I know you are going to do that...

Sure, twist it to your liking and completely forgo the 45 years of protection, conveniently skip off the benefits of starting younger and concentrate on the high risk later years. This is not an participating on investment plan, it is a term plan with a slight twist with cash value, a slight twist that can also protect up to 100 years old, and let those who wanted to explore the mechanism of insurance be able to do so. Most term plan only covers till 70 and without pay out, may be you should use that as your judging stone?

Start at age 55, he would be paying 45 year x $33,650= $1,514,250 - $1,000,000 = $514,250/45 = $11,427 per year or $952 per month, for 1million how is that?

Or may be you want a term life? start from 55=23k per year, 60=28k per year, protect up to 70 years old no return. Better?

Or to play your game, start at age 55 pay 1 year = $33,650, and jump off the cliff, pay out 1million, Return = 2971%

You know what, you do not consider inheritance tax when you are reaching retiring age, because you do not pay for the inheritance tax. The Inland Revenue will calculate what they want to take and will join the creditors to chop it off from your estate first. Also Malaysia do not have inheritance tax.

Again 30 to 60 years old, conveniently forgo the 1mil protection. Since you are so good at calculation how about you calculate the MRTA that the bank charge you in a lump sum?