Save on Life Insurance

If you're in a dual-career marriage, you can save about 20% by getting a "first-to-die" policy that covers both of you, rather than paying for two individual policies. First-to-die policies pay cash benefits regardless of which spouse dies first.

If you had a particular medical problem when you took out your life insurance policy, it's possible that your condition caused your rates to be higher than the standard rates. If that problem has improved or completely disappeared, ask your insurance agent if you qualify for lower rates. The lower premiums could leave you with extra money to pay other bills or open a savings account.

Some insurance companies add several dollars on top of the regular premium if you pay on a monthly or quarterly basis. If you can afford to make a single payment for your annual car insurance or life insurance policies, you may be able to save money. Ask your agent about any benefits for paying annually when taking out insurance.

If you want flight insurance the next time you fly, you may not have to pay a penny for it. When you buy an airline ticket, check if your credit card company provides accidental death insurance. This coverage is payable to your beneficiary(s) in the event that you are killed while on the airplane. Best of all, unlike the flight insurance available through machines at the airport, the coverage offered by the credit card company is often free.

It may be necessary to increase your life insurance coverage from time to time as the circumstances of your life change. For example, you may need more coverage when you get married, when you have children, and/or when you buy a house. The reason to increase your coverage is to provide maximum protection to your survivors if you should die and to allow all of the members of your family to maintain a comfortable lifestyle.