Disability and Life Insurance: Backdating Your Policy
When you apply for life or disability insurance, the rates are locked in base on your age.
For life insurance, your age is your closest age. As such, you change ages on your ½ birthday.
For disability insurance, your actual age is used.
If you are close to your age change or your policy is approved soon thereafter, you can request to have the policy backdated which means the company will set the policy date prior to your age change to lock in the lower rate. Your premiums would be due as of that date.