Which types of insurance products are generally not sold by brokers under the RIBO Act?

The correct answer is specialized financial products not classified as insurance. Under the RIBO Act, insurance brokers are primarily focused on selling insurance products that fall under specific categories defined by regulatory standards. Specialized financial products often do not meet these classifications and may include instruments like investment products, securities, or other financial vehicles that do not provide insurance coverage or adhere to the insurance regulatory framework.

Unlike basic life insurance products, health insurance products, and homeowners insurance, which are traditional insurance products and can be sold by licensed brokers, specialized financial products typically require different types of licensing and regulatory compliance. Therefore, brokers operating under the RIBO Act are not authorized to sell these types of products, as they do not fit into the established insurance definitions and regulatory guidelines that apply to brokers. This distinction is crucial for understanding the scope of a broker's role and the regulatory environment of insurance sales.