<prompt> Human: Northwestern Mutual is trying to sell me whole life insurance, how do I assess whether or not its right for me?What variables should I consider when picking a life insurance policy, or deciding if I even need one at this point in my life?Im 29, own a house, am not married but in a relationship, and have no kids.Any help would be greatly appreciated.  <response>: Its not right.The purpose of insurance is to provide your family with income that was lost due to your demise. If you have no dependents you do not need life insurance.Investing through an insurance policy is expensive, regardless of the tax sheltering effect they claim. Net of expenses, fees and commissions you are going to be better off investing in stocks and bonds.The insurance agencies will also claim it is safer than other investments. An insurance annuity or other insurance based investment vehicle is essentially a bond or stock held with a single company. This is inherently more risky than investing in a broad market bond or stock index fund. 