Why Cash Value Life Insurance??

[simplepeddler]

Okay so, I am waist deep in the Dave Ramsey Financial Peace University.
Of Course, he hates cash value life insurance and makes a good case for it when it comes to numbers.

I have no problem saving the money into a mutual fund. I always pay myself first.

So, 6K a year in a mutual fund after 20 years averaging just 5% is 215K or so. Same amount going into an Estate Complife plan only Garantees me 86K or so with a cash surrender of 163K

so question is why do it??
and second question is what the hell is the difference between Guaranteed and cash surrender?

I know I should be taking to my agent, but the guy talks so fast I can't catch up with him.
He is smart as a whip and several multi millionaires use the guy, so I know he makes them money.

What say you salty cajun "gurus"?