Which of the following insurance products does NOT require FINRA securities registration to sell?

The option that does not require FINRA securities registration to sell is modified whole life insurance. This type of insurance is classified as a permanent life insurance product, which primarily provides a death benefit and can accumulate cash value over time. Since it does not involve investments in securities or investment products, it falls outside the scope of FINRA requirements for registration.

In contrast, products like variable life insurance, universal variable life, and variable annuities are considered securities because they allow for investment options that can increase or decrease in value based on market performance. Therefore, selling these products necessitates obtaining appropriate FINRA securities registrations, as they involve a level of investment risk and are subject to regulatory oversight.

Understanding the distinctions between these types of life insurance products and their regulatory requirements is crucial for individuals pursuing a career in insurance sales, particularly for compliance with securities regulations and ensuring proper licensing.