Whole life insurance is not a legitimate investment and is generally a poor financial product for most people.

“Listen up. Whole life insurance is not an investment. In fact, insurance is not an investment. Insurance is insurance. And whole life insurance is a scam to fill the grubby little pockets of these insurance salespeople.”

The purchase of a whole life insurance policy was an emotional reaction to a death in the family rather than a calculated financial decision.

“But that was the time that his dad passed away. And that like that's like the first death that I've experienced and he's experienced that's close to us. And so we decided to get a life insurance cuz it scared us both.”

The speaker considers their whole life insurance policy a waste of money that should be abandoned.

“It's a waste of money. We were fooled by it. Somebody sold it to us and um we didn't know better then, but we know better now.”