Why Would You Buy Whole Life Insurance? 
Why would you buy whole life ? Here 's why I bought it . I wanted lifetime coverage as I do n't think I would die in 10,20 or 30 years . I was young enough to purchase a fair amount of coverage because I was in good health and purchased it at a locked in price . A price that they ca n't come back and raise on me . The WL offered reasonable safe growth , certainty that allowed me to take more risk with my other investment choices . My whole life became `` if I screw everything else up , this wo n't let me down . '' My safety net . After 20 plus years of ownership , whole life has done what it promised me , been there when I needed it and did n't go backwards in 2008 when ten years returns were wiped off my mutual fund accounts and my home value dropped 40 % . My boring steady unexciting whole life remained faithful to me . Now in my 50 's as a type II diabetic who just had his heart rebooted -LRB- cardioversion -RRB- because of A FIB , I really really appreciate the fact I `` OWN '' my policy . They ca n't raise the price , they ca n't end it . I did n't rent it , I OWN it . Maybe some readers will get how important that is . For all the financial gurus who may have said this was a bad idea , I have to ask why are so many people in their 60 's seeking new insurance ? Could it be they listened to the wrong people when they were younger and healthier ? There are a ton of reasons to own whole life , there is . All I can say is it is the most boring product you can buy . It will do what it 's supposed to , without fanfare or up and down excitement . It 's the most boring financial product you can `` OWN '' . I hope that makes sense to some who read these posts . 