Too short term

Term insurance has no cash value - it only pays if you die while it is in effect.
Take a look at variable universal life insurance if you want a flexible insurance product that can increase in value with the market.

Options are entirely different investment vehicles - they will not insure debt or pay anything resembling a death benefit, but can be lucrative if you understand them and manage them well.

Apples and Mice..... not outside the box...... just outside.

Options have many uses... from protecting a portfolio, limiting risk, adding an income stream, earning money from time decay, earning money from volatility, earning money from no volatility and as a leveraged product........
but nothing to do with or associated with... term life insurance.