Ensure You're Insured

To make sure you are insured when you need to be:

1. As painful as it may be, read ALL of the terms of your policies. Pay particular attention to any exclusions and the grounds for termination. (In the Smith's case, the bill did say you must be an NEA member to maintain coverage—a line she missed.)

2. Know the details of your spouse's policies as well as your own. You may end up as the decision maker or bill payer.

3. Before you change jobs, find out whether your job-related policies and investments are portable. If they're not, ask how you can roll them over or switch to a non-group plan.

4. Keep copies of all legal documents, even application forms, forever. Insurance policies, investments, and even mortgage agreements, can cover decades. During these long expanses of time, underwriting companies can be bought and sold and often lose their copies of your agreements. Keep them in a fire-proof vault or in a bank safe-deposit box.