Final answer:
The insurance product that does not require an agent to have FINRA securities registration is Modified Whole Life insurance, which is a traditional form of life insurance without investment components.
Step-by-step explanation:
The insurance products listed all pertain to forms of life insurance, except one which is associated with investment components and, therefore, requires the insurance agent to have proper FINRA securities registration. The products are as follows: Variable Life, Universal Variable Life, and Variable Annuity. These contain investment opportunities that can fluctuate in value, necessitating securities registration. The exception here is Modified Whole Life insurance, which is a type of permanent life insurance without embedded investment features, and thereby does not require the agent to have FINRA securities registration to sell it.