Because variable universal life insurance involves investment in subaccounts, it often falls under the oversight of both insurance regulators and securities regulators. Agents who sell VUL typically must have an insurance license and a securities license (or specific designations) in many jurisdictions. This layered regulation helps to ensure consumers receive adequate disclosure about the risks, fees, and structure of the product.

On your end, you should receive a prospectus outlining subaccount details, risk factors, and expense ratios, as well as policy documentation detailing fees and charges. It is essential to read these materials thoroughly to grasp the full scope of your purchase.