Always review your policy whenever you have an important life change. Say for example, if you become a proud father, you need to re-calculate the child's healthcare costs and education costs and include the revised figures in your coverage.

A Term Insurance would give you the highest coverage for the lowest premium. So, you can invest the money left over in other investments like mutual funds and shares.

You can save your hard earned money by investing in a whole life insurance policy too. Hunt down something called "cash value policies" which come with low administrative fees.