Before I list them, I'll want you to notice that the first three things I list increase the likelihood that you'll make a claim. That is the basis for calculating your life and health insurance premium.

1) If you smoke, quit smoking. Smokers are very high risk individuals as far as life and health insurance are concerned. There are organizations that are set up to help you. Even if you didn't have to talk about insurance, for your own good, it's a great project if you decide to quit smoking. Smokers are more susceptible to numerous terminal diseases. So, do yourself a favor -- Quit smoking. You deserve it.

2) If you are involved in a high risk sport like racing -- especially for fun -- quit. There are other ways you can get the rush. There are simulators that give you the same rush without all the risk.

3) If you have an occupation that is considered high risk, consider changing to another that is much safer.

4) Make sure you use life and health insurance quotes and comparison sites. Get as many quotes as you can and then compare them: Not just the price. Compare both the prices and the value you get. That way you'll be able to get the best price/value which is what I consider the only sensible savings.