Who is a logical candidate for whole life insurance?

A logical candidate for whole life insurance would be someone who needs a moderate amount of death protection at predictable monthly or quarterly cost, and who is interested in amassing some amount of "savings" as well.

While whole life insurance should never be considered to be an investment, it does contain a savings element, called "cash value". A part of each premium is applied to the cost of providing the death benefit, and a part is applied to cash value. Cash value accumulates slowly at first, but as the policy matures, it grows more quickly. The accumulated cash value, or a part of it, can generally be borrowed at an interest rate that may be lower than market interest rates.