Never really understood why 100,000 miles was some magic number people think vehicles start to fall apart.
If it was going to fall apart at 100,000 miles it would have already started to fall apart at 75k miles.
Maybe he's worried about it falling apart at 125,000 miles.
But to the OP: I'm a strong opponent of extended service contracts. They're very much like gambling. You buy one hoping (or expecting) your vehicle to break within the timeframe of the contract, they sell you one on the statistical probability that your vehicle won't. And they tweak the odds in the house's favor by limiting what they'll cover.
This is where I strongly recommend self-insuring. If you have $2500 in your pocket ready to spend on an extended warranty, put the $2500 in a savings account and call that your "Jeep repair fund".
If by the time you sell your jeep nothing has gone wrong with it, you have $2500 in your pocket. If it does, then you have up to $2500 in cash to fix whatever went wrong with $0 deductible, and it's guaranteed to be covered, unlike your extended service contract.
The only time an extended service contract like that pays off is in catastrophic failures, such as when your engine grenades and it's going to cost you $4500 to replace. These scenarios are rare and the extended warranty company knows that. In that case, you'll probably still have a deductible. If you have a Jeep Fund for $2500, at least the first $2500 will be covered thus easing the pain considerably.
Best part: Your Jeep repair fund
never expires.