Why Whole Life?

I read this on a message board yesterday and thought it was interesting:

Whole Life is a product that:

1) Uses a dollar to do two jobs
2) Is safe, secure and grows income tax deferred
3) Accumulates cash for emergencies or opportunities
4) Can provide a retirement income that increases as you get older
5) Is not restricted by your earnings and is accessible before 59 ½ without penalty
6) Provides a leveraged, income tax free benefit to your beneficiary at death
7) Deposits continue to be made into your account in the event of a long term disability

What do you think?