Renter's Insurance Take your homeowner's or renter's policy. Make sure your new silver, china, engagement ring, and other gifts are covered under your policy. Many companies require you to schedule these items individually or pay an additional fee to cover them under your existing policy. Many companies offer life insurance policies with investment options. An example of this is Nationwide's Competitive Term Life Insurance Policy with Investment Options.
Similar policies take accrued payments and invest the money in mutual funds.
The options and variables available are numerous and it's important to work with an agent to determine which policy best suits your needs. Dave Harr of Acuff and Associates, Inc. stressed the importance of updating your beneficiary designation. Often people forget to do this and in the event of death, the policy is paid to the person initially listed, usually a family member. While monthly payments increase with more extensive homeowner's and life insurance policies, with a little research and a few adjustments you can decrease your health care and auto payments. Most insurance agents agree that it's a good idea to combine your auto insurance policies.