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demosthenesss t1_iueh6cs wrote

It depends on why they want you to do it.

There are however few reasons the average person would benefit from it, so likely the answer is "yes" you should find a new advisor.

It also depends on whether she pushes back if you say "no."

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massalk OP t1_iueiqix wrote

She hasn't been pushy about anything at all thankfully. I told her I want to hold off on whole life for the time being and she said that was fine. What would be a reason that whole life would make sense for the average person? I haven't really invested much in anything (401ks included) and I'm 33. I make really good money travel nursing right now. To my understanding, whole life, along with everything else, was to kind of "catch me up" to have a good retirement.

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fuddykrueger t1_iugyici wrote

One example where whole life would make sense is if you’re relying heavily on your spouse’s pension for retirement and your income would decrease dramatically if your spouse passed away prematurely. If you have enough extra retirement monies saved though by the time you retire, then that would likely negate the need for whole life insurance.

Another example of the average person wanting whole life insurance would be if you have a dependent who is permanently disabled and who would always need to rely on you for caretaking and financial support.

Then there are very rich people who buy it to help their heirs pay estate taxes after they pass away.

Other than that, probably not necessary to buy whole life.

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