Two-Hour Variable Life Insurance Policies

Gain a clear understanding of Variable Life and Variable Universal Life Insurance in California. Learn key policy features, regulatory requirements, and best practices to ensure compliant, client-focused recommendations.

Mandatory for Agents Who Sell Individual & Variable Life Insurance
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100% Online & Mobile-friendly

Language: English

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About This Course

Variable Life and Variable Universal Life Insurance policies are unique products that blend life insurance protection with investment features. Because of their complexity and regulatory requirements, agents must be well-prepared to present them accurately and ethically to consumers.

Mandatory for agents who sell individual and variable life insurance, this 2-hour course offers a comprehensive overview of these products as they apply in California. You’ll gain clarity on:

Key characteristics of Variable Life and Variable Universal Life policies
Policy requirements, including disclosures, grace periods, cash values, and separate accounts
Agent qualifications and regulatory obligations
The role of Regulation Best Interest (Reg BI) in ensuring appropriate recommendations

In addition, the course highlights best practices to help you avoid misrepresentation, document recommendations properly, and understand the differences between selling in person and online.

Who Should Take This Course?

This course is designed for:

California resident and non-resident life insurance agents seeking to sell Variable Life and Variable Universal Life products.
Financial advisors who want to expand their knowledge of cash value policies with investment features.
Compliance officers and supervisors responsible for overseeing the sale of variable products.
Professionals in related fields (such as estate planning or retirement planning) who need to understand how Variable Life products fit into client strategies.

The course content is fully aligned with industry standards and is regularly updated to reflect the latest regulatory developments and best practices.

By the end, you’ll be better equipped to explain these policies transparently, evaluate their suitability for clients, and remain compliant with both state and federal standards.

Topics Covered

Lesson 1: Overview of Individual Variable Life Insurance
Lesson 2: Selected Individual Variable Life Policy Requirements
Lesson 3: Whether the Policy is Appropriate for the Consumer
Lesson 4: Additional Requirements and Best Practices

What You'll Learn

Students will learn about Individual Variable Life Insurance through an extensive overview to include:
- Key Characteristics of Individual Variable Life Insurance.
- Key Characteristics of Individual Variable Universal Life Insurance.

Students will also learn about selected Individual Variable Life policy requirements to include, but not limited to:
- Mandatory cover page disclosures.
- Grace period.
- Description of benefit base.
- Deferral of variable death benefit payment.
- Cash value and surrender value.
- Separate accounts.
- Qualifications of agents to sell variable life insurance.

Students will be exposed to and learn about whether the Variable Life Insurance is appropriate for the consumer through exploration of the “Best Interest,” 17 CFR Section 240.15/-1, Regulation Best Interest and a whole host of considerations.
Students will also learn about additional requirements and “Best Practices” relating to:
- How requirements for selling in person and online differ.
- Avoid misrepresentations and omissions.
- Best Practices and the importance of documentation.

What license is needed to sell Variable Life policies?

To sell Variable Life insurance, an agent must hold both a state life insurance license and the appropriate FINRA securities registration (typically a Series 6 or Series 7 license, along with a sponsorship by a broker-dealer). This is because Variable Life policies are considered securities as well as insurance products.

What are Variable Life insurance policies?

Variable Life insurance is a type of permanent life insurance that combines a death benefit with a cash value component. The cash value is invested in separate accounts (like mutual funds), meaning its growth depends on the performance of underlying investments. This allows for the potential of higher returns but also comes with market risk. Cash value and possibly death benefits can fluctuate.