Questions about IUL

Hello, I am looking for guidance and advices to the questions below,

My Transamerica illustration shows premiums outlay is zero at age 60, and it says even if it is zero, monthly deductions continue until age 100. How does everyone manage to pay premiums in retirement?

“Tax advantage income stream in retirement” is one of the advantages of IUL being mentioned in some posts, how does that work exactly? Say if you are getting 50k per year, is that a loan against your case value and a new loan every year? Assume it’s 1% on the loan, and without paying it back, that’s 1% charge every year until passing away? Wouldn’t that be a concern for eating away the profit yearly?

I read somewhere when cash value is not completely used for “income stream” after passing, the remaining balance goes to insurance company instead of beneficiary. There is an example goes like this, DB is 100k and CV is 300k. The insuree borrowed 100k from CV and passed away before paying it back. Now DB is used to pay for the loan amount, and 300k CV ends up going to insurance company and beneficiary doesn’t get anything. How true is that?