<prompt> Human: Hello. Im 28, and my mom recently told me about this insurance company, Transamerica, and suckered me into one of their presentations. I researched the company a bit beforehand so as to not fall for some of the BS theyre known for. This presentation focused only on the insurance which seems legit. However, the benefits of the insurance plan seems good, as in too good to be true, though legal. Even though it is a life insurance policy they talked about how a policyholder is allowed to withdraw from it like a loan, except tax free. With this in mind the conversation drifted more toward how to treat this advantage as a retirement fund or even a business loan with 0 interest, wow. Plus, the money in your insurance policy keeps building even after you withdraw because insurance companies invest in plenty of assets even more wow. AND even if the stock market dips a certain percentage is always guaranteed to the policyholder. OK so,1. Ive heard using a life insurance policy as a retirement vehicle is a terrible practice. Do you agree? Why or why not?2. Insurance companies actually have this much leeway?! 3. And if they do why pass on any advantage to normal, likely lower to middle class citizens? I dont see this business model as a way to help the little guy. 4. If there are certain laws that give insurance companies this much power and privilege do you know of or foresee any laws that could disrupt that 10, 20, 30 years in the future? This is life insurance were talking about here and I wonder how something like that could affect their clients. All in all Im a healthy skeptic and am not interested, however my 60 year old mother got a plan to take care of her family after discovering my fathers plans were wholly insufficient. The presentation was eye-opening because I didnt know this was possible, let alone legal, but it seems legit albeit shady, maybe even predatory. I honestly dont know. Perhaps Im being paranoid due to my lack of knowledge in finances. EDIT: Thank you to those who had helpful responses, I appreciate it. I know there is information about life insurance in this forum. The reason I made a post on PR is because I dont know the details of the insurance they described. They dont tell us if its term or whole life or anything thats really descriptive and helpful; it was a sales pitch. They told us about success stories and the best outcomes, not whats likely to happen. In addition, my mother gets very defensive when I ask her questions about this policy.I think one of the worst things about this is how these salespeople try to pretend that their giving great financial advice to vulnerable people who want to empower themselves. They act like its a service to the public. Absolutely infuriating.  <response>: Its whole life, you will regret buying it, if you want insurance buy term insurance and not from a salespersonRun awayPS your mom was conned as well, too bad 