People buy insurance to protect oneself from a loss. Life, Health, Auto, Home insurance all protect you or your family from a big financial loss.
You want to save for a future expense, so you can buy a car or a home. For events far enough in the the future you would actually want to invest, that is why so many people use more than a bank savings account to have enough money to pay for their kids college.
You want to invest for retirement. That involves buying stocks, bonds, or other investments to be used decades from now. They may even be needed to pay for expenses for decades beyond retirement.
Why do you want to combine them into one investment fund. You said the insurance policy you want to buy is an investment tool plus a retirement plan. Each of those three things have different goals, rules, and tax implications.
Many of these non-term polices have high fees and commissions for the agent. That is why they want you to buy them. They frequently give the most optimistic view of returns during the sales pitch. You have to understand what exactly is guaranteed, and what is just a guess.
By the way if you don't have any dependents, and don't expect any in the next few months. Then the risk you are insuring is the chance that when you want to buy insurance your health will prevent you from being able to do so.
For example if you have no need at age 25, but buy a 10 year term policy anyway. At year 9 you get married, and year 9.75 you have a child. When you try to increase the amount of coverage you are rejected. You then have spent 10 years of premiums for less than a year of coverage.
Yes non-term insurance generally is permanent insurance, so you are protected from that scenario, but how much insurance do you need? It depends on your job, your spouses job, the number of kids, their ages, any disabilities they have. Today those are just a guess.