Opt for a higher deductible

Yes, choosing the high-deductible plan can be risky—after all, if something catastrophic happens, you could be hit with huge out-of-pocket costs. But, according to Kelsey Allan from TermLife2Go, “if you are relatively healthy and don’t anticipate lots of doctor visits in a year, you can increase your deductible in exchange for a lower premium. That can save a lot of money.”