The biggest advantage to whole life policies or annuities are the absolutely phenomenal amounts of money they make for the selling agent and the company. Costs that you can’t even see are baked in everywhere and you need a attorney who specializes in these policies to even read the contract.
As mentioned by others if you are near retirement age you should be fully self insured as a Delta pilot. In addition if you have a PBGC benefit you have not started drawing you have an excellent free insurance product.
The company provided insurance is also not that expensive. Strangely some pilots think the imputed income number is the actual amount you pay in taxes.