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The legal necessity for documentation applies only to certain types of transactions.

The types of transactions that must be in writing are based on legislation that traces back to the Statute of Frauds (1677) UK.

The request must be on the Department's application or registration form and must contain name, address, and a valid signature.

The applicant must submit a signed and completed application form to complete the application process.

With life insurance, as your age goes up so does your premium. (Not every insurer does this.) The insurer will look at the midway point between your birthdays and round your age up or down depending on which birthday is closer.

For example, if you turn 35 around the time you apply for a new policy, you could end up being charged a slightly higher premium for being 35 instead of 34. With a little planning you can surely avoid mixing your birthday up with your life insurance application. For example, if you turned 34 on January 1st and you apply for insurance on July 4th, you might be considered 35 on your insurance application even though your next birthday isn’t for almost 6 months. In the example above, you might be able to get a cheaper premium if you backdate the start date of the policy to June 4th, because then your “insurance age” will be 34. You’ll have to pay the premium for those weeks or months that are now part of your newly backdated policy.

When it comes to life insurance, insurers will let you backdate a new policy a few days or even months, if by doing so you can get a lower premium.

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.

Typically this is where parties have reached an agreement and must wait while their solicitors properly document that agreement.

is submitted and all eligibility requirements are met, with the following exceptions.

For these exceptions, begin dates are the date a valid application is submitted, all eligibility requirements are met, and: All pregnant women, except those eligible under the Badger Care Plus Prenatal program, may have their eligibility backdated to the first of the month, up to three calendar months prior to the month of application.

But because of how insurers determine age, there can be up to a window when the insurer considers you 35 even though you’re still 34. When you’re deciding whether it’s worth it to backdate or not, be sure to factor the extra premiums into your calculations.

It might be a year or two before you see any savings, so if you’re not planning on keeping the policy for longer than that it may not be worth the trouble.