend paying whole life insurance policy, your cash value is used to help grow your death benefit. As you age, your death benefit will increase along with your cash value. It is similar to equity in your home. When you sell your home you do not get the equity and the selling price, since the equity is part of the home. Similarly, the cash value is buying a death benefit, so when you die you get the increased death benefit which includes the cash value in the policy.

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DISCLAIMER: All content in this video is for educational purposes only and is not to be interpreted as personal financial advice. Always do your own due diligence.

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