I bought whole life insurance for permanent life protection. The issue was do I know when I am going to die? Of course not, so I needed life insurance, and I wanted to be permanently protected, so I naturally went for whole life.

I know a lot of people who got caught with the A L Williams method of approach, ie buy Term Insurance and invest the difference in Mutual Funds etc. But, most people do not have the discipline to follow through with maintaining consistent investment plans.

So, in my case, I bought whole life about 10 years ago, and invested the funds in aggressive portfolio, the result is a very nice build up of cash value in my life insurance policy!

The Cash value is also very important as it can be used to fund the policy as well.