When Is a Variable License Needed vs. Life Insurance License?

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A variable license and a life insurance license are two different things. Learn when a variable license is needed versus a life insurance license with help from a member of the California Department of Insurance Curriculum Board and insurance professional in this free video clip.

Part of the Video Series: Life Insurance & More
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Video Transcript

Hi, I'm Tony Steuer, The Life Insurance Sage, with my tip on when a variable life insurance is needed as opposed to a life insurance license. A life insurance license is necessary when an agent is selling a traditional life insurance policy such as a term life insurance policy, a whole life insurance policy, a universal life policy or any variation thereof. They are a policy where the funds are invested by the insurance company and the policy owner does not have a say in how those funds are invested. There are a few policies that straddle the line that are called indexed policies. Those policies, the policy owner can choose from certain funds but generally it's restricted by the insurance company. A variable life insurance license is necessary when you're selling a variable life policy. It's a securities product so hence you also need a securities license in addition to the regular life insurance license. A variable insurance product since it allows the policy owner to invest in securities product is what causes a variable life insurance license to be necessary. I'm Tony Steuer, The Life Insurance Sage, and that's my tip on determining the differences between a life insurance license and a variable life insurance license. Thank you for watching.


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