I took a personal finance class at BYU last semester and the teacher and several guest speakers (all millionaires or very well off) said that whole life is overrated and that it is the most widely used scam in Utah County.

The teacher was on Wall Street for 15-20 years as an investment banker and has never bought WL. The guy is well off, and his opinion is independent of insurance salesmen bias. I'm not buying it.

PS, he also emphasised diversification and . . . mutual funds for retirement. Guess he's dead wrong, Old Y?