Is Whole Life Insurance a smart investment to diversify?

[Brian Nordman]

Alright, so I've done some research into Whole Life Insurance and I think it has some awesome benefits. In my research though it seems to be pretty equal between the people who strongly advise against it and for it. One thing I like about it as that after you've built up some cash value in the policy you can take out a loan on the cash value at rates generally lower than the banks. I'm just curious how many of you out there have thoughts on this type of investment vehicle and whether anyone has good or bad experiences associated with it?