If you're paying for health and life insurance in your workplace, don't assume your plans are cheaper and better than what you'd find if you insured yourself. This isn't always the case.

Employees should always shop around before buying all the workplace benefits.

If you are older or not in the best of health, your employer's plan is most likely the best way to go, because you won't have to undergo any prior medical testing and you usually can't be excluded because of your health.

But young and older healthy workers may actually find better deals by shopping around on the internet. Check out www.insure.com, www.insweb.com and www.ehealth.com.

As for specialized policies, although sales of cancer and critical illness policies are growing, these policies are often too specific to be worth the money.

A good comprehensive policy should be enough for most employees.

Also, be sure to price term life insurance outside the company, before you sign up.