What Is The Purpose Of Whole Life Insurance? 
what is the purpose of whole life insurance ? Whole life insurance has many purposes for many people . They do n't even have to have the same needs . I can speak as to why I own whole life , I own Whole life because I wanted my life insurance to be inforce when I die . I wanted a safety net for my other investment activities . I wanted control of my policy . I wanted something that will not go backward , once the money is there , it is there . I wanted not to have to buy life insurance later in life as the price no matter what type of policy goes higher . I wanted something that would not end , until I do . Those are just a few of the purposes behind my decision 25 years ago to buy whole life , and I forgot to mention I wanted a locked in premium . 