Did the broker happen to emphasize that he makes a commission in the neighborhood of 90% of the first year premiums and around 5% thereafter v. around 30 to 50% and 4% on a term product?
Take a good look at the numbers. In most cases the cash value remains lower than the premiums paid until somewhere around the 3rd or 4th year.
There are rare situations where variable products and 2nd to die policies are appropriate investments. But if you’re looking for vanilla insurance, buy insurance. If you’re looking for an investment, make an investment. Combining the two is good for the broker. Rarely for the insured.
