IUL with LIBR; or Term Insurance + Mutual Fund Investment?

Hello Life Insurance Sub,

I currently have a Indexed Universal Life Policy with a Life Income Benefit Rider.

I pay $100 a month for 200k Death Benefit & at age 68 about $18,700 yearly retirement income or $1,560 a month approximately. Currently am 31.

I am getting into being licensed in the industry and my companies feelings along with Dave Ramsey are that Universal and Whole Life are garbage policies and that you should always do term and invest the difference, aka mutual funds, mentioned a lot.

I’d just like to hear some input from non-biased parties that have no skin in the game in regards to my money.

I’ve done some projections with investment calculators and calculated the cost of term insurance + investing what would be the rest of my IUL monthly premium. [$31 for term insurance for a 200k benefit & $69 for monthly investing.]

I’m still not seeing a glaring benefit to getting rid of IUL with LIBR and switching to term life + investing. Would welcome all opinions on the matter. If I have not been clear about any details I will try to update in comments.

Thanks for your time folks!