11 Reason's to Consider Whole Life for Retirement Vehicle

Continuing on my Infinite Banking theme as of late, I wanted to give a more complete benefits list why to choose a Participating Whole Life policy rather that the meager 401k or mutual fund.  The benefits seem to keep adding up as 401k's are going the route of the dinosaur.

1.  It builds liquid cash reserve of safe money.  Generally, it can be accessed within 5-10 business days.
2.  Cash Value Life Insurance guarantees your investment principle.
3.  You can put as much money as you want -- limited only by the size of the whole life policy -- which you can make as large as you need.  Not so with qualified plans.
4.  All of the money you put into the cash value life insurance policy builds tax deferred.  You avoid paying income taxes every year, so your money grows faster.
5.  You can borrow the money from the policy tax free, without having to qualify for the loan and without contractual withdrawal penalties.
6.  There are no early withdrawal penalties from the federal government.  Not so with qualified plans or annuities.
7.  Loans against the policy come from the general assets of the insurance company, and not from the policy cash value!  In many cases, you can actually earn more on your money than the loan is costing you.
8.  The policy is self-completing, because you have a disability waiver of premium rider that will continue to put the money in for you if you ever become disabled.  Only life insurance offers this unique benefit.
9.  Life insurance provides a death benefit that gives your family the money you intended to save in the event you can't be there.
10.  In most states, life insurance is not attachable by creditors.
11.  Life insurance cash values don't count as an asset when applying for college financial aid.