Whole life insurance can be one way to invest a tax refund

Now that most people have filed their returns, it's only natural to start thinking of ways to invest one's refund, from extravagant purchases to investments in things like whole life insurance.

According to the IRS, the average tax refund in 2009 was just over $2,700. However, the ongoing recession has made many Americans more cautious than ever about their expenditures. For example, an Associated Press poll released earlier this week found that 31 percent of consumers are planning to use their refunds to pay down credit card debt, almost double the 17 percent who had planned to do so in 2008.

The AP poll found that even among taxpayers who were planning to spend at least part of their refund, 17 percent were planning to focus on essential items like clothing and food. Last year, only 7 percent were planning to do that.

For those who are not struggling with credit card debt or cash flow problems, a good investment could be a whole life insurance policy, which can provide a lifetime of financial benefits.

For more information on protecting your family with a life insurance policy, visit InsureMe.com today.