What you are describing is known as a ‘whole life’ policy, and is not considered a good investment. A better track to follow would be to invest in a 401k at work or an IRA on your own for retirement, and buy ‘term life’ insurance instead. In other words, keep your investments separate from your insurance. It might be a good idea to talk to a financial adviser, they can assess your needs and help you decide what to do. If you do, be careful! There are lots of ‘advisers’ that are really just salesmen for one insurance/investment company.