Suitability / Best Interest (Florida)

Florida insurers must establish standards and procedures for consumer recommendations that result in transactions involving life and annuity products, plus a system for supervising recommendations so consumer insurance needs and financial objectives are adequately addressed. A recommendation is advice by an insurer or its agent that would result in the purchase, exchange, or replacement of a life policy or annuity based on that advice.

Before the company's advice turns into a sale, the company must have a system proving the sale actually fits the customer.