Life Insurance Basics
What licensing does the sale of a variable life insurance policy require?
Answer and explanation
Answer: C. A variable contract is both insurance and a security, so the producer needs the state life licence and FINRA registration, and the insurer must register the product with the Securities and Exchange Commission. Either credential alone is insufficient.Source: PSI — New York DFS Insurance Candidate Information Bulletin — Outline, regulation of variable products
More life insurance basics questions
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