twisting
A
form of misrepresentation in which an agent induces a policyowner
to cancel an insurance policy and use the cash value
of that policy to buy a new policy. In
the process, the agent does not inform the policyowner of the differences
between the two policies
nor the financial consequences of the replacement. Twisting involves
a misleading or incomplete comparison of the policies to the
disadvantage of the policyowner. Twisting is a prohibited insurance sales
practice.
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