That sound exactly like the pitch I got from my advisor.
Let's look at an analysis:
You invest $2000 a year at 5% for 59 years in Life Insurance.
Or
You invest $2000 a year at 8% for 59 years in stocks.
Life Insurance Compounded: $705,167
Stocks Compounded: $2,504,426
This is a prime example that compound interest has more momentum at a higher rate.
I'm leaving out the fact that you can invest more principal in stocks due to no premium. Now if you have a life insurance policy where you get the cash value and death benefit, that needs factored in. (read your fine print) You do need to back out the interest you pay to borrow your own money. Most are around 8%. I don't trust them. My assistant told me a story about how her father's life insurance failed to pay out.
How many insurance companies go out of business? Not many... The cards are stacked in their favor.