When Is It A Good Idea To Buy Whole Life Insurance? 
The only time a person should even think about buying a whole life insurance policy is if he or she did n't save enough money for final expenses or did n't plan for their inevitable funeral . Level term protection is good for most everybody at any age because of it 's affordability and if the person is still healthy then they can get a policy that would take care of their final expenses which would only be $ 10,000 - $ 15,000 . If they are not healthy then a graded death benefit term or whole life may be the answer . The bottom line is that a person that has worked and saved his life and paid off his debt by retirement or shortly after should be self-insured . 