Why Would You Buy Whole Life Insurance? 
Participatingwhole life insurance is the most expensive way to pay for life insurance coverage . Guaranteed universal life issignificantlycheaper . So do n't buy it for indemnification . However , participatingwhole life can be a conservative , long term savings vehicle for supplementalretirement which may generate taxadvantagedwithdrawalsof basis and policy loans of gain as long as the contract is kept in force for the life of the insured . If you could buy it for retirement income purposes , if you fit the profile `` conservative , long termsaver . '' 