As a professor in the field of finance, it is crucial to understand the potential risks and unethical practices that can occur in the insurance industry. One such act is when a life insurance agent persuades a client to cancel their current policy and accept a new one through misrepresentation of the terms. This not only goes against the best interests of the insured but can also result in financial harm. It is important for both agents and clients to be aware of this practice and make informed decisions when it comes to life insurance policies.