Why Do Suzie Orman and Dave Ramsey Trash WL So Much?

I give to charity now and will continue to do so. Aside from that, what I earn is my money. I'd much rather help my son out while he's alive - get him off the ground, maybe help him start his own business.
 
I give to charity now and will continue to do so. Aside from that, what I earn is my money. I'd much rather help my son out while he's alive - get him off the ground, maybe help him start his own business.

If you know you will not care about leaving a legacy after you pass on, you should not buy permanent insurance. Kudos to you helping your kid out now - I hope to do so when I have a child.
 
I am a Dave Ramsey listener and enjoy his show. I think he's a great communicator. I sell a LOT of his listeners. I sell them term, whole-life, long-term care, etc.

It's very simple how I do it. You agree with everything he says as a workable plan.

My database has two checkboxes 1. Suzi Orman Fan 2. Dave Ramsey fan.

When those boxes are checked I market term life, long-term care (after age 60), HSA health plans and anything else they hear recommended on the show.

If Dave does a big speech on everyone over age 60 needs to have LTC insurance on today's show, I can pull all my Dave fans over age 60 that don't own LTC out of my database in 10-seconds and have a mailer in their mailbox tomorrow.

It's also very easy to sell Dave fans whole-life or GUL which he says are a waste of money. You just agree with him IF they are following Dave's plan.

Here is an actual conversation I had this week. The client was a divorced lady age 51, slightly overweight and good but not preferred health, lower middle-class income. She wanted insurance mainly to cover funeral and final expenses, kids are adults:

Client: I listen to Dave Ramsey and he says to only buy term life insurance. I don't totally understand why or what other kind there is.

Me: Great! I like to listen to Dave too. He is very good about reminding people to live within their means and not running up debt. That's important for everyone.

His insurance information is sound also provided that you are going to fully follow Dave's complete plan and NOT pick bits and pieces of it.

Client: What do you mean?

Me: Well, you have a choice of term life insurance like Dave recommends or permanent whole-life insurance. The term insurance is MUCH less expensive which is why Dave recommends it. Whole-life is very affordable in smaller amounts but probably 5 to 10 times more than term if you are comparing the same death benefit.

Client: So why would anyone buy whole-life?

Me: Because it's permanent. It will always be the same premium amount. The term will last 20 or 30 years or for whatever term you need it but then it will end or the rate will be so high no one would keep it.

Client: Why does Dave say EVERYBODY should by term? What if you live past the insurance coverage?

Me: It won't matter because if you're following Dave's complete plan you will be filthy rich anyway.

Client: How can he guarantee that?

Me: Dave's plan makes perfect sense IF you are going to get gazelle intense with it. You have to do all these things for it to work OR you will expose yourself to problems.
1. Cut everything you can out of your spending.
2. Increase your income by asking for raises or finding a new employer that will pay you more. Take on extra jobs like delivering pizza at night.
3. Never eat out. Take your lunch to work. Eat lots of rice and beans and beans and rice.
4. Pay off all debts from the smallest balance to the largest. This is called debt snowballing. Get completely out of debt.
5. If you have a car payment, sell your car. Even if you are upside down in a payment sell it for what you can and refinance the balance and pay it off in your debt snowball. Buy a $1,500 "beater" car to drive until you are completely out of debt.
6. You need to make sure you have good health insurance in place (preferably an HSA) and long-term disability coverage.
7. You need an emergency fund that is liquid and has at least $1,000 in it. Once you are out of debt you want to build 6-months of expenses in it.
8. Once you are completely out of debt you stay on course and sock all that extra money into retirement accounts. You can upgrade your car to around $3,000 at this point if you pay cash for it.
9. Once you are rich enough, you can cancel your term life insurance and when you retire you cancel your disability and get LTC.
Now you can live like no one else because you have lived like no one else.

Client: Hmmmmmmm. I don't think I'm ever going to be rich. How much is the whole-life insurance?

Me: $40.32 for $25,000 of whole-life coverage.

Client: GIVE ME THAT!!! That Dave Ramsey is full of crap! I'm not driving a beater car and delivering pizzas all night just to save forty dollars a MONTH! He's NUTS! Why would I want term life insurance? I'm not paying for something and then worrying that I might LIVE TOO LONG. Give me that $40 plan. I need to turn off the radio.


Agreeing will get you much further than debating or argrueing.
 
I am a Dave Ramsey listener and enjoy his show. I think he's a great communicator. I sell a LOT of his listeners. I sell them term, whole-life, long-term care, etc.

It's very simple how I do it. You agree with everything he says as a workable plan.

.....

Agreeing will get you much further than debating or argrueing.

That has to be the single best plan I have ever heard to deal with a Ramsey fan. And a great way to sell whole life. No discussion on cash value, etc. Just the pure basics, its permanent. How many Ramsey fans buy WL after this explanation?
 
That has to be the single best plan I have ever heard to deal with a Ramsey fan. And a great way to sell whole life. No discussion on cash value, etc. Just the pure basics, its permanent. How many Ramsey fans buy WL after this explanation?

Almost all of them that are just wanting small amounts ($10,000 to $50,000)

If they are young I sell them the large convertable term policies.

If they are older but want larger policies I recommend term or GUL although I mainly run into the $10,000 to $50,000 crowd.

I can promise you, when you hit on the things you have to do to follow Ramsey's plan, NO one wants to do that. It's good advice for young people to follow. It's impossible for 50+ year olds who are major in debt to see themselves ending up wealthy by retirement. They know they won't do what it takes.
 
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I am a Dave Ramsey listener and enjoy his show. I think he's a great communicator. I sell a LOT of his listeners. I sell them term, whole-life, long-term care, etc.

It's very simple how I do it. You agree with everything he says as a workable plan.

My database has two checkboxes 1. Suzi Orman Fan 2. Dave Ramsey fan.

When those boxes are checked I market term life, long-term care (after age 60), HSA health plans and anything else they hear recommended on the show.

If Dave does a big speech on everyone over age 60 needs to have LTC insurance on today's show, I can pull all my Dave fans over age 60 that don't own LTC out of my database in 10-seconds and have a mailer in their mailbox tomorrow.

It's also very easy to sell Dave fans whole-life or GUL which he says are a waste of money. You just agree with him IF they are following Dave's plan.

Here is an actual conversation I had this week. The client was a divorced lady age 51, slightly overweight and good but not preferred health, lower middle-class income. She wanted insurance mainly to cover funeral and final expenses, kids are adults:

Client: I listen to Dave Ramsey and he says to only buy term life insurance. I don't totally understand why or what other kind there is.

Me: Great! I like to listen to Dave too. He is very good about reminding people to live within their means and not running up debt. That's important for everyone.

His insurance information is sound also provided that you are going to fully follow Dave's complete plan and NOT pick bits and pieces of it.

Client: What do you mean?

Me: Well, you have a choice of term life insurance like Dave recommends or permanent whole-life insurance. The term insurance is MUCH less expensive which is why Dave recommends it. Whole-life is very affordable in smaller amounts but probably 5 to 10 times more than term if you are comparing the same death benefit.

Client: So why would anyone buy whole-life?

Me: Because it's permanent. It will always be the same premium amount. The term will last 20 or 30 years or for whatever term you need it but then it will end or the rate will be so high no one would keep it.

Client: Why does Dave say EVERYBODY should by term? What if you live past the insurance coverage?

Me: It won't matter because if you're following Dave's complete plan you will be filthy rich anyway.

Client: How can he guarantee that?

Me: Dave's plan makes perfect sense IF you are going to get gazelle intense with it. You have to do all these things for it to work OR you will expose yourself to problems.
1. Cut everything you can out of your spending.
2. Increase your income by asking for raises or finding a new employer that will pay you more. Take on extra jobs like delivering pizza at night.
3. Never eat out. Take your lunch to work. Eat lots of rice and beans and beans and rice.
4. Pay off all debts from the smallest balance to the largest. This is called debt snowballing. Get completely out of debt.
5. If you have a car payment, sell your car. Even if you are upside down in a payment sell it for what you can and refinance the balance and pay it off in your debt snowball. Buy a $1,500 "beater" car to drive until you are completely out of debt.
6. You need to make sure you have good health insurance in place (preferably an HSA) and long-term disability coverage.
7. You need an emergency fund that is liquid and has at least $1,000 in it. Once you are out of debt you want to build 6-months of expenses in it.
8. Once you are completely out of debt you stay on course and sock all that extra money into retirement accounts. You can upgrade your car to around $3,000 at this point if you pay cash for it.
9. Once you are rich enough, you can cancel your term life insurance and when you retire you cancel your disability and get LTC.
Now you can live like no one else because you have lived like no one else.

Client: Hmmmmmmm. I don't think I'm ever going to be rich. How much is the whole-life insurance?

Me: $40.32 for $25,000 of whole-life coverage.

Client: GIVE ME THAT!!! That Dave Ramsey is full of crap! I'm not driving a beater car and delivering pizzas all night just to save forty dollars a MONTH! He's NUTS! Why would I want term life insurance? I'm not paying for something and then worrying that I might LIVE TOO LONG. Give me that $40 plan. I need to turn off the radio. Agreeing will get you much further than debating or argrueing.

Scott Burke you are one smart cookie!!!! :yes:
 
I am a Dave Ramsey listener and enjoy his show. I think he's a great communicator. I sell a LOT of his listeners. I sell them term, whole-life, long-term care, etc.

It's very simple how I do it. You agree with everything he says as a workable plan.

My database has two checkboxes 1. Suzi Orman Fan 2. Dave Ramsey fan.

When those boxes are checked I market term life, long-term care (after age 60), HSA health plans and anything else they hear recommended on the show.

If Dave does a big speech on everyone over age 60 needs to have LTC insurance on today's show, I can pull all my Dave fans over age 60 that don't own LTC out of my database in 10-seconds and have a mailer in their mailbox tomorrow.

It's also very easy to sell Dave fans whole-life or GUL which he says are a waste of money. You just agree with him IF they are following Dave's plan.

Here is an actual conversation I had this week. The client was a divorced lady age 51, slightly overweight and good but not preferred health, lower middle-class income. She wanted insurance mainly to cover funeral and final expenses, kids are adults:

Client: I listen to Dave Ramsey and he says to only buy term life insurance. I don't totally understand why or what other kind there is.

Me: Great! I like to listen to Dave too. He is very good about reminding people to live within their means and not running up debt. That's important for everyone.

His insurance information is sound also provided that you are going to fully follow Dave's complete plan and NOT pick bits and pieces of it.

Client: What do you mean?

Me: Well, you have a choice of term life insurance like Dave recommends or permanent whole-life insurance. The term insurance is MUCH less expensive which is why Dave recommends it. Whole-life is very affordable in smaller amounts but probably 5 to 10 times more than term if you are comparing the same death benefit.

Client: So why would anyone buy whole-life?

Me: Because it's permanent. It will always be the same premium amount. The term will last 20 or 30 years or for whatever term you need it but then it will end or the rate will be so high no one would keep it.

Client: Why does Dave say EVERYBODY should by term? What if you live past the insurance coverage?

Me: It won't matter because if you're following Dave's complete plan you will be filthy rich anyway.

Client: How can he guarantee that?

Me: Dave's plan makes perfect sense IF you are going to get gazelle intense with it. You have to do all these things for it to work OR you will expose yourself to problems.
1. Cut everything you can out of your spending.
2. Increase your income by asking for raises or finding a new employer that will pay you more. Take on extra jobs like delivering pizza at night.
3. Never eat out. Take your lunch to work. Eat lots of rice and beans and beans and rice.
4. Pay off all debts from the smallest balance to the largest. This is called debt snowballing. Get completely out of debt.
5. If you have a car payment, sell your car. Even if you are upside down in a payment sell it for what you can and refinance the balance and pay it off in your debt snowball. Buy a $1,500 "beater" car to drive until you are completely out of debt.
6. You need to make sure you have good health insurance in place (preferably an HSA) and long-term disability coverage.
7. You need an emergency fund that is liquid and has at least $1,000 in it. Once you are out of debt you want to build 6-months of expenses in it.
8. Once you are completely out of debt you stay on course and sock all that extra money into retirement accounts. You can upgrade your car to around $3,000 at this point if you pay cash for it.
9. Once you are rich enough, you can cancel your term life insurance and when you retire you cancel your disability and get LTC.
Now you can live like no one else because you have lived like no one else.

Client: Hmmmmmmm. I don't think I'm ever going to be rich. How much is the whole-life insurance?

Me: $40.32 for $25,000 of whole-life coverage.

Client: GIVE ME THAT!!! That Dave Ramsey is full of crap! I'm not driving a beater car and delivering pizzas all night just to save forty dollars a MONTH! He's NUTS! Why would I want term life insurance? I'm not paying for something and then worrying that I might LIVE TOO LONG. Give me that $40 plan. I need to turn off the radio.


Agreeing will get you much further than debating or argrueing.

I've been on this board for four years now (and was on the one before it just before it went paws-up.)

I've read a lot of posts in the Life section of this venue.

This is easily the best and most useful "thing" I've ever seen posted here in all these years.
 
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