Why Cash Value Life Insurance??

[blackmamba]

Originally Posted by Dink

Over my head.....but I do have 1 thing to say......

Cash Is King!!!!!

And debt is dumb!!!

Whole life with cash value is not a good investment tool if that is the only way you are investing but I don't think it is as bad as Dave makes it out to be. Raymond is right about Dave Ramsey speaking more to the people that are deep in debt but need life insurance for their families. Term insurance would be better and cheaper for them.... I have both. I have a little bit of whole life with enough Term life to get me to the number I believe my family would need to be comfortable. For me, the whole life I have is a small investment that has a guaranteed cash value of not much less than what I will have put in, but the potential to be higher. I like it because it does provide insurance for my family but I will not totally lose my money and the premium will remain the same until I reach retirement age. IMO, I think you should have both until you are SELF INSURED (Dave Ramsey term)