The sale of a small whole life policy to me by a very close friend interning with NML when I was a medical student led to my financial awakening and eventually the origin of The White Coat Investor blog. I only lost a few hundred dollars on that ill-advised purchase but I'm sure that particular sale has cost the company many millions over the last 15 years.
This article has been a long time coming. My interaction with the reporter started last April. I'm pleased it turned out so well. She really put a lot of work into it especially speaking with so many former employees. I know there are only two words attributed to me in it, but I answered a dozen questions and referred her to numerous articles I've written on the topic and provided links to dozens of forum posts from people who have purchased WL policies from NML. I did ask to avoid being directly quoted about the company to avoid legal hassles. I have been told by ex-employees that my blog posts are used for training at the company to help them counter arguments against whole life.
I'm skeptical the article will change the culture at the company though, which is the real problem IMHO. I actually don't have nearly as much of a problem with whole life as I do with the way it is sold.
This article has been a long time coming. My interaction with the reporter started last April. I'm pleased it turned out so well. She really put a lot of work into it especially speaking with so many former employees. I know there are only two words attributed to me in it, but I answered a dozen questions and referred her to numerous articles I've written on the topic and provided links to dozens of forum posts from people who have purchased WL policies from NML. I did ask to avoid being directly quoted about the company to avoid legal hassles. I have been told by ex-employees that my blog posts are used for training at the company to help them counter arguments against whole life.
I'm skeptical the article will change the culture at the company though, which is the real problem IMHO. I actually don't have nearly as much of a problem with whole life as I do with the way it is sold.
Statistics: Posted by White Coat Investor — Tue Nov 25, 2025 1:14 am — Replies 21 — Views 1830