Virginia Disclosure Hub

VA Code Title 38.2, replacement of life insurance Form VLI-4, consumer privacy rights under the VCDPA, and Virginia State Corporation Commission Bureau of Insurance contact information.

AskSasson.com, Last updated: June 16, 2026

This page contains Virginia-specific insurance and privacy disclosures applicable to residents of Virginia who interact with AskSasson.com or Sasson Emambakhsh as a licensed Virginia insurance producer.

Virginia Producer License

Sasson Emambakhsh is licensed as a non-resident insurance producer in the Commonwealth of Virginia under License #1569892. This license authorizes the discussion and placement of life insurance, disability insurance, long-term care insurance, and fixed annuity products for Virginia residents.

You may verify this license at any time through the Virginia State Corporation Commission (SCC) Bureau of Insurance online license lookup, or by contacting the Bureau directly (contact information below).

Virginia Insurance Act, VA Code Title 38.2

The Commonwealth of Virginia's insurance industry is governed by VA Code Title 38.2, known as the "Insurance Act." This comprehensive statute regulates insurers, producers, and the conduct of the insurance business in Virginia. Key provisions applicable to consumers include:

  • Licensing requirements for insurance producers (§38.2-1800 et seq.)
  • Standards for policy form approval and rate regulation
  • Consumer protections, including claims handling requirements and prohibited practices
  • Solvency and financial oversight of Virginia-licensed insurers

Sasson Emambakhsh is fully committed to compliance with VA Code Title 38.2 and all applicable Virginia insurance regulations in every interaction with Virginia consumers.

Unfair Trade Practices, Va. Code §38.2-500 et seq.

Virginia law prohibits unfair methods of competition and unfair or deceptive acts or practices in the business of insurance under Va. Code §38.2-500 and the sections that follow. Prohibited practices include:

  • Misrepresentation of the terms, benefits, dividends, or conditions of any insurance policy
  • False advertising or misleading statements about insurance products or insurers
  • Defamation of insurers or producers by making false and maliciously critical statements
  • Boycott, coercion, or intimidation of any person in connection with insurance transactions
  • Twisting — persuading a policyholder to surrender, lapse, or convert an existing policy through misrepresentation or incomplete comparison
  • Churning — replacement transactions that primarily benefit the producer at the expense of the consumer
  • Unfair discrimination between individuals of the same class and risk

Any Virginia consumer who believes they have been subjected to an unfair trade practice has the right to file a complaint with the Virginia State Corporation Commission Bureau of Insurance.

Producer Commission Disclosure, Va. Code §38.2-1821

Va. Code §38.2-1821 addresses the compensation of insurance producers. Specifically:

  • Sasson Emambakhsh, as an independent licensed insurance producer, is compensated by commission from the insurer, not by direct fees charged to the client, in the standard course of insurance placement
  • Commissions are paid by the insurance carrier and are deducted from premiums at the carrier level; they do not represent an additional charge to you beyond the quoted premium
  • If any fee arrangement differs from commission-based compensation, you will be informed of the nature and amount of that compensation prior to or at the time of the transaction

As an independent producer offering products from multiple carriers, Sasson Emambakhsh is not captive to any single insurer. Carrier selection is based on suitability for your individual needs, not commission rate.

Replacement of Life Insurance, Form VLI-4

When a life insurance policy or annuity contract is being replaced in Virginia, the producer is required to comply with Virginia replacement regulations, which include providing the applicant with a Virginia Life Insurance Replacement Notice (Form VLI-4) before the application is signed. Virginia replacement requirements include:

  • Delivering a completed Form VLI-4 to the applicant prior to or concurrent with the application for replacement coverage
  • Providing a written comparison of the existing and proposed policy so the consumer can make an informed decision
  • Notifying the existing insurer of the replacement as required by Virginia regulations
  • Retaining signed copies of all replacement documentation in accordance with Virginia recordkeeping requirements

Important: Do not lapse, surrender, or cancel any existing life insurance policy or annuity until you have received the new policy and confirmed it is in force and meets your coverage needs. Review all replacement documentation carefully, including any surrender charges, new contestability periods (typically two years), and any changes in benefits or premiums.

Annuity Suitability, Virginia Regulations

Virginia has adopted the NAIC Suitability in Annuity Transactions Model Regulation. Under this framework, any annuity recommendation made to a Virginia consumer must be based on a reasonable assessment of the consumer's financial situation, objectives, risk tolerance, time horizon, and liquidity needs. Key consumer protections include:

  • Suitability assessment: A suitability questionnaire must be completed and a profile developed before any annuity recommendation is made
  • Best interest standard: Annuity recommendations must be in the consumer's best interest, not primarily based on the producer's compensation
  • Replacement disclosures: When replacing an existing annuity, surrender charges on the existing contract and any lost guaranteed benefits must be fully disclosed in writing
  • Tax consequences: The tax consequences of exchanging or surrendering an annuity — including potential taxable events and surrender charge consequences — must be disclosed

You will never be pressured into an annuity transaction that is not appropriate for your individual situation. If you have questions about an annuity recommendation, you have the right to request a full written explanation of the basis for that recommendation.

Virginia Free-Look Period

Virginia law provides a minimum free-look period following the delivery of an insurance policy or annuity contract:

  • Life insurance policies: A minimum of 10 days from the date of policy delivery
  • Annuity contracts: A minimum of 30 days from the date of contract delivery

During the free-look period, you may return the policy or contract to the issuing insurer or to Sasson Emambakhsh for a full refund of any premiums or consideration paid. Review your policy documents carefully during this period. If you have questions about the free-look period applicable to a specific product, contact Sasson Emambakhsh or the issuing carrier directly before the period expires.

Virginia Consumer Data Protection Act (VCDPA)

The Virginia Consumer Data Protection Act (VCDPA), effective January 1, 2023, establishes data privacy rights for Virginia residents. The VCDPA applies to businesses that control or process personal data of 100,000 or more Virginia consumers annually (or 25,000 consumers if more than 50% of gross revenue comes from data sales). As a small independent insurance practice, AskSasson.com does not meet these processing thresholds and is not directly obligated under the VCDPA; however, we honor equivalent data rights upon request:

  • Right to access: You may request confirmation of whether we process your personal data and obtain a copy of that data
  • Right to correct: You may request correction of inaccurate personal data we hold about you
  • Right to delete: You may request deletion of personal data we have collected from you, subject to applicable legal retention requirements (including GLBA and state insurance recordkeeping rules)
  • Right to opt out: You may opt out of any sale of personal data or targeted advertising (we do not sell personal data)

To exercise any of these rights, contact us at the information provided on our Disclosure Center or via the contact information on our website. We will respond to verified requests within a reasonable time and in accordance with applicable law.

Federal Privacy Protections (GLBA)

AskSasson.com is subject to the Gramm-Leach-Bliley Act (GLBA) as a provider of financial services. Under GLBA, we are required to:

  • Provide you with a Notice of Privacy Practices describing how we collect, use, and share your nonpublic personal information
  • Implement reasonable safeguards to protect the security and confidentiality of your personal information
  • Provide you with the opportunity to opt out of certain disclosures of your nonpublic personal information to nonaffiliated third parties

We do not sell your personal information. Information collected in the course of insurance inquiries is used only to assist in providing insurance products and educational resources, and is shared only as necessary to process applications or as required by law.

Virginia State Corporation Commission (SCC) Bureau of Insurance

The Virginia State Corporation Commission (SCC) Bureau of Insurance is the state agency responsible for regulating the insurance industry in Virginia, licensing insurance producers, and protecting Virginia insurance consumers. If you have questions about your rights as a Virginia insurance consumer, want to file a complaint, or need to verify a producer's license, contact the Bureau of Insurance:

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Licensed insurance producer (NV #4185790 | TX #3460699 | FL #G322852 | AZ #22097825 | VA #1569892). Educational information only, not financial, legal, or tax advice. © 2026 Sasson Emambakhsh. All rights reserved.