Does Whole Life Insurance Ever Make Sense? 
Definitely , despite what some misinformed advisers may tell you . Whole Life first of all was never designed as an investment . While it is true you can accumulate more cash by buying term and investing the difference , my experience has shown that in most cases the average person , no matter how well intentioned , fails to keep up with the investment part . Investments are taxable as well whereas Whole Life is very tax friendly . I have seen many people in their 70 's and 80 's lose their life savings because of the high cost of long term care . Without life insurance they would have had nothing to help pay for the final expenses , leaving their families in a financial bind . For some people the cash value in their life insurance is the only savings they really have . I always recommend at least enough whole life to pay final expenses , allowing for inflation . If purchased at a young age it is not that expensive . After forming your insurance foundation , then you can begin accumulating cash using a combination of term and investments . Whole life insurance provides an excellent safety net for the average individual . 