#INSURANCE TWISTING

[insurance-professionals-arizona]

WHAT IS INSURANCE TWISTING? | Insurance Professionals of Arizona

When you’re shopping for insurance, you want to find the balance between the right coverage level, a deductible you can afford, and reasonable premiums.

No one wants to pay too much for premiums, but they also don’t want to be stuck with an affordable roof repair after the monsoon season. It’s why many people shopping for insurance turn to an agent to help them choose a policy.

Unfortunately, some agents engage in an unethical and usually illegal practice called insurance twisting. If you’re concerned about getting the best deal on your policy, you should learn about insurance twisting and how to protect yourself from it.

What is insurance twisting?

Insurance twisting is when an agent convinces a policyholder to drop their existing policy and take out a new policy that isn’t in their best interests. Some agents earn commissions on their policy sales and could be motivated to increase their commissions by selling someone a policy that they don’t need.

What defines insurance twisting?

Simply convincing you to replace your homeowner’s insurance policy with another isn’t insurance twisting. After all, you probably went to an agent to get their help in shopping for a new policy. You might be refinancing, or adding an addition, and it’s simply a good time to review your existing policy.

For the sale of a new policy to fall under the definition of insurance twisting, the agent must have engaged in deception to sell the policy. The “twist” the truth, and you end up buying a policy that isn’t a better replacement for your existing policy. Another aspect of the sale of a new policy that makes it twisting is if a higher commission or profit motivates the agent, not your best interests.

No matter the motive, if an agent sells you a policy and is twisting the truth, you won’t buy the best policy for your needs. To qualify as twisting there must be an element of deception, where the agent misleads the policyholder.

Examples of Twisting in Life Insurance

What would be an example of agent insurance twisting with your life insurance policy?

Let’s say you bought a whole life policy that’s accrued cash value.

Whole life insurance, or return of premium insurance, is more expensive than term life, and maybe the premiums have grown too high for your budget.

You’ve contacted an agent for help selecting a cheaper policy that still protects your family.

The agent convinces you to cancel your whole life policy and purchase term life. This will save you money in premiums, but what they don’t tell you is that you’ll either forfeit the cash value of your whole life policy or pay taxes on it. Those taxes could wipe out any premium savings.

Reputable agents will explain the pros and cons of every policy change that you’re considering, including any tax implications. They won’t leave out details to make a sale.

Examples of Twisting in Homeowners Insurance

Homeowners insurance can be confusing – does your policy cover a detached garage or outbuilding? What about your new pool, do you need to increase your liability coverage?

An example of twisting in homeowners insurance would be if you built a new garage and called your agent to ask if it’s covered. If they say it’s not, and tell you that you must add a rider to your existing policy, when it is covered, that would be twisting. Note that you may need to increase coverage if the new garage has a much higher replacement value, but that’s not the same as telling you it’s not included in your existing policy.

Examples of Twisting in Health Insurance

Health insurance coverage can be expensive. Even if you want to reduce your premiums, if your health insurance doesn’t cover all your conditions or medications, switching coverage could be disastrous.

If an agent sold you a policy and purposefully didn’t tell you that your new policy excluded one of your pre-existing conditions, that would be twisting. Purposefully concealing information to close the sale is both unethical and often illegal.

What is “churning?”

Along with twisting, churning is another unethical practice that an agent might do to sell a policy. Churning is when they convince you to buy a new policy with the same company as your existing policy. Again, the new policy must not provide better benefits or have other pluses to it for the sale to count as churning. Selling it simply lets them collect an additional, larger commission than a renewal.

What is “sliding?”

The third unethical component of insurance sales is called “sliding.” It’s a less-obvious part of the insurance sale because it doesn’t consist of selling you an entirely new policy. Instead, it takes the form of riders and addendums.

With sliding, an agent might sell a policyholder on additional products or coverage that they don’t really need. An example would be selling you a rider for high-value jewelry when your core coverage limits would pay for its replacement cost.

An insurance commissioner would also consider sliding to be if you didn’t authorize the addendum or you thought that the rider wouldn’t increase your premiums.

Protecting Yourself from Insurance Twisting

How can you protect yourself from insurance twisting?

First, watch out for the hard sell. If your agent is pushing one policy, or a policy change, hard and making you uncomfortable, they might not have the best motives. Ask for more details.

Second, get all the details. Good agents know that education is part of their job. They should be willing to explain the pros and cons of your policy selections. If you ask why you need higher coverage limits for your car, they should have a good answer ready.

Third, ask for time to think about the policy change and review the disclosure statements. If the agent appears reluctant to give you the information in writing or allow you time to consider your options, walk away.

Signs of Insurance Twisting

What else should you look out for if you’re shopping for a new policy?

Typically, a major life event will spark the need to review your existing policies. You bought a new house or car, had a baby, or took a new job. If an agent is recommending that you make a policy switch when nothing in your life has changed, it’s a red flag.

Premiums serve to buy protection, and a higher premium often (not always) correlates with a higher coverage level. If a replacement policy would give you better coverage or the same coverage for lower premiums, it’s probably a good deal. But if the premiums are shockingly low and the agent is making tons of promises, it could be twisting.

Does the comparison appear incomplete? When the agent compares your old policy and the policy they’re selling you side by side and something is missing, it’s a warning sign. Do you not see the deductible? What about the coverage maximums? Is something shown on one side of the equation, but not the other? Beware incomplete or mismatched disclosures.

Lastly, what commission will the agent get if you buy the new policy? You have the right to ask. Good agents know that their commission reflects the time and effort they put into helping you find the best policy and that satisfied clients value their expertise and are willing to pay. While some people simply don’t feel comfortable discussing money, if they duck the question or hedge their response, take note.

What Does the Law Say About Insurance Twisting?

The insurance industry is heavily regulated, with laws and codes of professional conduct that dictate how agents can behave. If an agent is found to have broken a law or violated the code of conduct, they can lose their license.

Generally speaking, your insurance agent must act to protect your financial well-being. They cannot sell you a policy that’s against your best interests. They also must give you comprehensive information to make the best choice.

Agents can’t lie, mislead, or misrepresent a policy, and they definitely can’t recommend one policy over another based on their commission. Giving questionable advice or breaching their “duty of care” is an act of bad faith with serious consequences. The consequences alone offer you a measure of protection.

How do Reputable Agencies Guard Against Insurance Twisting?

The National Association of Insurance Commissioners created model laws that they encouraged states to adopt. Even if your state doesn’t require them, ethical agencies have put these policies in place.

To guard against insurance twisting, an agency must have a robust internal review process when someone is switching policies. A supervisor might have to monitor and sign off on a policy switch. At InsuranceProAZ, all policy changes undergo review.

Other protections include a 60-day cooling-off period. Within 60 days of purchasing a new policy, policyholders can change their minds and get their premiums back. The agency will also restore the old policy. This disincentivizes a hard sell where the policyholder might walk away, have time to think and realize they didn’t make the best choice.

Ethical agencies also provide disclosure statements with detailed information about both your old and new policies. This helps you make your comparisons. You’ll be asked to sign a disclosure statement acknowledging that you received them.

What to Do if You Think You’ve Been Twisted

Protections exist to help consumers who think they’ve been twisted. Before taking action, talk to an agent you trust and ask them to review your old and new policy. Most agents are eager to earn your trust and want to maintain the industry’s reputation, and will review your policies for signs of fraud.

You can report the insurance company to the state’s Department of Insurance. They will investigate and could require the company to correct the problem. Agents who are found guilty could pay fines and lose their licenses.

The state’s insurance commissioner can press charges against them, but they don’t represent individuals. Any lawsuit the state insurance commissioner files would not compensate you, so if you want to seek financial redress, speak to a lawyer about direct representation.

The Final Word on Insurance Twisting

The reality is that the majority of agents want to help their clients. They’ve seen firsthand how important insurance can be in someone’s life – whether it’s protecting a business or repairing a roof after a windstorm. That, combined with laws and regulations, means that you probably don’t have much to worry about when it comes to insurance twisting.

But you can further protect yourself against fraud by working with a highly-rated agency that’s received numerous awards and been in business for over 15 years. All of this speaks to their trustworthiness and satisfied customers. Contact an agent at InsurancProAz to get a quote today.

We’re here to help! Call us today. 480-981-6338

[dnpbeats]

how many times do you think phil lester clumsiest person alive has smacked the back of his head on the bondage bar 😔

[nerdymariamania]

As someone who's been a Team Starkid fan since the beginning, since 2009... do the young fans who only know hatchetfield know the old lore?? Do you know about crying in the choir room?? Do you know the door gag? Do you know Liam's got a phone call? Do you know about the iconic accidental sing along SanFran Con appearance? This isn't me being elitist or anything, I genuinely want to know! I just feel so very much older than all of you, all the time. Does anyone remember Tanya and her gay little blonde bob???

[suntails]

B&W

[doulayogimama]

My SIL has been raving about a RX drug for nausea during pregnancy since I was pregnant with Sky. My doctors at the time told me no. I was too stupid to push them, thinking they knew best.

Dumb, sadistic fucks. My SIL found her old bottle from her pregnancy last year. You can take up to 3-4 per day. I took 1 today and my life feels forever changed. If I could truly have an experience where I only get sick every few days instead of 12x per day… that would be a miracle. I can’t even imagine the miracle of not getting sick at all but I guess it’s possible.

I was down all day yesterday. I couldn’t stand for more than 10 minutes, took my first pregnancy nap (I don’t nap). Today I felt the same so my SIL went to rummage through her stuff. It’s been 4+ hours since I took 1 pill and I still feel 90% better than yesterday. I got to be outside with the kids and play a bit with them as they ran around the yard in bathing suits.

This is AMAZING. Thank you, drugs. 🫶🏽

[mermaidfanficlibrary]

Do people realise that if they have glasses, braces, take meds or any form of medical thing that helps them they would get screwed in Twisted wonderland? But like only if you get teleported there. Because like there is no way for you to get any form of help with those especially not for free. And with the braces theres no one there to tighten them or anything. And with the meds, depending on what they are, no one could function like they would want too. The glasses are more of a safezone unless you break them.

This is coming from someone who has glasses, takes meds, and has braces.

This is just a thought I have

[spherekuriboh]

the difference between the triumph in 'i found you!' and the shame in 'you've found me.' is proof enough!!!

[nblemons]

thinking about the airplane extras

[theoneofmanyofficial]

A different version of a scene I wrote in my fanfic (and yes, all the events did happen in the fanfic's timeline):

[Note: Everyone already graduated from NRC. They just hang out with each other once in a while.]

Jade, about how much food (with mushrooms) he made: I was so inspired that I made too much

Grim, suspicious: How much is too much? It's not another three months of mushrooms again, is it?

Ace: Three?! More like a year of mushrooms!

Deuce, still having nightmares about it: Mushrooms for breakfast, lunch, and dinner every day for three months. Even asking Epel, Jack, and Ortho for backup wasn't enough to finish all of them

Idia, in the background: ...So that's why Ortho was insistent on making me eat mushrooms

Grim, upset: Sebek didn't even answer his phone once!

Sebek, angry: Because the last time I answered any of your guys' calls, Ortho almost blew me up when I arrived!

Ortho, scolding: That's why we told you to enter through the back door, Sebek!

Sebek: WHAT BACK DOOR?! You people were in the middle of the ocean!

Jack: Good thing Ruggie and those kids were happy to take all those mushrooms off our hands.

Ruggie, proud: And we ate real good that week!

Jade, sadly: Did I not make enough? I would have made more if Floyd didn't throw me out the window.

Floyd, glaring at Jade: And I'll do it again!

Jade: No, I definitely didn't make enough

Azul, barging into the room at max speed: I think you made quite enough, Jade!

Silver:

Silver, knowing they had his number and could contact him for any reason:

Silver, realizing he never told any of them that he enjoys eating mushrooms: :')

[parin-gurumin]

Although I don't particularly care about popularity or receiving attention, due to the nature of how my experience on twitter has been like these past few years, I have always enjoyed the Tumblr experience far more than any other platform. People are far more likely to interact by means of overall reblogging and adding comments in the tags, it's very sweet and motivating.

I came back to homestuck after A DECADE because of me having a rough, mentally and emotionally draining week because my impulsive thinking was like, "Hey man, fuck it, how far into Homestuck do you think I can read before I get help. (from discord support for context)" I had never actually read it when I was a kid because I just didn't have the attention span and willpower to read through SO much dialogue. I only ever interacted with it by means of just celebrating it as a fan who never actually read it, but liked it nonetheless. Of course now that I am a grown ass adult who can make their own conscious decisions and actually has the time and whatever to actually both appreciate AND enjoy reading extensively I am enjoying homestuck way more than I ever did before. I know that because of the death of flash (fuckin rip, dude, AWFUL) and extensive information about Hussie (TO PUT IT LIGHTLY) have since made getting into the comic a bit of a hassle and a choice it makes me wish I had actually read it at its best performance.

But, back on topic, twitter and other socials have the tendency to be particularly attached to trend hopping and sticking with what's currently doing numbers. Because, again, I don't care about dabbling in trends I just do what I want and ultimately that causes people to just not care about what I create. I have grown very apathetic towards my art and due to academic trauma from having been in a private art college with a low acceptance rate I have been in art burn out hell for literal years. The mix of both nobody caring about my art and my own rocky broken relationship with art made me extremely unmotivated yet long for the joys of creation once more.

Whenever I post here specifically it brings me joy again, it makes me realize that YES PEOPLE ACTUALLY DO CARE ABOUT AND ENJOY WHAT I MAKE NO MATTER WHAT IT MAY BE AND ITS CURRENT POPULARITY. I'm very happy seeing the same faces in the likes and/or rbs for my posts. I'm very happy seeing the same person revisit and reblog it for a second time or more. I'm very happy with how close and genuine it feels. (in a non-parasocial way) I'm just glad that despite this site being in a perpetual state of uncertainty, run by a skeleton crew, functions like shit, current CEO is a moron and the site is set to sail until it dies naturally it became the most genuine feeling of the social platforms ESPECIALLY for art.

I know this has gotten very longwinded and is essentially chaotic practically emotional rambling but like, thank you!!!!!!!!!

I have more stuff to come and from the bottom of my heart genuinely appreciate everyone's support here, it actually means the world to me. THANK YOUUUUUU!!!!!!!!

MY OLD ART BTW!!!!!! anything that's not in that small 2021 corner is 2013-early 2014

[hobbinch]

Aughhhhughhg my primary care dr was super onboard with the idea of me getting a power chair, and told me I'd hear from a case worker who'd help me along with the next steps. Heard from nobody. When I reached out about that I was just given the contact info for a medical supply company??

So I don't know if there's someone supposed to help me figure out what equipment to ask for and help me negotiate with insurance/the supply company. Or if I'm just supposed to talk to them myself like I've been doing with my CPAP machine (nightmare). Like on one hand fewer people in the way means fewer potential gatekeepers doubting my level of disability, but also potential advocates??

The supply company has abysmal reviews on google, people talking about getting ghosted and waiting years for their chairs. So there's also that. What if... Things were easier....

[violentdevotion]

my mum out of nowhere threatened to check my bank account bc 'girls your age are saving money for their wedding' 😃 let's be so serious right now

[thatfanfictionchick]

Floyd would be the one to do it, though.

They'll have matching tsum plushies and keychains and graphic tees on sale within the hour.

It's fine he probably doesn't need that hand anyway

Because then it wouldn't be funny?

Azul's "better plan" is for the tsum to work at the lounge under Floyd's supervision 🤦‍♀️ IN WHAT UNIVERSE IS THAT A BETTER PLAN, AZUL?!

[opens-up-4-nobody]

...

[infernalembrace]

Idk everypony I’m beginning to think it’s probably not normal that I experience extreme agonizing stomach pain on a daily basis

[youremyonlyhope]

That natural hair struggle of having your hair in a protective style for a while, then taking it out and instantly being tired having your hair be loose.

I’m literally like 2 seconds away from going back to my salon and getting box braids this time.