1. 21750 POINTS
    Jim Winkler
    CEO/Owner, Winkler Financial Group, Houston, Texas
    That is an excellent question! I guess it really comes down to what you want it for, to determine if you really need it. If you are only looking to cover a short term debt, like college, or a mortgage, then no, you really don't need a whole life policy. If you want to ensure that you have coverage for as long as you live, with no chance of leaving your family stranded, then yes, you do. I hope that helps, thanks for asking!
    Answered on August 22, 2014
  2. 37376 POINTS
    David G. Pipes, CLU®, RICP®
    Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
    A whole life policy provides a level death benefit for the lifetime of the insured.  The owner need only pay the guaranteed premium.  If you need a level death benefit, one that will allow those you love to live their lives with dignity after your passing, and you do not anticipate that need reducing in the future, then a whole life policy was designed for you.  Many people I meet would like to buy insurance but they are now too old and unable to qualify for coverage.  If you think you will need it, buy it now.
    Answered on August 22, 2014
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