Term vs Life Plan Insurance??

Hi All, I recently just graduated from uni and started working at the beginning of this year. Back in December 2022, I signed up for AIA Pro Lifetime Protector (II) - Max. However, recently I spoke to some prudential and AIA agent, and I begin to regret buying the plan.

Initially, I was assured by my AIA agent of 5 years that the "Max" plan would not have the additional charges (e.g. mortality charge) to eat into my cash value after I'm 50+. However, after seeking a second opinion from another AIA agent recently, it doesn't seem to be that way. So now I'm looking at other Term and Life plans and probably cancel my ILP asap.

So I have read a lot of Reddit posts and it seems everyone is saying to get a Term plan and invest the rest of the money in stock and whatnot. I'm just wondering why is everyone pushing for Term instead of Life plan?

I thought it was a good idea that having a life plan would ease the burden knowing that anytime from now to 99 the insurance company will payout whatever the coverage in the event I receive any CI illness. *Touch wood* Are most people saying to get Term plan betting on the money they invested earlier in life and using it to pay for treatment later on in life, should their Term plan expire before they receive any CI illness?

I'm genuinely curious as to why the Term plan is more popular than getting a Life plan.