.How to reduce life and health insurance and still get compensated.

Life insurance premiums are low when a person is young and in good health. Term life insurance policies will compensate the survivor in case of  death, but  a lower premium has to be paid. Unlike universal life insurance, term life insurance does not offer tax benefits and returns on completion of  the term are not very good.

Many people in US do not have health insurance because of  high premiums. They can still receive compensation by the following methods:

1. Medicaid  pays for health expenses for  low income families. The maximum income level to be eligible for Medicaid varies from state to state, but persons who have low paying jobs can get health  expenses of  their family members reimbursed.

2. Medicare is available for persons who are sixty five years or older or if you qualify for social security disability benefits. 

3. Employers offer workers suffering from work related injuries, compensation under the state's worker compensation plan

4.If a person is changing jobs, he can take a short term health insurance policy for the period when he is unemployed. The short policies usually have a lower premium.

5. Some professional or trade organizations offer low cost health insurance to members. Like companies with a large number of  employees, they usually get a group discount from insurance companies.