4 Instant Life Insurance Quotes

Such empty nothings in so learned a style, baffle the unlearned and make the learned smile.

This woman, (Suze Orman), is completely ignorant of the true benefits of whole life and certain types of universal life insurance. In her videos, she opens her mouth wide and inserts both feet.

Her puffed-up, whole life insurance trashing videos belittle these completely tax-free and risk-free financial vehicles. She assumes that selling life insurance is a ploy by state licensed life agent for the sole purpose of earning a commission.

Ms. Orman omits the fact that even though an agent does earn a commission for the sale of a policy, the insurance company doesn’t take money out of the policy owners money to pay the agent, unlike brokerage or mutual fund fees with which she’s so in love.

Instead of asking a few simple questions of the policy owners, who called for Ms. Orman’s trusted advice, in order to establish THEIR financial goals, she blindly trashed their in-force policies. In most states, an agent could lose their license for unsuitable and recklessness suggestions such as hers.

Instead of allowing the whole life policy cash values to compound completely tax-free and risk free, Ms. Orman instructs the policy owners to cash in their policies and speculate in the stock market. Cashing in a policy will not only trigger a taxable event, she’s suggesting they move money from a risk free account to fully at-risk account. Where’s the logic in that?

Good quality whole life policies, over the past 20 years, have yielded anywhere between 4% and 7% per year, tax-free, and risk-free. In the 1940’s and 50’s, before the wild speculation of the 1990’s stock market, these were the financial vehicles of choice because of their tremendous benefits.

Aside from providing a death benefit to a surviving spouse and children, or loved ones, (completely tax-free as well), the cash values can be borrowed out tax-free and can be used to fund college educational expenses, purchase vehicles, start businesses, AND can be paid back into the policy owners cash value thereby further compounding it’s growth.

These wonderful financial tools can be used as your own bank from which to borrow with no credit reports, no approval process, nothing. You simply tell the insurance company to send you a check. It’s your money. Why borrow from a lender when you can borrow from yourself?

And while your own money is borrowed out, the insurance company credits the cash value with interest, as if the borrowed funds were still in the policy.

Now on the subject of 529 college educational plans, Suzy failed to mention that the money in these types of accounts works against a student receiving need-based aid, grants, scholarship and preferred college loans.
Bad, bad advice!

I’ve yet to find a 529 account that has actually made a profit, as these are loaded with brokerage fees, and have all the risks of the stock market.

By accumulating funds in a cash value life insurance policy, such as the ones Suzy Orman trashes in her videos, a guaranteed lifetime income can be generated in a risk-free and completely tax-free manner.

In an uncertain world where the stock market can, and has wiped out account values short periods, and in a time when taxes are going through the roof, the suggestions by this woman are down right dangerous, on many levels.

Perhaps it’s time Ms. Orman get off the glitz and glamor of the public stage and get back into a class room to educate herself on the subject.

I’m not sure why, but many people put value to what Ms. Orman says simply because she has shoe-horned herself into a so called public financial person to which people should listen.

If she did a little research, she’d discover that anywhere between 25% and 40% of brokerage firm and banks profits are put into cash value life insurance policies. And if you want to know, the largest purchasers of unwanted life insurance policies are life insurance companies. They eat what they cook.

Nice going Suze!

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@obe231-in all due respect,you are incorrect.I have read them,and understand that you pay LESS over a lifetime with Perm Life than you would with BTID. Do the math and hit me up on private message.I challenge you to run proposals to see the premium price for a male age 30 with a 30 year term vs a Perm Life for 30 years. Perm is less expensive.
While your difference is in the market, please tell me how you guarantee the balance in 30yrs using MFs?Hit me up via YT message with your response.

If that’s true, why do the wealthy buy boatloads of cash value life insurance? Hmmmmmm….

Cash value life insurance are ripoffs. All you got to do is read them and you will see. Agents only support it b/c of the big commissions they get by selling it. People who understand how they works will never own them. Buy term and keep your savings/investments separate is the best financial advice to becoming wealthy.

In some cases Even Suze Strongly supports WL.

Ibcuser, Suze orman is slowly coming around. If you google:

“Suze orman answers your money questions”

She admits: “there are instances where whole life or so-called cash value polices make sense.

If you want to know which “instances” she refers to that “make sense”, see below.

Suze… why don’t you put your money where your mouth is? I read Pamela Yellen’s book “Bank on yourself” six months ago and you are challenged for $100,000 to prove that whole life insurance engineered properly is not the most efficient method to grow your money.
This challenge is open on the internet.
About this particular video, how can you dare to ask the caller to cancel his whole life policy after he has gone through the first 10- 12 years. This policies are going to shine from now on.

Even Suze Orman supports WL in some situations. Google the follwoing:

["suze orman" how to buy life insurance" Oprah]

She says, “Stick with term, with the exception of a few situations (supporting a special needs child or sibling, for estate tax purposes)”

I wonder, does Primerica teach the same thing?

Giving my comments the “thumbs down” only helps to support my argument (i.e. the truth).

Thanks again ; )

Apparently some on youtube would rather “try” and hide the truth than actually confront it.

Thanks for validating my argument ; )

The client 100 of the time and the client 100 of the time and try to keep it buried do whats right for the consumer.

” . . .then how are you doing what is right for the client 100% of the time? There is nothing wrong with being part of a pumped up and charged sales environment, I even enjoyed that part of it, but don’t be sooo excited that you can’t see how the rest of the financial world stacks up to PFS. For those who are all “gung ho” on PFS, simple take a look around you in objective honesty and if PFS in the best thing out there, then go for it. However, if you do discover something better . . .”