So Suze Orman Likes Whole Life Insurance Now?

[BNTRS]

Suze Orman Life Insurance | The Insurance Pro Blog

We stumbled across this little beauty (see the first video) this week. Had never seen it before, and minds were blown after watching it.

Apparently Suze has changed her position on whole and universal life insurance.

Oh you are one of the lucky ones...

...oh you are sitting pretty.

This happy moment brought to you by cash value life insurance.

 

[xrac]

Suze Orman Life Insurance | The Insurance Pro Blog

We stumbled across this little beauty (see the first video) this week. Had never seen it before, and minds were blown after watching it.

Apparently Suze has changed her position on whole and universal life insurance.

This happy moment brought to you by cash value life insurance.

That is nice to know but you can't fix stupid when it comes to Dave Ramsey.

 

[VolAgent]

That is nice to know but you can't fix stupid when it comes to Dave Ramsey.

JMO, Dave has failed at everything in life but self-promotion.

 

[STIBROKER]

That is nice to know but you can't fix stupid when it comes to Dave Ramsey.

 

[Cory]

Too funny...I'm certain I saw that on Mythbusters' Duct tape episode.

 

[branmak]

Maybe you could post some examples?

Yes, I'd like to know what stats you're referring to. I would have guessed the opposite.

 

[Larry Tew]

Don't you guys know gibberish when you see it?

 

[lhkorn99]

I don't see how this contradicts anything - suze is a proponent of term, and tells this woman its ok to borrow from your life insurance policy, she isn't advocating whole life in the video.

 

[Ami]

I don't see how this contradicts anything - suze is a proponent of term, and tells this woman its ok to borrow from your life insurance policy, she isn't advocating whole life in the video.

When a policyholder takes a loan from his/her life insurance company, and utilizing the CSV, it is important to recognize the fundamental basics: The borrowing is FROM the insurance company AGAINST the CSV of the policy. In other words, the borrowing is not from the policy itself but the policy's CSV is used as COLLATERAL against the amount borrowed. Incidentally, the borrower may use the CSV as collateral to borrow from the insurance company or from a bank, etc. The borrowing is from the financial institution and the policy's CSV is the collateral.

If you listen carefully to the referenced clip, you will notice that the consumer appears to know more than Suze. The consumer said "I'd like to borrow AGAINST ..." whereas Suze, incorrectly, said "take a loan FROM a life insurance policy". Policies don't give loans, lending institutions do.

 

[Larry Tew]

When a policyholder takes a loan from his/her life insurance company, and utilizing the CSV, it is important to recognize the fundamental basics: The borrowing is FROM the insurance company AGAINST the CSV of the policy. In other words, the borrowing is not from the policy itself but the policy's CSV is used as COLLATERAL against the amount borrowed. Incidentally, the borrower may use the CSV as collateral to borrow from the insurance company or from a bank, etc. The borrowing is from the financial institution and the policy's CSV is the collateral.

If you listen carefully to the referenced clip, you will notice that the consumer appears to know more than Suze. The consumer said "I'd like to borrow AGAINST ..." whereas Suze, incorrectly, said "take a loan FROM a life insurance policy". Policies don't give loans, lending institutions do.

You are exactly right, and even many of not most agents play loose with their words concerning policy loans, collateral capicity, who they're actually paying loan interest to, etc.