What is backdating?

[Expert]

I am looking to buy LIC policy and seleted one to cover my life. My agent suggested me to pre-dating the policy start date, he try to tell me that it is called as backdating in LIC, but this is still not fully clear to me. I wants to know two things -
1- Is it legal in India?
2- As I am saving premium, should I go for this?

Thanks,
VarunD

Your age is calculated as per nearer B' Day. If you date back your policy then your age would be taken as per nearer B'day. So the premium will be reduced.

Note -
DATING BACK CAN BE ALLOWED ONLY WITHIN THE SAME FINANCIAL YEAR WITH SIMPLE INTEREST.
TODAY IS 25th MAY 2009 IF POLICY HOLDER CAN ALLOW DATE BACK FROM APRIL 1st TO 24th MAY 2009.