Life Insurance Debate

by mcollins

Category: Blog


Who remembers Ned Ryerson? Needle Nose Ned?

Ned Ryerson was the Life Insurance Agent from the wildly popular film “Groundhog Day” starring Bill Murray. You may not remember Ned, but you certainly have heard of household names like Dave Ramsey & Suze Orman.

Ramsey & Orman are two of the biggest names in mainstream finance authorship and media. They both have built enormous brands around their personality and strong feelings on personal finance.

How do these two feel about the debate over Whole Life Insurance? Well, Dave refers to it frankly, as a load of “crap” while Suze names it as one of the few things she out right “hates.”

Why are there such strong feelings amongst the largest names in personal finance? Well, below we’ve included a list of their top objections to this product:

  • -Both believe varieties of whole-life are simply a bad investment.
  • -Ramsey repeatedly mentions┬áTerm Life as being on average, nearly 5%┬áthe cost of whole life.
  • -Ramsey refers to research claiming that the majority of Americans with whole life policies ‘cash out’ their policy before death.
  • -Although whole life is mentioned as being beneficial in covering estate taxes, Ramsey believes that the high overall cost of the policy far outweighs the estate tax concern.
  • -Opponents of whole life policies claim that the beneficiaries normally only receive the face amount of the policy and not any claimed cash value.

Take a peek at these great video segment’s from both Orman & Ramsey’s shows:

Dave Ramsey’s Heated Debate on Life Insurance

Susan Orman Slams Whole Life Insurance


Speaking with a professional is the best place to start in your search or to answer questions. Contact Podmaska Insurance Agency for a no-obligation insurance consultation.

Thank you!


The views expressed in this post or in the videos provided are not necessarily the views of Podmaska Insurance Agency.

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