When you need to buy life insurance and you also want to build up an investment portfolio, whole life insurance may be the answer for you. It can be expensive, so you need to take a little time to find a low cost whole life insurance rate quote. Here's how ...What is Whole Life Insurance? A whole life policy combines life insurance and an investment account, making it a useful part of your long-term investment goals. Part of your premium pays for the insurance, while the remainder is invested in a mutual fund, bonds, or whatever investment option you select