What Does Churning Mean?

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What does Churning mean? Read on to discover the definition & meaning of the term Churning - to help you better understand the language used in insurance policies.

Churning

Churning

The practice by which policy values in an existing life insurance policy or annuity contract are used to purchase another policy or contract with that same insurer for the purpose of earning additional premiums or commissions without an objectively reasonable basis for believing that the new policy will result in an actual and demonstrable benefit.

We hope the you have a better understanding of the meaning of Churning.

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