# 14 Va. Admin. Code § 5-80-50: 14VAC5-80-50. Standards of suitability

> Virginia · Regulations · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_VA_ADC_14_5_80_50

## Section

- **Citation:** 14 Va. Admin. Code § 5-80-50
- **Heading:** 14VAC5-80-50. Standards of suitability
- **Jurisdiction:** Virginia
- **Kind:** Regulations
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** Virginia Administrative Code / Title 14 Insurance / Agency 5 State Corporation Commission, Bureau of Insurance / Chapter 80 / 14VAC5-80-50

## Text

Every insurer seeking approval to enter into the variable life insurance business in this Commonwealth shall establish and maintain a written statement specifying the Standards of Suitability to be used by the insurer. Such Standards of Suitability shall specify that no recommendations shall be made to an applicant to purchase a variable life insurance policy and that no variable life insurance policy or certificate shall be issued in the absence of reasonable grounds to believe that the purchase of such policy or certificate is not unsuitable for such applicant on the basis of information furnished after reasonable inquiry of such applicant concerning the applicant's insurance and investment objectives, financial situation and needs, and any other information known to the insurer or to the agent making the recommendation.

## Nearby sections

- [14 Va. Admin. Code § 5-80-10 14VAC5-80-10. Scope](https://www.frixlaw.com/law-library/statutes/STATE_VA_ADC_14_5_80_10.md)
- [14 Va. Admin. Code § 5-80-20 14VAC5-80-20. Definitions](https://www.frixlaw.com/law-library/statutes/STATE_VA_ADC_14_5_80_20.md)
- [14 Va. Admin. Code § 5-80-30 14VAC5-80-30. Licensing and approval to do business in the Commonwealth](https://www.frixlaw.com/law-library/statutes/STATE_VA_ADC_14_5_80_30.md)
- [14 Va. Admin. Code § 5-80-40 14VAC5-80-40. Filing for approval to do business in the Commonwealth](https://www.frixlaw.com/law-library/statutes/STATE_VA_ADC_14_5_80_40.md)
- [14 Va. Admin. Code § 5-80-50 14VAC5-80-50. Standards of suitability](https://www.frixlaw.com/law-library/statutes/STATE_VA_ADC_14_5_80_50.md)
- [14 Va. Admin. Code § 5-80-60 14VAC5-80-60. Use of sales materials](https://www.frixlaw.com/law-library/statutes/STATE_VA_ADC_14_5_80_60.md)
- [14 Va. Admin. Code § 5-80-70 14VAC5-80-70. Requirements applicable to contractual services](https://www.frixlaw.com/law-library/statutes/STATE_VA_ADC_14_5_80_70.md)
- [14 Va. Admin. Code § 5-80-80 14VAC5-80-80. Reports to the Commission](https://www.frixlaw.com/law-library/statutes/STATE_VA_ADC_14_5_80_80.md)
- [14 Va. Admin. Code § 5-80-90 14VAC5-80-90. Authority of Commission to disapprove](https://www.frixlaw.com/law-library/statutes/STATE_VA_ADC_14_5_80_90.md)
- [14 Va. Admin. Code § 5-80-100 14VAC5-80-100. Variable life insurance form approval; in general](https://www.frixlaw.com/law-library/statutes/STATE_VA_ADC_14_5_80_100.md)
- [14 Va. Admin. Code § 5-80-110 14VAC5-80-110. Filing of variable life insurance policies](https://www.frixlaw.com/law-library/statutes/STATE_VA_ADC_14_5_80_110.md)
- [14 Va. Admin. Code § 5-80-120 14VAC5-80-120. Mandatory policy benefit and design requirements](https://www.frixlaw.com/law-library/statutes/STATE_VA_ADC_14_5_80_120.md)
- [14 Va. Admin. Code § 5-80-130 14VAC5-80-130. Mandatory policy provisions](https://www.frixlaw.com/law-library/statutes/STATE_VA_ADC_14_5_80_130.md)
- [14 Va. Admin. Code § 5-80-140 14VAC5-80-140. Policy loan provisions](https://www.frixlaw.com/law-library/statutes/STATE_VA_ADC_14_5_80_140.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_VA_ADC_14_5_80_50. Check the current official text before relying on it. Not legal advice.