<prompt> Human: My wife and I were introduced to an insurance salesman a few years ago who helped set us up with a level term life insurance policy. At the time he talked to us about whole life insurance, but we didnt have the cash to spend on that at the time. Fast forward to now and hes doing his yearly check with us and is really pushing for us to convert our current 20 year level term to whole life insurance. Ive read some positives and negatives about it, but Id be interested to hear PFs opinion on it.Currently we pay about 35 USD a month for our term policy 500k. The whole life policy thats being proposed would cost roughly 550-600 a month with the same death benefit. It has a guaranteed 4 return rate with an average of 6. It seems like a lot of money per month to spend on insurance and a smallish return. Would I be better off taking a similar amount of money and going with a mutual fund or ETF? Any insight anyone can give on this would be greatly appreciated.  <response>: Currently we pay about 35 USD a month for our term policy 500k.Sounds like a pretty good deal. Keep that. 