Why sell permanent Insurance?

For small amounts, like 100K, I find most people will want that coverage guaranteed for life. But by the time most people are in their 80's you have to figure they should have paid off most of their debts and won't need a large amount of coverage anymore (of course, in some cases, clients still will need large amounts), but what I end up doing in many cases is selling a large term policy along with a small GUL.

and what are the odds of living past 120,,,,,