BetterWealth with Caleb Guilliams How to Pay Off Serious Debt with Whole Life Insurance | Denzel Rodriguez
Jan 16, 2026
Denzel Rodriguez, an insurance advisor and content creator, shares his expertise on leveraging whole life insurance to tackle serious debt. He presents a compelling case study of a 22-year-old woman who paid off $140,000 in student loans. Denzel outlines the critical rules for borrowing against policies, the pros and cons of using whole life for debt repayment, and cautions against using it for loans eligible for forgiveness. Listeners will gain insights into effective strategies for managing high-interest debt while maximizing cash value.
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Build Savings Before Buying Whole Life
- Do establish saving habits and initial capital before buying a whole life policy.
- Aim to show consistent monthly savings and have at least ~$10,000 or one year of premium available.
Rules For Borrowing Against Cash Value
- Do max-fund the policy first and keep its growth the priority even if you borrow.
- Pay policy loan interest out-of-pocket and avoid borrowing more than two-thirds of cash value.
Use Term First For Toxic Revolving Debt
- Avoid starting permanent life insurance to pay off very high-interest revolving debt; pay that off first.
- Instead, get convertible term for coverage and use freed cash flow to attack credit card debt.
