Let’s look at some advantages of backdating insurance policy.
If you're in one of those areas and feel you're getting this message in error, give us a call at 1-800-ESURANCE (1-800-378-7262).Suppose you bought a policy on 5th August 2013 but end up realizing later; had you purchased the policy two months earlier, you could have got it at better premium rates. You can request your insurer to change the official start date to 4th June 2013.This back-date policy will reduce the premium liability for the insured during the policy tenure.Take auto insurance, for example: if you backdate your car insurance policy so that it says you were covered for an accident you had the month Life insurance is different because by making your policy retroactive by a short period, the insurer isn’t taking on any more risk.It’s unlikely that you actually died last month and are faking being alive today so you can cash in on a death benefit. The reason has to do with your age and how it affects the price of your new policy. Your insurance company may use something called your “insurance age” or “insurance birthday” when processing your application.