<prompt> Human: So I have a question for the financially smart here. I have contributed to a 401k since I turned 18 I recently turned 30. My employee contribution is 3 if you put in 10, which Im putting in 10 to get the match. I have an almost one year old and a 6 year old step-son. I was recently introduced to my bosss investor who is an employee of New York Life, and I wanted to talk to someone about term life insurance. He also talked to me about a whole life policy and made it seem like thats the way I need to go. It sounded way too good to be true, no tax penalty, if I die my significant other still gets money I did take out a term policy already 78 a month for a million dollars doesnt seem too bad given Im 90 of our household income. I want to know if Im missing something? He talked about a 500k whole life policy and itd cost me about 588 a month on top of the term policy. Should I be putting all my money into whole life or a mixture? I need some help figuring out whats best. Some background for clarity, Im 30 years old and I make 120k a year. I live in New Hampshire. Any help would be greatly appreciated. Im a novice  <response>: First hes getting a commission off of whole life, second whole life gives a very poor return and is usually only appropriate for ultra wealthy to shield their estate from taxes 