回复：A lot

Ask your agent to send you the illustration; do some simulation or simple excel spread sheet calculation you'll find the difference. Need more personal data to be accurate; keep in mind the tax on annuity is DEFERRED not Waived; Assume you'll pay 10% less of tax in future (very unlikely) and your gain is $100,000; your saving is $10,000; but your extra charge on VUL is at least 1%+ of base (depending on the index performance, the base should be much more than $100,000 in order to have $100,000 gain) ) ........