That is definitely a reason people get WL. There is not one answer as to why it is used. There are lots of variables that it can come in handy.
However, like you NOLA, one reason I have some WL is so that I have a way to supplement retirement income with something that is guaranteed to grow as long as I keep it. I have insurance that I can have pay for itself if I want to, and get tax free income in retirement. Basically get all my money back plus interest, and still have insurance for estate needs, leaving legacy, whatever. If I remember correctly, you have a similar plan to me. Some WL, some term with the goal to convert when I can, and DI.
As iknowmorethanyou said, impossible to recommend what is best from what is known. I don't even know if $1M of insurance is right for the guy.
This post was edited on 4/30 at 2:55 pm