Sorry to disagree with you, but you couldn't be more wrong.
The major flaw with these plans is not the BS returns that you are promised. The major flaw is what you are not told, which is the level of commissions and charges, and the impact that this will have.
The level of these charges are so high that there is no possibility that your plan can keep up with markets.
If you save $1000 per month into a passive investing fund for 25 years you can expect 7% per annum over the long-term, giving a maturity value of $820,500.
But if you buy one of these policies, with annual fees of 6.5%, the value of a similarly invested portfolio will be $320,500.
In other words, the true cost of the advice to buy this policy was $500,000!
Now the adviser doesn't get $500,000, but that is the true cost of their advice to you.