Yes, whole life insurance will not end up being for everybody. As said before the most important issues are the amount, time frame, and its within budget.
The "buy term and invest the difference" works for some, but in a changing economy like now, this one size fits all approach does not work (despite what dave ramsey says- market gains of 12%+
It does not take into account insurability, taxes, income, creditor/lawsuit protection, etc...
If people think they can just retire on a 401k, ira, and savings, then they live in fantasy world. I have my plans through NY Life and they actually showed a mathmatical and financial breakdown (done and supported by Ibbotson and Morningstar) of all my options and whole life was the best for my overall portfolio. Just my 2 cents