Life Insurance FundamentalsQuestion 146 of 716
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 signed by the proposed insured and a witness
b.A copy of the agent's insurer appointment letter and license certificate
c.A signed buyer's regret form in which the applicant waives the free-look right
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 1933This topic, taught in full in the California Life & Health Insurance Producer Exam guide. California Life & Health Insurance Producer Exam — Complete Study Guide (2026) — PDF + EPUB, $19.99 · 14-day refund →
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PrepPass team · 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)