Administrative Code Creating a Report: Check the sections you'd like to appear in the report, then use the "Create Report" button at the bottom of the page to generate your report. Once the report is generated you'll then have the option to download it as a pdf, print or email the report. 14VAC5-80-340. Qualification to sell variable life insurance. Qualifications of Agents for the Sale of Variable Life Insurance A. No person may sell or offer for sale in this Commonwealth any variable life insurance policy unless such person is currently licensed by the Commission as a life and health insurance agent, is authorized to represent the insurer through which the policy is offered and evidence...
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What is variable life insurance? Variable life insurance is a policy that provides a pay out to your beneficiaries when you die, and the opportunity to earn money. These policies are valid for the rest of your life, or as long as you pay the premium. That payment is fixed, meaning what you pay now is what you’ll pay until death. Part of the premium pays for the death benefit, and part of it goes into an account, where the money can be invested. That’s known as the cash value, which you can borrow against. The policy is “variable” because the cash value can fluctuate depending on where it is invested. Companies can offer a number of different options to choose from, including stocks and...
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It’s important to know all of your options for a life insurance policy before choosing one. Variable life insurance, one of those options, is also known as variable appreciable life insurance. In this article, we will explore what it is and how it works, who needs it, what the pros and cons are, if it’s worth it and your alternatives to variable life insurance. What is variable life insurance? Variable life insurance is a permanent life insurance policy that includes an investment. This type of life insurance policy is one that will stay with you for life, so long as you pay the premiums. The investment portion of the policy includes many sub-accounts, which may include stocks, bonds, money...
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A white circle with a black border surrounding a chevron pointing up. It indicates 'click here to go back to the top of the page.' What is variable life insurance? Variable life insurance has a cash value portion that's invested in the stock market. Personal Finance Insider writes about products, strategies, and tips to help you make smart decisions with your money. We may receive a small commission from our partners, like American Express, but our reporting and recommendations are always independent and objective. Terms apply to offers listed on this page. Read our editorial standards. Variable life insurance is a type of permanent life insurance, meaning it never expires. In...
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Buying life insurance may seem optional if you’ve never had a policy before, but it may actually be more important than insurance you buy for your home or your car. After all, a life insurance policy can protect your family from financial hardship and stress in the event of your untimely death, and what could possibly be more important than that? Of course, there are many types of life insurance you can buy. Variable life insurance is one of the main types to consider if you prefer to have lifetime coverage with an investment component. However, this type of life insurance comes with considerable risk that you should know about and understand before you consider purchasing a policy. What...
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Shopping for life insurance seems straightforward, but buying the right policy means knowing what each type of coverage offers. For example, variable universal life insurance provides a death benefit and includes an investment option, while another might offer the death benefit only. Here we'll look at what makes a VUL policy a unique life insurance product, and see how it differs from other types of permanent insurance. What is variable universal life (VUL) insurance? A variable universal life (VUL) policy is a type of permanent life insurance that includes policy cash value, variable investment options, flexible premiums, and a flexible death benefit that can be used in more than one...
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Your browser does not support Javascript. You should still be able to navigate through these materials but selftest questions will not work. 3.7.1 Variable Insurance Products To sell variable insurance products, an individual must hold a life insurance license and a Financial Industry Regulatory Authority (FINRA) registered representative's license. In Florida, agents who have fully satisfied the requirements for a life insurance license, including successful completion of a licensing exam that covers variable annuities, may sell or solicit variable annuity contracts. Variable insurance products are considered securities contracts as well as life contracts and contain no contract value...
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Variable Life Insurance Securities Law Attorney for Los Angeles Residents and Others We all trust our brokers to ensure that our money is being invested in the most prudent manner. For many of us who lack direct experience with understanding investment opportunities and strategies, we have no choice but to put our trust and financial well-being in the hands of a broker. Although many brokers take their duties quite seriously, there are some brokers and firms that take advantage of clients’ trust and make investments based on the financial gains that will result for the broker or the firm—not the client. Los Angeles securities law lawyer Steve A. Buchwalter has over 20 years of...
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Variable life insurance definition Examples of Variable life insurance in a sentence Variable life insurance under which the amount or duration of the life insurance varies according to the investment experience of a separate account. Variable life insurance under which the death benefits and cash values vary in accordance with unit values of investments held in a separate account. Variable life insurance under which the death benefits and cash values vary in accordance with unit values of investments held in a separate account.15.4(3) Prior to or at delivery of a life insurance policy, an insurer or producer shall provide the prospective purchaser the following:a. Variable life insurance...
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The Investments of a Variable Life Insurance Policy A variable whole life policy is one for which a policyholder can choose investments in which the premiums will be invested. He or she can usually select from several different investment objectives. Some insurance companies offer up to 50 different categories of investments. Depending on who offers the policy, the options can range from conservative to aggressive. Options usually also exist for selection of domestic, international and emerging market asset allocation. The policyholder is completely responsible for deciding upon the investments. The insurance company simply manages the account. Policyholder investments are not co-mingled in...
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