Backdated Insurance Policy. But, situations come up all the time where you have to back date coverage. Aligned across canada 100% canadian owned, aligned is a.
The basic idea of backdating the start date of the insurance policy is to reduce the premium liability for the insured period pragmatically. Insurers may let you backdate your life insurance policy up to six months if doing so will give you a lower premium. Backdating in insurance language means altering the start date of the life insurance policy to a time earlier than the originally date of buying the insurance policy.