When Is It A Good Idea To Buy Whole Life Insurance? 
When is not necessarily the best question to ask as to why to buy whole life insurance . If you know why you are purchasing insurance , that will help to determine your when . Most whole life policies pay out very little in dividends so I would look at other vehicles if you want dividends . Also , life insurance isa tax free vehicle when it pays out so consider that when you are looking at life insurance . To get to the root of the answer , most people purchase Whole Life policies as final expense policies because there is n't much of a reason to purchase Whole Life policies otherwise . The interest rate is dismal , dividends are not worth mentioning . The cost of a whole life policy can be affordable as to building up the savings or investment vehicle versus on your own . So , I would not purchase a whole life policy prior to age 50 . 