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Fraud and Scams terms
Policy scams, faked deaths, murder-for-insurance and agents who cheat customers.
ChurningReplacing a client's policy or annuity with a new one, often from the same insurer, mainly to earn fresh commissions rather than to help the client.STOLIA scheme in which investors with no insurable interest induce someone to buy life insurance so they can acquire the policy and profit from the death.TwistingPersuading someone to drop or replace an existing policy by misrepresenting or leaving out key facts, an unfair trade practice under state law.