Is a Variable Universal life a good retirement investment?

I will be putting $24,000 per year into it for 20 years for a $750,000 policy. I will them get $115,000 back for more than 30 years after I retire. I put in $480,000 and will get $3,450,000 back in retirement with a death benefit of about $700,000. This is assuming a 8% return.

Answers:
It is usually best to buy term life insurance and invest the money you save in an IRA, 401k, or no-load low-fee mutual fund. Variable Universal life and whole life insurance have a lot of commissions and other fees that sap your investment return and make your agent rich instead of you. Here are some references you can read;

Term vs. Cash Value Insurance Articles:
http://finance.yahoo.com/insurance/artic...
http://money.cnn.com/pf/101/lessons/20/i...
http://www.smartmoney.com/insurance/life...
http://www.kiplinger.com/basics/archives...
http://www.fool.com/insurancecenter/life...

General Information on Life Insurance:
http://www.fool.com/insurancecenter/life...
http://finance.yahoo.com/how-to-guide/in...
http://money.cnn.com/pf/101/lessons/20/i...
http://www.kiplinger.com/basics/archives...
I agree with the first answer. Term Life plus investing the difference yourself is a better answer.

The problem is you need the discipline to keep up investing the $24,000/year.

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