There are few insurance policies as dedicated to safeguarding your life and the lives of your family and friends for a reasonable price as the group term policy. Yet there are still more ways to save on even this policy.

The main way to do this is through combined life insurance. The combined plan acts as a supplement to those already covered by their employer that aren’t comfortable with the level of coverage being afforded by their basic group plan. The group plans are made to cover a wide range of people, after all, and are not as fully comprehensive as they could be when it comes to specific matters of life protection. To be eligible for this combined plan you need to perform all duties on a full-time level (you’d have to be eligible for group insurance anyway).

What are some of the benefits, you ask? Well, first, if you discover that you’re terminally ill and only have a few months left to live, you can apply for a lump sum amount of coverage that will help out your family. This sum is a percentage of your basic combined group life plan plus any supplemental policy that you have. In other words, if you’re not likely to collect anything in time, you can get a quick lump sum of it. And second, you can get insurance that will cover you if you become disabled before your sixty-fifth birthday (retirement time, typically). Even if you can’t work the company will keep your insurance policy running until you hit sixty-five. Bear in mind that disability is anything that keeps you from doing your work and actively collecting a paycheck of any amount.

You need to keep in mind when getting these combined life insurance policies, however - as with any policy - that age affects your monthly premiums (even if they are only a couple bucks a month). The older you get the less you’re covered for. This coverage drops drastically by the time you hit 80 (less than 40 percent of the original value of the insurance certificate).