<prompt> Human: Any advice would be much appreciated. Some context: Im 24 years old and just got my first job making 65k. Also, Im approximately 40k in student debt, loans through the DOE at 6.8 interest. My question revolves around this. I recently met with a financial advisor from Northwestern Mutual. He wants to sell me life insurance. It would go something like this. I would purchase 1 million worth of term life insurance, 200k of which would go toward permanent life insurance. Over time, I would gradually commit more to the permanent life insurance plan. He states the advantage of permanent life insurance is that it is a tax free vehicle that can be withdrawn from before 59, a relatively safe investment comparable to t bills or other non-risky bonds, and has a guaranteed return of at least 4. He says that overall, he recommends it as a complement to a 401k and general savings plan, and says its potentially better than a typical savings account because of the much higher interest return the interest returns can be converted to cash value or knock the value off the principal payments.However, after speaking to a friend who is a wealth manager at UBS and both of my parents, they think buying life insurance at this point in my life is an awful idea. They say that I should focus on maximizing my 401k contributions and paying off my student debt as fast as possible, while still building up a decent rainy day fund. Any thoughts? FYI Im single and have no dependents. In general, the idea of a tax free insurance plan that acts like a savings account with 4 return sounds great but also too good to be true.Ive provided some links to articles that also suggest its not a good idea at my age. Any help would be much appreciated. Thanks in advance reddit.  <response>: Everything Ive read leads me to believe that whole life insurance is a scam. Just invest your money in a 401k or a Roth IRA, or a mutual fund package.If you have obligations like co-signed student loans that would need to be paid upon your death, or a family to provide for, you can carry term life insurance. 