Can Whole Life Insurance Be Used For Retirement? 
That is a great question ! I believe that life insurance is a must , and while it can be used as part of a retirement plan , I 'm not real big on advising so . Here 's why - The general purpose for a life insurance policy is so that you can transfer wealth , and pay final expenses . Your beneficiary receives the tax free benefits , and your final expenses are not passed onto them . If your main goal is to gut your policy and live off the cash value in it , that defeats the purpose of the wealth transfer . If the idea is to garnish tax free income in retirement , a Roth IRA would be a far better investment vehicle , and its balance can be left to a beneficiary . A smarter way to use your money , though lesser commission for an agent . I hope that helps , thanks for asking ! 