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Review life insurance and combine policies, personal finance columnist says

Shopping around for life insurance policies can save real money, a columnist reports

Life insurance policy costs can be cut with a few smart strategies, a personal finance columnist for the Detroit News said this week.

Brian O’Connor, the paper’s resident money expert, is trying to cut life insurance expenses as part of a bid to shave $1,000 from his family’s monthly spending. O’Connor talked to an insurance agent in Troy, Michigan, Ronald Ostezan Jr., who advised him to review his life insurance policy at least once every two years.

Changing family situations and shifts in financial needs are the best reasons to scrutinize a policy, Ostezan was quoted as saying.

And if a policyholder has a number of different term life policies, he may save money by combining those into one and shopping around online. O’Connor reported that his estimated savings ranged from $53 to $83 each month – not quite the $100 he had been hoping for, but substantial nonetheless.

Life insurance is something that few adults should do without. The more dependents an adult has, the more crucial life insurance becomes, experts say.

See how easy it is to shop online for life insurance. Get your free life insurance quotes today!

Posted: December 14, 2009

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