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Nationwide Debt Direct Review – How Life Insurance Providers Are Screwing You Over! – Dave Ramsey Rant


Nationwide Debt Direct Review – How to Choose

Don’t waste money on cash value life insurance. Get a term life policy today:


In this video, Dave reads an article about universal life insurance and explains why it’s the “the worst of the worst” of financial products. Unlike term and whole life insurance, universal life insurance allows buyers to have flexible premium payments. But eventually, the cost increases and those buyers are faced with an unattractive choice: pay an extremely high premium or collapse the policy altogether.

Here’s how universal life insurance works:

A portion of your premium covers your insurance and a portion builds cash value as an investment. The insurance is based on an annual renewable term, meaning that the cost of your insurance increases as you get older because statistically speaking, your probably of death is higher when you age.

So let’s say you pay a $200 premium at age 35, with $50 of that covering your insurance and $150 going towards your cash value investment. By the time you’re 60, the cost of your insurance might be $250. You’re still only paying a $200 premium, so the extra $50 starts coming out of the savings you’ve been investing for years. Once your savings are gone, the insurance company comes knocking at your door, demanding you either pay a higher premium to cover the increasing cost of insurance or you won’t be covered anymore. Now you’re left with no savings and potentially no insurance.

In this scenario, you could have been paying a fraction of the cost for term life insurance and had separate investments that your life insurance company can never touch. Dave recommends getting 10-12 times your income in term life insurance and

If your insurance policy is building cash value, you’re getting screwed. Get term life insurance today:


Read more about the different types of life insurance:

Make sure you have enough insurance with the 5 Minute Coverage Checkup:

Life insurance is NOT an investment. Watch Dave explain:


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  1. derek flint
    July 23, 2021 at 6:51 am

    I teach financial planning classes and I agree with Dave. The ONLY life insurance I would recommend would be term insurance . Even then I would advise people to have no life insurance unless they have a dependent. The value of a persons estate is usually more than enough to cover the costs of a funeral.

  2. Kristie Hansen
    July 23, 2021 at 6:51 am

    I thought the older peoples policies are higher because their is less time to pay in to the policy, where a younger policy holder will make the company much more money that an older person.
    Do you think of your self as an honest man?

  3. Kristie Hansen
    July 23, 2021 at 6:51 am

    Can you tell me if life insurance policies on the whole are honouring their policies if the policy holder dies from one of the experimental injections that people are running to get?

  4. Chitown Rider
    July 23, 2021 at 6:51 am

    I got a accidental insurance from global life covers some cost of going to ER room. What do you think of that?

  5. Darlene Achille
    July 23, 2021 at 6:51 am

    Hello Brother Ramsey, is Zander the only insurance company you suggest?

    July 23, 2021 at 6:51 am

    Yes, Zander Insurance is a paid advertiser for Dave Ramsey. Dave come on.

  7. Amanda Thompson
    July 23, 2021 at 6:51 am

    Guys Dave Ramsey does not know what he is talking about when it comes to life insurance. I have a universal life policy on myself and I love it. Term insurance becomes very expensive as you get older and you drop the policy. Whole life and universal life are much better long term!

  8. Barry
    July 23, 2021 at 6:51 am

    Thrivant Financial sold me a Universal policy years ago that ate itself up by the time I was 60. Afterwards the salesman that sold it to us lived here his entire life decided to move away.

  9. Gene Benarick
    July 23, 2021 at 6:51 am

    Transamerica is a bunch of crooks, they won't pay the cash value of the policy I'm trying to terminate. Don't waste your money with Transamerica They are crooks.

  10. Thushan Mahendran
    July 23, 2021 at 6:51 am


  11. Stephen Scimone
    July 23, 2021 at 6:51 am

    5:33 is why i think universal life is worse than whole. UL is a ticking time bomb… at least whole life don't maroon you at a bad time. yes, whole life is a bad investment vehicle but has its uses. UL is the "answer" to someone who wants "permanent" life but doesn't want the high premiums.

  12. Joe Traveler
    July 23, 2021 at 6:51 am

    How about the National life insurance with living benefits with critical illness benefits? is it legit? they will pay you if you were diagnosed with cancer?

  13. Marcos
    July 23, 2021 at 6:51 am

    So you're telling us which ones are bad how about telling us which ones are good? So far-term looks peachy to me. thanks for the knowledge

  14. Dianne Louisy
    July 23, 2021 at 6:51 am

    Ridiculous!. Permanent policies have saved MANY of my clients during this pandemic. Universal Life is one type of permanent policy that I am not fond off and that many companies sell to clients without disclosing how improper funding can zero out the policy. So it's not the policy but agents who do not adequately educate. The wealthiest families have always used permanent Life Insurance as leverage and as part of their financial portfolio,

  15. Thai's list of blessings Burnette
    July 23, 2021 at 6:51 am

    Thats what i got Dave. Thanks for the info. Your the best. But ill stick to term

  16. Rebecca King
    July 23, 2021 at 6:51 am

    DAVE RAMSEY PLEASE WARN PEOPLE! I knew that I wasn't going to earn enough money this year to qualify for Obamacare so I assumed that my coverage would end at the end of 2020. However, Anthem enrolled me in a new plan without my consent and I just got a letter today showing that they stole almost $500 from my checking account to provide insurance coverage for ONE MONTH! If I had picked a plan myself I probably would have paid nothing due to my present income. I am sure this has happened to plenty of other people too, who can least afford it. I am sure many people like myself thought that their coverage would end if they didn't choose a plan. I can't believe they had the audacity to steal a month's wages from my checking account without my consent! I would appreciate it greatly if you would warn others about this. I am sure that I am not the only one who got cheated this way.

  17. David Wilkerson
    July 23, 2021 at 6:51 am

    Dave Ramsey is NOT a licensed life insurance agent. He does not know what he's talking about!

  18. Daniel B
    July 23, 2021 at 6:51 am

    Read Kim Butler "busting the life insurance lies". Whole life is a wonderful product and has been around for hundreds of years for a reason.

  19. Shyanne Wipp
    July 23, 2021 at 6:51 am

    I signed up for Combined Insurance in 2014. It was a big mistake. This was a guy who went to my church at that time and he was very mean to me. When I signed up with him all of a sudden he became very nice to me because he knows he's getting money from me. Two months later it all of a sudden turned out to be chaos. Him and his buddies started spreading rumors about me. This was in a church. If Jesus was there in physical form He would've drove out those people and said to them "You have made my church a den of thieves". Also I had to pay an extra $150 for the premium. Bad choices! Now I know how to be careful with my money.

  20. James Shannon
    July 23, 2021 at 6:51 am

    One aspect Dave hasn’t mentioned is the Cash value piece. The insurance is one piece. But it’s NOT THE POINT OF THE POLICY. You can get the minimum coverage(death benefit) and invest the rest… but he is right about it being complicated and easily poorly designed. Many people don’t understand it. And that’s how you get burned.

  21. Fury Fire07
    July 23, 2021 at 6:51 am

    What is the most affordable and beneficial permanent life insurance plans and coverage in NY?

  22. Paolo Martin Pascua
    July 23, 2021 at 6:51 am

    I think the alternative to offer term is a lot worse in the long run imo.
    Sure it’s cheaper at first, but if you outlive the term length then the premium increase is going to be too high for most people not to afford it. If they do manage to afford the renewal the structure of term may change, making it more expensive while making the renewal period smaller.
    It may go from Term30 to ART, or Term20 to Term5 to ART, etc.
    I suppose you have to pick the lesser evil in this case 🤷‍♂️

  23. A B
    July 23, 2021 at 6:51 am

    Don't take Hack Ramsey's advice.

  24. Jeffrey Fangon
    July 23, 2021 at 6:51 am

    How was the national life group with living benifits whole life? Any opinion mr Dave ?

  25. Baptiste Industries, LLC.
    July 23, 2021 at 6:51 am

    Hi Dave, how can I find my moms insurance policy company, with only her ss#?. Thank you!

  26. Sherif Abdel-Ghaffar
    July 23, 2021 at 6:51 am

    Don’t take David Ramsey’s word for it, as well as mine! Consult a professional who is knowledgeable with both Term and Universal Life. As well as do your own research!

    By research I mean, ask someone you know who may have had this for a very long time, how is it performing? Real life Case studies.

    This video is way too general and seems specific but it’s really not!

    FYI, Licensed professionals cannot actually bash any product. We are to educate the clients and let THEM decide, it’s unlawful to push any particular product on someone.

    To me it seems like he gets some kickback for someone signing up for term through his link in the description. 🤷🏻‍♂️

    MILLIONS of families are helped by Transamerica and Nationwide and he’s talking about a few lawsuits? Get out of here!
    People sue for anything these days.

    He also neglected to mention the tremendous tax advantages that Universal Life offers. Most people don’t know how to invest and have to pay taxes on that income every year and it never has a chance to grow.

    Please, consult an ACTUAL professional who is knowledgeable in all the products, do your own research and decide for yourself what’s best. You, your family and loved ones future depend on it! Yes, I am a licensed Life+Health Insurance agent.

    I wish you good luck on your search for the right product. 😊

    Books to read:
    The retirement miracle by Patrick Kelly
    The Power of Zero by David McKnight
    The Volatility Shield by David McKnight

  27. Aaron Peavler/Geomodelrailroader Railroad Photography
    July 23, 2021 at 6:51 am

    There are two types of Life Insurance Term and Cash Value. Term sets the amount and you withdraw it when you retire. Cash Value is a scam don't buy it, its expensive, and if you die and you are broke your decedents will be stuck with the bill. Don't buy Cash Value BUY TERM!

  28. 1212LeoSnake
    July 23, 2021 at 6:51 am

    Keep fighting for us as we continue to fight alongside man…thank you

  29. Sam Belley
    July 23, 2021 at 6:51 am

    The problem here is financial advisors/agents do not explain the products (IUL and UL) correctly and set people up at minimum payments, where policy lapses in 17-20 years. If you set a healthy target, these can be great for building cash value for retirement or other funding. Great for cashing out at when the ROI is best (usually age 75-80, when rates start to eat cash value)
    Also allows you to have insurance for your whole life a lot cheaper than actual Whole Life rates.