Who regulates your policy in Vermont
Insurance is regulated state by state, so your policy is governed by Vermont law and overseen by the Vermont Department of Financial Regulation — not by a federal agency. It licenses the agent who sells to you and handles complaints if something goes wrong.
Two things worth doing before you sign: verify your agent's license is active in Vermont, and keep the consumer line (802-828-3302 or 800-964-1784) on hand. Both are free, and an agent not licensed in your state is a hard stop.
Your window to cancel in Vermont
No single fixed free-look period for ordinary individual life appears in 8 V.S.A. Chapter 103 standard policy provisions. DFR’s consumer guide states 10 days after delivery for non-replacement life policies and 30 days when the new policy replaces an existing one; variable life filings must provide a 10-day return right (Regulation I-88-3); replacements require a 30-day return notice (Regulation I-2001-03). Because ordinary life is not a single fixed statutory number, freeLookDays is null.
Because the rule is not a single fixed number here, the period that applies to you is whatever your specific policy states. Find that clause in the contract before you sign, rather than assuming a standard period exists.
If a carrier fails in Vermont
If your carrier became insolvent, the Vermont Life & Health Insurance Guaranty Association is the backstop. In Vermont it covers a death benefit up to $300,000 and cash surrender value up to $100,000. Those are separate ceilings, so an IUL's accumulated cash value is protected independently of the death benefit.
This protection is not a reason to skip carrier due diligence. It caps what you would recover, and a policy designed above that cap leaves the excess exposed.
What Vermont adds to the cost
Vermont levies a state premium tax of 2% on life insurance premiums. That is right at the median of the 50 states covered here. You do not pay it as a separate line item — carriers price it into the premium, which is part of why the same policy design can cost differently across state lines.