Please explain it and tell me if it’s a good idea or bad idea? This would help so many people.
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A reasonable mind might disagree but I think anything except term life insurance for an adult is a bad idea.
What is life insurance? It is to cover debts and obligations for surviving family members. So if you have a 40 year old guy with a wife and a kid (me) then you want a good amount of life insurance so that my wife and daughter will not go into poverty due to my death.
My daughter has no life insurance. If she dies I would be absolutely heartbroken and the thought of it is horrible. However, if that were to happen she has no debt and nobody relying on money from her so she has no reason to carry that kind of insurance.
There are some tax and other advantages to cash value but the cost is higher than term and the difficulty in managing these policies effectively is not worth it for the majority of people.
Others might disagree but most things dealing with money have pros and cons.
https://www.forbes.com/advisor/life-insurance/cash-value-life-insurance/
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