Seeking Advice – Universal Life Insurance as Investment for $500k Gift?

Help! Need some definitive advice on variable universal life insurance (VUL).

I’m a 31M and will be receiving a gift from family of about $500k over the next 3-5 years. I’m already maxing out my 401k, HSA, and back door Roth contributions. I have no debts and am still renting.

My goal with this money is to park it somewhere for the next 20 years, and start to draw down on it as supplemental income starting when I’m 50.

With that, I’ve been looking at a VUL policy as a potential option. Plan is to overfund it over the next 10 years ($50k / yr), and allow my money to grow as cash value. At 50, I’d be able to take a loan on my money, and I won’t be paying any income/capital gains tax. Versus, with a brokerage account, I’d be paying both.

Getting concerned though given the OVERWHELMING negative consensus in this subreddit, so am hoping for some final advice.

Would appreciate any comments and thank you all!

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