Life Insurance 101: Term Life Insurance vs Whole Life Insurance


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24 Replies to “Life Insurance 101: Term Life Insurance vs Whole Life Insurance”

  1. @owenbuca You can't come up with a logical rebuttal to what I said, other than try to insult and force your opinion… If you wanted to try posting facts, then you'd actually post things that agreed with me…. You aren't a licensed advisor, you're vastly incorrect off what you've posted, and you aren't held to any regulatory standards for your advice.

  2. I also prefer term life insurance in most cases but your illustration of 12% consistently in a mutual fund is pure fantasy. If you over project the growth of a mutual fund it is just as misleading as over estimating dividends or interest in a cash value plan..Your statement of a company taking 6 months to deliver a loan is also false. Promote term but let's keep this honest and unbiased.

  3. This video is absolutely riddled with errors. 6 moths to get a loan from your policy? Try only a few days. In whole life policies, face value grows over time (At least with the products I sell). You would NOT be taxed on all of the cash value; only on the dividends earned. Term life does have a purpose. But it is not the complete answer for anyone who wants to protect their estate from the taxman, or to provide coverage for a long life. This video is completely unprofessional.

  4. Insurance agents with companies like Primerica (like the guy in the video) or make $40k/year and are stuck with Dave Ramsey's unlicensed and hugely unprofessional advice. Someone that's capable of doing macroeconomic analysis (not many have the brains or the tools to do it) will tell you everyone should have term and want to own a lot of permanent. You guys understand it's not Buy Term and Invest vs. own Whole Life, right? It's Buy Term and Invest or own Whole Life and have MORE to invest…

  5. You should have done more research. A whole Life policy does no increase as you age, the premiums are set at 7, 10 or to 65. You describe a Universal life policy by definition is a flexible premium. No investment has earned 12%.

  6. the buy cheap term insurance and invest the savings requires the life insured to be knowledgable of the investment market to go out and invest those savings themselves. with the cash value life ins, the insurer gives a guarantee of sometimes 75% to 100% of capital invested. plus there's the life insurance, plus there's the interest earned. it's a win win win sitution for the life insured. Especially if they choose to invest according to index.

  7. explain how it works Clifford!!!!the premiums are set for 7,10 or to 65. but the premiums go up inside the policy and the insurance company takes the money from the cash value to pay the increased premium until the cash value is gone then they send you a bill you have to pay or you lose the policy. Tell the whole truth. It's all in the policy!!!!

  8. there are more $100,000 earners in primerica than in any other company in the country. Google it. My goal is to educate the customer so people like you can not take advantage of them selling them your high commission crap. but term and invest the difference wins every time. the numbers don't lie. you do. so you can make a high commission.

  9. I understand you hate us because we rewrite a lot of your policies and do what is right for the customer 100% of the time not what is best for our wallet like the high commission cash value policies you sell.

  10. Uh huh. You know nothing about the company I represent. We are one of the oldest mutual companies in the world. I sell term I sell universal. I sell whole life. I base what I sell on the individual needs of my clients. I do not need to resort to twisting, which is illegal. I do not care what I sell. As long as the product fits the needs of the client. No, I do not hate Primerica. It is just another competitor. 

  11. You straight up lie. I am an expert, I have a license. I listen to the experts. people who can afford my dreams. I have pure logical rebuttals to you selling you high commission whole life policies. The facts are right there in your policies and once I take the time to show the customer in your policies the truth about how they work, that you didn't take the time to, just took their money and ran. they can not wait for me to replace what you sold them. If you want to chat bring your lunch 

  12. Hiyaaaa! Loved your video! On a similar note; have you used the services from " Your Insurance Guy Singapore " (Have a quick look on google…cant remember the exact words)? My company had some dealings with them and was impressed by their amazing speed of claims & their awareness of the outpatient insurance industry was really profound! For the records, they can represent General insurance companies like QBE. 

  13. His theory on Term insurance is partially correct. All life insurance plans are just financial planning tools. He failed to explain that term insurance is great for young adults and families. But not great for seniors. The cost of term insurance for seniors is usually the same price as a permanent policy or more and would also continue to increase yearly. When I worked with PFS I remember people calling the office because they had turned 71 and their term policy was coming to an end and they could not afford the increase in premium and did not want to lower their death benefit. The RVP had no options for that client and unfortunately the client had no savings. In such a case that client would have to eventually purchase a whole life policy because they needed a fixed death benefit and payment.  Again all insurance plans are just tools based on what cycle of life a person is in.  There is not one plan thats better than another. Thats why its called Financial Planning.

  14. NEVER EVER put your money in whole life, universal life, variable life or any other cash value insurance policy. Stick with TERM insurance if you need it. Invest the rest in low cost bond / stock index funds.

    "You do not purchase insurance for investment purposes." – Ric Edelman

    "Insurance needs to be insurance. Investments need to be investments. You should never combine the two ever, ever, ever!" — Suze Orman

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