What information is typically required for the application of a Variable Life Insurance policy?

The application for a Variable Life Insurance policy typically requires a comprehensive set of information to ensure the insurer can adequately assess risk and provide appropriate coverage. Personal health information is crucial as it helps the insurer evaluate the insured individual's health history and any potential future claims. Financial status is also important; this information allows the insurer to determine the applicant's ability to pay premiums and to assess the appropriate amount of coverage based on the individual's financial needs and goals. Lifestyle choices can impact both health and financial risk; for instance, habits such as smoking or engaging in high-risk activities can significantly influence insurance underwriting.

The other options provided do not encompass the full scope of information that insurers usually require. Only gathering the applicant's name and contact information would be insufficient for underwriting purposes, as it doesn't provide a foundation to evaluate risk. Just focusing on employment history and income level neglects other critical factors, notably health and lifestyle, that affect insurability. Lastly, while details of previous insurance policies can provide context, they do not replace the need for detailed personal health and financial information necessary for underwriting a variable life policy.