Starting new subscriptions with back issues rather than with the current issue. This can be requested by the subscriber or could be initiated by the publisher to increase circulation volumes within an ABC audit period
In the context of mutual funds, a feature allowing fundholders to use an earlier date on a letter of intent to invest in a mutual fund in exchange for a reduced sales charge, e.g. Giving retroactive value to purchases from the earlier date.
Backdating is where a policy will begin before the date the cover is issued. For example, you buy a car and want to insure it from yesterday, that is backdating. Backdating insurance cover is illegal. Backdating insurance is often associated with motor insurance. Motorists who have been driving uninsured and want cover as they have had an accident are usually the main culprits to try and convince their insurance company to backdate insurance, and for this reason it is illegal to backdate insurance cover. It is also illegal if an insurance company issue a covernote before the time of issue. So if you were writing a covernote now and issued it from yesterday that would be illegal.
The practice of making the effective date of a policy earlier than the present Some states may limit backdating to six months. Backdating is often used to make the age at issue lower than it actually was in order to get lower premium.
A practice by which an insurer makes the effective date of a life insurance policy earlier than the date of the application for the policy so that the premium rate will be lower. Also known as dating back.
Making the effective date of a policy earlier than the date of application. Backdating is often used to make the age of the applicant lower than it actually was at the time of application so that he/she can get a lower premium. State laws often set limits to this.
A procedure for making the effective date of any life insurance policy earlier than the application date. Backdating is often used to make the age of the consumer at issue lower than it actually was in order to get a lower premium. State laws often limit backdating to six months.
A procedure for making the effective date of a policy earlier than the application date. Backdating is often used to make the age of the insured at issue lower than it actually was in order to get a lower premium. Most policies can be backdated up to six months. Also referred to as Saving Age.
A procedure for making the effective date of a policy earlier than the application date. Backdating is often used to make the age at issue lower than it actually was in order to get a lower premium. State laws often limit to six months the time to which policies can be backdated. Backdating is not allowed to variable contracts due to the nature of investments.