What does Dave Ramsey say about life insurance policies?
Dave Ramsey is a passionate advocate for term life insurance and fiercely opposes whole life, universal life, or any cash-value insurance products. He argues that whole life insurance policies are overpriced financial products that combine expensive permanent insurance with poor investment returns, famously coining the phrase to "buy term and invest the difference". Ramsey recommends purchasing a straightforward level-premium term life insurance policy—typically lasting 15 to 20 years with a death benefit worth 10 to 12 times your annual income—so that your family is fully protected during child-rearing years while you independently build long-term wealth through mutual funds.
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