May 14, 2012 ... Backdating, by definition, is the practice of putting a calendar date on any document that is earlier than the date on which that document was actually written. In some instances, it's perfectly legal. In other instances, it's not. Let's look at how backdating affects different aspects of car insurance, health ...
Apr 7, 2015 ... It's a little unfortunate that the word "backdating" is used for this concept, because with some other insurance products backdating can be a very bad thing. 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 before ...
Mar 12, 2015 ... Life insurance policy backdating is a strategy used to save you money on your new life insurance policy. See how it works and if it's right for you.
Similarly, a person who wants to buy health insurance and make it effective beginning at a date prior to the current date. The insurance company may or may not allow backdating depending on the state where the person lives. If allowed, up to six-month backdating would apply as long as the buyer pays for that time period.
Backdated liability insurance provides coverage for a claim that occurred before the insurance policy was purchased.
Without car insurance, there is the possibility that you might not have been able to pay for this damage, thereby leaving the injured party without the compensation that they deserve or that they require in order to get back on the road. Likewise, insurance makes sure that you will be able to pay out for damage caused to the ...
Do you know anyone who has been able to save age in life insurance? If so, maybe you wonder what the heck they are talking about. Well, I am here today to fill you in on this super cool tip which may save you some money on your premiums. At Huntley Wealth we love a good deal and we sure are good at getting 'em!
Aug 23, 2012 ... Consequently, to avoid estate inclusion, the practice has developed of having the policy applied for and owned by a third party such as an irrevocable life insurance trust, or ILIT. Confusion arises, however, over the implications of backdating a policy prior to the effective date of the ILIT. Essentially, the ...
Jan 11, 2016 ... Answer: Backdating a car insurance policy is frowned upon by auto insurance carriers, not to mention considered insurance fraud in some states Opens a New Window. . No matter how long you shop around for a backdated auto insurance policy, no reputable and honest auto insurance company will offer ...