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
The practice of inducing a policy owner in one company to lapse, forfeit, or surrender a policy for the purpose of taking out a policy in another company It is a crime in all states and is typically classified as a misdemeanor
Practice of inducing a policyowner in one company to lapse, forfeit or surrender a life insurance policy for the purpose of taking out a policy in another company Generally classified as a misdemeanor, subject to fine, revocation of license and sometimes imprisonment
The practice of inducing by misrepresentation, or inaccurate or in-complete comparison, a policyholder in one company to lapse, forfeit or surrender his insurance for the purpose of taking out a policy in another company
In life insurance, inducing an insured through misrepresentation to drop an existing policy in order to take a similar policy from the selling agent Twisting is cause for license revocation in most states and is an offense that is against the law in many states (See also: replacement )
The practice of inducing by misrepresentation, or inaccurate or incomplete comparison, a policyholder in one company to lapse, forfeit or surrender his/her insurance for the purpose of taking out a policy in another company
{i} winding, spinning; spinning of twine; rotating; revolving; distortion; overtrading, churning (Finance); use of deception to encourage clients to change life insurance companies
Excessive trading in a client's account by a broker seeking to maximize commissions regardless of the client's best interests, in violation of NASD rules, also called churning or overtrading
Illegal practice of inducing a policyowner to drop an existing policy in one company and take out a new policy in another through misrepresentation or incomplete information
Practice of inducing a policy owner in one company to lapse, forfeit or surrender a life insurance policy for the purpose of taking out a policy in another company Generally classified as a misdemeanor, subject to fine, revocation of license and sometimes imprisonment
Illegal activity in which an agent convinces a prospect to cancel existing insurance and buy another policy from the agent, to the detriment of the prospect
marked by repeated turns and bends; "a tortuous road up the mountain"; "winding roads are full of surprises"; "had to steer the car down a twisty track"
An illegal insurance sales practice, in which a sales agent misrepresents the features of a contract in order to induce the contract owner to replace his current contract, often to the disadvantage of the contract owner See also misrepresentation
an unfair trade practice, in insurance, whereby an agent or broker attempts to persuade a life insurance policyholder through misrepresentation to cancel an existing policy and buy a new one
Twisted or plyed yarns are composed by two or more yarns twisted together Many different effects can be achieved through twisting The degree of twisting put on the yarns when woven can result in soft and fluent fabrics, or in fabrics with increased body and structure
The act of, or attempt thereat, which induces a policy owner, by means of misrepresentation, to drop an existing policy and take another Note that it is the misrepresentation that is illegal, not the replacement of one policy by another (LE)