There are two reasons why Dave Ramsey is not always the best option for financial advice. First reason, he constantly tells people there is no benefit to holding CREDIT. That's just plain dumb in the face of many who have benefited from using credit to purchase Real-estate or start a business. My son in law is a Real-estate investor and is using credit with great results. Second reason, sometimes Mr Ramsey gets it completely wrong. His opinion concerning Whole Life Insurance is one of those times he got it wrong. Concerning life insurance, in the video above, Mr Ramsey advises a caller on his program not to use the Infinite Banking concept via whole life insurance. He claims the insurance agent which advised his caller of the Infinite Banking concept is not a financial advisor. I can just imagine Insurance agents who hold the series 6, 7 and 63 were probably baffled by his comment. Clearly Mr Ramsey is clueless about the benefits of Whole Life. Structured correctly, using non-direct recognition clause and a paid-up rider, a client can borrow from their OWN whole life policy, with their payments of principle & interest returning to increase THEIR POLICY. Essentially in time this stops the need to borrow from a bank to purchase high ticket items (home, car, boats, vacations, wedding ring, college tuition) The process is set up, so that you borrow from your own policy, and all payments will Pay Yourself Back! Not to mention interest payments will be much lower than anything a bank offers. Funding your own future loans while building an inheritance for your beneficiaries is a wonderful financial strategy. A savvy Insurance agent would add a grantor retained annuity trust that would give the principal to family members estate tax free. Moral of this story is that it's prudent to do your own research instead of relying on so-called experts. Hopefully the caller listened to his Insurance Agent, and not Mr Ramsey.