Life Insurance Exam [National] 34 – Variable Life Insurance Explained

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. This episode covers content for the National Exam life insurance exam. In this episode you will learn: • Variable life insurance requires dual licensing with both a life insurance license and a securities registration like the Series 6 or 7. • The policyowner bears the entire investment risk in a variable life policy as there are no guaranteed minimum cash values. • Premiums in variable life policies are held in a separate account rather than the insurer's general account to allow for market-based subaccount investments. • While cash values fluctuate based on performance, variable life policies typically provide a guaranteed minimum death benefit. • A prospectus must be delivered to a potential client at or before the time of the sales presentation for any variable insurance product. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or Youtube Channel: https://www.youtube.com/@Open-exam-prep