Be careful of sales pitches and the tax deferred benefits behind whole life insurance. This form combines life protection and savings at a fixed return. It’s an expensive form of both.
Whole life is not a true investment vehicle, despite the sales pitches. Were you to buy term insurance separately for protection and invest the difference in a secure, low=cost, income=based mutual fund, where dividends are reinvested, you would do far, far better.
Even these days when other secure investment options may appear to be hard to find, they are available.
If you refuse to receive your financial education from sales people.
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