A whole life insurance policy can be a good investment for some people.
Life insurance creates
cash upon the death of the insured person, and whole life insurance is designed to be "In Force" your entire lifetime, until you die, not if
you die within a specified term or period of time.
From an estate planning point of view, that is
a good thing, since it is guaranteed your beneficiary will receive the death benefit from your whole life insurance policy.
If
you need life insurance coverage, then the tax advantaged growth of a participating
whole life insurance policy can be attractive from a wealth accumulation point of view.
The funds can be used to supplement retirement income, and the death benefit can help to supplement the income of your spouse, or family members.
