Why Is Suze Orman Against Whole Life Insurance? 
Here is what Suze says about permanent insurance on her website : I HATE WHOLE LIFE INSURANCE I HATE UNIVERSAL LIFE INSURANCE I HATE VARIABLE LIFE INSURANCE THE ONLY TYPE I LIKE FOR THE PURPOSES FOR INSURING YOUR LIFE IS TERM INSURANCE ! If you are smart with the money you have today and you get rid of your mortgages , car loans and credit card debt and put money into retirement plans you dont need insurance 30 years from now to protect your family when you die . WEBSITELINK Lets think about this perspective for a second . She basically believes that family protection is the sole reason why people buy life insurance . Once the kids are out of the house , and you dont have any more debt , and you can afford to self-insure , you dont need a policy . This may be true for some people , but it is not true for many others . Consider some of the what ifs : What if your elder parents become dependent on you ? What if you need to secure a pension distribution ? What if you incur an estate tax obligation ? What if you want to leave a gift to your favorite charity ? What if you start a business when you retire as many people do and you need to indemnify a loan , or fund a partnership agreement ? These are all reasons for why people need life insurance after the family protection stage . They should be considered when people do their life insurance planning . 