Final answer:
Modified Whole Life insurance does not require an agent to have FINRA securities registration to sell, unlike Variable Life, Universal Variable Life, and Variable Annuities which have investment components.
Step-by-step explanation:
The question is asking which insurance product does not require an agent to have FINRA securities registration to sell. Among the options provided—Variable Life, Modified Whole Life, Universal Variable Life, and Variable Annuity—three of these are securities products, and one is not. Products such as Variable Life, Universal Variable Life, and Variable Annuity have investment components and therefore require the selling agent to have proper FINRA securities registration. However, Modified Whole Life is a type of traditional life insurance product and does not have an investment component, thus it does not require FINRA securities registration. The correct answer to the question is B. Modified Whole Life.
All of these insurance products require an agent to have proper FINRA securities registration in order to sell them except for Variable Life.
Variable Life insurance is a type of policy that allows the policyholder to invest in various investment options. It combines the benefits of both life insurance coverage and investment growth. However, this type of insurance does not require the agent to have FINRA securities registration because it is not considered a security.