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.