A producer selling Variable Universal Life (VUL) insurance in California must hold:

Explanation

Variable Universal Life (VUL) combines a flexible-premium universal life chassis with policyowner-directed investment in 'separate accounts' (sub-accounts that resemble mutual funds). Because the separate accounts are SECURITIES under federal law (Investment Company Act of 1940) and California Corporations Code, the producer must hold both an insurance license (California Life-Only or Life & Disability) authorizing variable contracts and a FINRA registration (Series 6 or 7) plus typically Series 63. California Insurance Code §10506 governs variable contract authority. A California Life-Only license standing alone is insufficient by itself; the variable portion requires securities licensing, and the insurer's registration of its own separate account does not cover the selling producer. Holding only a FINRA Series 6 or 7 with no state insurance license is incomplete; both insurance and securities credentials are required, and federal registration does not preempt state licensing. A Property & Casualty broker-agent license is unrelated — P&C licenses do not authorize life or variable products. The dual-license requirement is a frequent test point.