Can Whole Life Insurance Be Used For Retirement? 
Cash value life insurance products are frequently used as a retirement planning vehicle . Most nonqualified retirement plans , from the largest to the smallest companies in America , use life insurance to informally fund the retirement payments companies make to their retiring executives . So , it would stand to reason that what works for those arrangements can work for individuals , too ! With the right products , an experienced life insurance professional can design a supplemental retirement plan using life insurance to provide income in retirement , tax free -LRB- through policy loans -RRB- . Whole life is not always the best choice in terms of efficiency and flexibility . Universal life based products are better , in my experience . 