Whole Life Insurance Critics Aren’t Serious
December 18, 2019 by David Lewis
Norman Dacey. “Art” Williams. Suze Orman. Dave Ramsey.
What do they have in common?
Other than being famous and controversial figures, they also happen to be some of the fiercest critics of whole life insurance. What they promise to consumers is a comprehensive education on life insurance, but what they deliver instead is inauthentic sophomoric advice. Their ideas and criticisms aren’t serious.
If you raised an eyebrow after reading that last sentence, let’s consider the types of arguments these (and other) critics raise against whole life insurance.
Most arguments revolve around just a few key issues:
- Premiums for whole life insurance.
- Commissions paid to agents on whole life insurance.
- Rate of return on whole life insurance.
- The need for life insurance after retirement.