<prompt> Human: Boyfriend currently pays 200month for WL insurance. He is 23 and healthy. He was advised to decrease his 401K contribution to just employer match in order to pay for this. My parents heard about his policy and told him he should cancel it and invest in retirement and markets, but his advisor NY Life is telling him not to take advice from anyone who isnt licensed in financial services. Potentially important numbers you may ask about:Base Policy Face Amount: 208,831Premium Paying Period: 47 yearsPayments: 200monthAny insight would be much appreciated EDIT: Adding recent email he sent with reasons to keep the policy-A Whole life offers distributions that are tax free, 401k will be taxed 100 when you take distributions.-WL Cash Value can be accessed at any point, 401k you must wait until 59 12 to draw from wo penalty.-WL is guaranteed and not affected by the Market, 401k is dependent on funds performance based on the Market could be good or bad, it is unpredictable-WL is protected from creditors and does not show up as an asset, 401k is always considered an asset.-WL has a death benefit that will pay out when you die, 401k does not.-WL can be used for infinite financial needs throughout your life, 401k is only for retirement.-WL is a fixed income and will allow you to be more aggressive w your investments, if you so choose, think of it as your bond portion of your portfolio.-WL will supplement your investments in retirement in down trends of the Market, remember like we talked, take money out of the market when it is performing well. In poor market conditions use distributions from your WL and allow your market based investments to recover. There are plenty more reasons I can give you but I think you get the point. Again, I think you should have your 401k, and other market based investments in the future such as a Roth IRA and a Brokerage Account. We are just taking it one step at a time, I am taking a proactive approach with your plan to cover all potential unforeseen shortfalls, to make sure you have a plan for any and every scenario that could potentially occur. Please read the attachment and call me with questions. Keep me posted brother, talk to you soon.  <response>: Jesus. How the F do people get away with this?He can get a 1MM Level Term policy for 30 years for less than 1000 a year.The advisor is only looking out for himself. IMHO, hes a crook. 