Dave Ramsey
👤 SpeakerAppearances Over Time
Podcast Appearances
And you have two of them.
Like, they sold you all that stuff when you were young.
No, I want to make sure I understand what you've got.
Stop a second.
Do you have two $150,000 policies, and each of them have a $100,000 cash value in them?
Yes, if we were to surrender them now.
That's what I'm asking.
Okay, good.
Okay.
And so if you die, you know they keep the $100,000, right?
So you have $50,000 worth of insurance in essence.
Do you follow me?
Mm-hmm.
I don't understand it either, because it's the biggest screw drop of the middle class in my life that I've ever seen.
But it happens all the time.
So that's how a whole life policy works.
Okay, so you're covered if you die, right?
You don't need them.
Yeah, no.
What life insurance is for is to take care of her.