Isnt it true that Whole life Insurance generates maximum profits for Insurance Co's and its agent?

I mean why is it being tauted as much better than term insurance? It seems that my money through higher premiums are going into the pockets of the Life insurance companies!

I am yet to see a convincing argument to buy whole insurance.

Hey Taxguru, lets hear your esteemed opinion on this subject? I guess you are waiting to hear other peoples opinion!