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 [...]

I was listening to a personal finance podcast the other day, and the question was raised again about what kind of life insurance someone should buy.  The host went on for the next couple of minutes talking about how everyone should “buy term and invest the difference.”  Now I’m a fair person, and I admit [...]

The economics of life insurance relate to human life value, which in turn pertains to human capital. Human capital is a person’s income potential over their lifetime as well as additional factors such as fringe benefits, monthly expenses, and savings growth rate. The human life value concept is the primary reason for insurance and the [...]

It’s a new year, and that’s the time when many people make resolutions to change their lives for the better in the coming months.  Many of the changes you might be considering can also be ways to save money on your life insurance.  Of course, there are the usual ways that most people would think [...]