Should i consider backdating my term life insurance policy to slightly reduce my annual premium? Premiums will be about 5% cheaper per year. Any advice?

Factoring in the premium needed to be paid upfront for the months that have passed, it'll take about 8 years to be "break-even" on the savings.

The cover term stretches to age 80 so I have 47 years to go, so the savings would add up overtime. However, though the savings look very significant upfront and in todays' dollar value, considering things like inflation over time etc. is backdating worth it?

Thanks very much!