I don't know about that specific life insurance, but here are a few things he might go with (I've had that discussion
not so long ago with an "advisor" for a life insurance product):
- emphasis on the "life insurance" part of the investment: your other investment solutions don't cover your family if you die, please freak out and stay with us
- Surrender cost: if you give up now, you'll actually lose money, please freak out and stay with us, at least for a few years
(also known as "we're protecting you from yourself. The surrender cost is here so that you don't stop saving money all of a sudden")
- Your math is wrong, our policy actually doesn't cost as much as you calculated, and is comparable in price to similar products. please stay with us
- Because this is a life insurance, tax efficiency this or that. You should stay with us
- This product is personalized to your situation. We actually have other offerings similar to [Vanguard/Betterment/etc...], but our analyst concluded that this was the best choice for your long term life goals.
- Other advice you've received (on the internet) to get off this policy usually comes from people who have cancelled that policy themselves, people who cannot stay focused on their investment plans, shot themselves in the foot for that, and now think that this is a bad product, when in reality it's them who couldn't stay the course. You're better than that.
- I have sold this product for 12 years and all my clients are extremely happy with it, many of whom retired extremely rich. You are making a mistake.
- The competitor product you're thinking of is not insured against X or Y