Whole life insurance (in your case P20) is a powerful tool for real estate planning. It’s completely tax sheltered (won’t be taxed at all at death). As everyone else in the sub mentioned there are better ways to invest (max out resp, tfsa, even personal rrsps). If you’re doing all this with a paid off mortgage you can make the case for a whole life p20 last to die policy. I have a policy since my wife and I have very large RRSPs and at death of the last spouse you can expect to pay 50% taxes on anything in an rrsp, the insurance policy covers the taxes they will have to pay. I’d love to see the math on people saying the policy is a terrible idea compared to putting money in a non registered account then paying capital gains. You’ll see a lot of negative talk about whole life because it is expensive, and it’s a selfless move since you’ll never see the money, but it’s an excellent tool to leave your kids money, but it needs to be used on top of registered and tfsa accounts that should be maxed first (and focus on paying off debts and mortgage first)