Rarely does it make sense to use insurance for an investment. Cost matters when investing and risk exposure is actually an advantage, over long periods of time, which can be rewarded with higher returns. Early college planning clearly meets these criteria with an inflation rate around 6%, and insurance investments omit these two important factors.
This article links to Wall Street Journal (WSJ). Occasionally the WSJ limits access to subscribers based on its marketing strategy. Often, if the link requires subscriber access, you can “search” the original title of the article and gain access through you search function, where apparently the WSJ allows access.