Life Insurance FundamentalsQuestion 146 of 315
What document must be delivered to a prospect at or before the sale of a variable life or variable universal life policy?
a.A notarized affidavit of insurability
b.A copy of the agent's appointment letter
c.A signed buyer's regret form
d.A prospectus describing the separate account and subaccount investments
Explanation
Variable life products are securities under federal law, and SEC rules require delivery of a prospectus at or before solicitation. The prospectus discloses the separate-account investments, fees, and risks the policyowner bears.
Law Reference: Securities Act of 1933Practice all 315 questions free — no signup required.
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Sen Lin, PrepPass Founder · Verified against California Life & Health Insurance License Exam · How we review
Reviewed by John Zihao Zhang — California-Licensed Life Insurance Agent (CA Dept. of Insurance License #4396095 — verify)