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Anonymous

28 Oct 2021

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Backdating of life insurance

Hi could anyone explain how does the backdating of life insurance work? Let's say I turned 30 years old on 31 March 2021and I would like to get life insurance today. Thanks a lot!

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Tan Siak Lim

29 Oct 2021

CFP. Director, Financial Advisory Group at Financial Alliance

It means the premium will be priced as if you have not crossed your birthday and did not become 1 year older. Backdating can be done for maximum 6 months only, so for your case, it cannot be done.

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