[ale] I'm confused

[Michael Potter]

On Thu, Nov 18, 2010 at 11:48 PM, Chris Fowler
<cfowler at outpostsentinel.com> wrote:
>
> You can't sell insurance policies that cover the past.  It would be an instant win for the company.
>

Actually, selling insurance policies that are backdated is common.

The advantage to the customer is that they can get a lower rate
because the policy is backdated to before a birthday that gives them a
lower rate going forward.  The downside to the customer is they have
to pay extra premium up-front.