This Simple Trick Could Save You Hundreds on Life Insurance

You can pay to rewind the clock, at least when it comes to life insurance.

Backdating your life insurance policy can help you lock in a lower age — and a lower rate — before your coverage starts. While you’ll pay for a few months of “ghost coverage” upfront, the discount on your premiums stays with you until your policy ends. Over 20 or 30 years or even a lifetime, this can add up to significant savings.

Originally published on nerdwallet.com, part of the BLOX Digital Content Exchange.

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