Suitability questionnaire is another term for the series of questions used to gather client information necessary to assess whether a proposed life or annuity product is appropriate under suitability or best-interest rules. It may be embedded within a suitability form, delivered electronically, or integrated into a digital sales platform. The questionnaire typically addresses financial status, investment knowledge, risk capacity, objectives, time horizon, and product-specific considerations such as surrender charge tolerance and understanding of guarantees and risks. A robust suitability questionnaire helps standardize data collection and reduces the risk of missing critical information that could undermine the recommendation.

Advisors use suitability questionnaires during client interviews, whether in person or via e-application systems. They clarify questions to avoid misunderstandings and document client responses accurately. Carriers and regulators review completed questionnaires to confirm that recommendations are grounded in appropriate fact-finding and that higher-risk or complex products are being placed with suitable clients. Advisors may customize supplemental questionnaires for advanced strategies, such as premium financing or indexed annuities with complex riders. Understanding suitability questionnaires helps advisors embed compliance into their sales process while still keeping conversations client-friendly and goal-focused.