Poor yield from Vivolife policy

A policyholder in mid 30s showed me a benefit illustration of a Vivolife policy (whole life policy with premiums payable for 25 years).

The net yield to the policyholder is between 1% to 2% and the reduction from the gross yield is almost 3%. I find this policy to be too expensive and gives a poor yield to the policyholder. The cash value comprise of a guaranteed portion and a non-guaranteed portion. If the bonus is reduced in the future, i.e. the non-guaranteed portion, the net yield will be even lower.  It is better to buy a term insurance and invest the difference in a low cost fund. See Practical Guide on Financial Planning.

Year  Premium  Cash Value  Gross Yield   Net Yield   Reduction
 25     2727     77021        3.75%        0.93%       2.82%

 25     2727     90419        5.25%        2.11%       3.14%