my father explained to me that whole life insurance was the way to go. he explained that as i get older my life insurance will gain some cash value and would essentially be a investment. my brother is 27 and started a life insurance plan when he was 21 for $250,000. he said by the time hes 60 or 80 (cant remember), it will have gained a cash value of $1.1 million. i guess, then, i dont understand how whole life insurance is a waste of money. if its gaining cash value then you could essentially take out a loan from yourself. sounds like a good deal....