BeamaLife Blog

For the past few of weeks, I’ve been going through Dave Ramsey’s argument that everyone should buy term life insurance rather than permanent life insurance, which he called “one of the worst financial products available.”  Earlier, I compared that comment to someone in a hardware store saying “a screwdriver is one of the worst things [...]

So, you’ve made it to 50 years old, and your term life insurance coverage is ending, and the money you’ve been investing for the last 20 years is not worth nearly as much – in real dollars or in dollars adjusted for inflation – as the financial guru who sold you on this idea led [...]

It may come as a surprise to you, but I agree that the advice to “buy term and invest the difference” is a great prescription for a bright financial future.  I also think that “do unto others as you would have them do unto you” is a great prescription for a happy society. 
But the real [...]

Last time, I started picking apart Dave Ramsey’s article called “The Truth About Life Insurance.”  I covered Ramsey’s claim that “cash value life insurance is one of the worst financial products available.”  And now I want to talk about his next comment, namely that is “sad” that 70% of life insurance policies sold are cash [...]

It isn’t often that I get upset about things. But every time I hear someone quoting Dave Ramsey, I think about his ideas on life insurance.  And that makes me quite CONCERNED about the next generation American.  I am a fair person and admire his advice on credit and frugality, so I’m not going to [...]

The first law of insurance is to “insure first” that which you can least afford to loose;
1) Your Income
2) Your Health
3) Your Life
The only real security is that which you create for yourself and your family.

A few months ago, the word was spreading throughout the industry.  There were magazine articles, and nightly news reports sending out the story that term life insurance rates were on the rise, after more than 10 years of declines. 
But honestly, there’s very little historical information about the cost of life insurance.  It’s not like the [...]

One of the fastest growing segments of the population today is people who are more than 100 years old.  A recent article states that back in 1990 there were about 37,000 of them here in the U.S.  By 2008, the number had swelled to 84,000.  And estimates state that by 2040, there will be more [...]

A recent article in The Wall Street Journal advised readers to “beware rule changes on Coverdells.”  Coverdells Education Savings Account, in case you’re not familiar with them, are investments that offer tax-free growth and withdrawals, as long as the money is use for qualified educational expenses.  They were once known as education IRAs, and sometimes [...]

Your retirement years are supposed to be the best – a reward for all of the years of hard work and sacrifice that you’ve put in.  You should be spending your days the way that you want to – seeing friends, enjoying your grandchildren, doing all the traveling that you put off while raising a [...]