2. Revisit Your Insurance Policies
Insurance is meant to protect you, not drain your wallet. Yet many seniors pay for coverage they no longer need or could easily reduce.
Take some time to review all your policies — life, auto, home, and health. Are you still getting the best deal? Could you raise your deductible to lower your premium? Has your lifestyle changed in a way that affects your coverage needs?
For example, if you drive less, your auto insurance should reflect that. If your kids are grown and financially independent, your life insurance policy might not need to be as large as it once was. Even small adjustments can add up to hundreds in annual savings.
