When To Buy Whole Life Insurance? 
This can vary depending on the need for the life insurance . In general , it 's better to buy it at a younger age than an older age as it will have more time for the cash value to grow . Since it 's a whole life policy , the premiums will remain guaranteed for life . Participating WL policies may have the option to use dividends to continuously reduce the premium over time and eventually become a self-sustaining policy with no future premium payments required -RRB- . The dividends can also be used to buy paid-up additions to increase the total death benefit . If you are only concerned about the death benefit and not the cash value , you may also want to consider a guaranteed universal life policy to maximize the death benefit while keeping the premiums to it 's lowest levels -LRB- this is generally more advantageous for older individuals -RRB- . Please feel free to contact me for assistance . Thanks very much . 