Life Insurance for Less
Term life insurance costs a third less than whole life, and is a better fit for most situations. "Most people only need life insurance while taking care of dependents and paying a mortgage, so there's no need to pay until you are 100 years old," argues Lee Rowley, co-author of Cheap Insurance for Your Home, Automobile, Health & Life. "Instead, buy term life insurance for the period you need covered, and invest the difference."