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Do you love someone enough to spend your hard earned dollars on a life insurance premium — month after month?

Because the real profit of a life insurance policy isn’t for you.  It’s for those you love… but after you’ve gone.

Life insurance policy is money paid to those who rely on you Right now to leave a secure standard of living.  They can lose this in a heartbeat.

Life insurance policy is money when needed the most… with no income tax or publicity.

Buying a life insurance policy is challenging because it isn’t an easy subject matter to begin with.

Most people get confused about how it works and whom they can trust enough to make the purchase.

And there’s a large number of companies and sales agents all clamoring for your attention.

This article will help to clarify a huge misconception about term life insurance. Also, I’ll introduce you to what many knowledgable professionals consider to be the best kept secret in a life insurance policy.

Buy term and invest the difference is a phrase touted by those … including many life insurance agents … who have absolutely no idea how much harm it’s implementation can cause.

The principle theory is you no longer need life insurance policy when you reach a certain age such as 55, 60 or 65.

Supposedly your kids have finished school and are doing just fine earning their own income. And you and your spouse are living comfortably on retirement savings and social security.

On the surface and to the naive, this might appear reasonable.

Now, it’s easy to pick apart this hypothesis, but let’s focus instead on the real problem with this scenario.

We are living longer than ever before.  We may not be enjoying it very much due to poor health but, nevertheless, we’re hanging on.

Life insurance policy companies know this better than anyone.  In fact, most of them now use age 115 has a factor when calculating life insurance policy policy premiums.

You hear about retirees who are forced to find work at McDonald’s or Wal-Mart.  Have you ever joined a seniors chat room on the Internet and witnessed the concerns most of them have about running out of money before they die?

Many of these seniors are frightened to death.  And what about the millions of babyboomers Right behind them.

An intelligently purchased life insurance policy policy can be the saving grace for those you love the most.

Now, let me set the record straight.  I have nothing against term life insurance policy.  For over 24 years I’ve personally sold millions of dollars worth.

What bothers me … and what I believe to be criminal … is when term life insurance policy is sold under false pretenses.

Let’s use a simple case.

A 35 year old nonsmoking male in excellent health can buy a $500,000 term life insurance policy for about $700 per year.

The premium is guaranteed to be $700 for 30 years.  Some companies will be a little cheaper and some a little more expensive.

The buy term and invest the difference advocate would compare this to a $500,000 whole life insurance policy policy at $3,650 per year.  Once again, some companies will be higher and some lower.

Theoretically, you have $2,950 to invest each year for 30 years.  I say theoretically because in the real world you would never consistently invest $2,950 each year.

Not the same way you would commit to a life insurance policy policy premium.

How do I know this?  Call it human nature based on lots of experience.

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These days insurance policy have been swarming the four corners of the United States. Whether we like it or not, insurance policy is a need. Why? There is no denying the fact that one disaster can have a devastating effect on a firm, a family and an individual. It can be damage, bankruptcy and death to name a few. What are the factors that we should consider and how can we know the insurance policy that we need.

CAR/AUTO insurance policy

One has to consider the purpose of owning it whether for personal use, for public transport use like a private taxi, or use for transportation of goods and industrial materials. Age is also a major consideration. Old vehicles pay a higher premium than new ones. The type and model of the vehicle has a major role also. When buying car/auto insurance online, there are sites that leave automated tools. They’re using an auto coverage analyzer where you have to answer a few question about your financial standing, automobile term, etc. From this information it will generate what category of coverage you need.

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In Part 1, we detailed the first five strategies on how to cut your car insurance costs. In Part 2, we show you the second five.

STEP 6 – Review, Change or Cancel No Fault & PIP (Personal Injury Protection)

No-Fault Coverage, and it’s Twin – PIP – started out as great idea’s. Your premiums were actually going to be lowered. Then, your State Politicians got involved (at the urging of insurance policy Lobbyists, of course) and mucked it up.

You see, no-fault insurance policy coverage was originally intended to have each individual’s losses, covered by their own car insurance company – no matter who was at fault.

Today, in many States, car insurance companies are making a ton of money on no-fault because the insurance companies convinced State law-makers to make “modifications.”

Today, because of the these changes, car insurance policy companies have actually used the no-fault laws to reduce payments on a claim made by a customer, instead of reducing car insurance premiums as it was supposed to do.

So, premiums keep going up-and-up and insurance companies end up paying less for claims – Someone’s getting rich on that deal….and it’s not you.

And to make matters worse, some States (with really, really talented insurance Lobbyist’s) also require an additional premium be paid on top of the no-fault premium. This beauty is called Personal Injury Protection (PIP).

PIP is a “wide-blanket” of coverage and can leave Collision Coverage, Hospitalization, Social Security Disability, Workers Comp, Personal Disability insurance policy & Life insurance policy.

The trouble with PIP and what it covers is….

You already gave most, if not all, of these coverage’s anyway, don’t you? So, you’re paying twice!

So, you need to do a couple of things:

Google “minimum levels of required auto insurance” to see if No-Fault insurance and/or PIP Is asked in your State;

Then, check your policy. If it’s not asked by your State to have No-Fault/PIP Coverage and it’s on your policy – cancel it. If No-Fault/PIP is asked by your State….take the absolute minimum. Here’s how.

If you must have No-Fault/PIP, ask for and get a deductible from your car insurance policy company.

STEP 7 – Cancel Medical Coverage

Medical Coverage, on most car insurance policy policies, is a promise to pay “reasonable” medical expenses for anyone who is riding in your car should you have an accident…as well as anyone in your car should it get hit by someone else.

Cancel it. You don’t need it.

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For most of us, Insurance Policy coverage represents a love-hate relationship. We hate paying for the premiums, but love having the right kind of coverage when it is needed. We realize that is important to have Insurance coverage, but just the thought of contacting different Insurance Policy agents, or researching different Insurance Policy plans, can not only be a scary experience, but incredibly overwhelming. Knowing what types of Insurance Policy are available, and making sure you have the correct coverage for your life’s needs is a task that should be given careful consideration.

Using the following suggestions, whether you are a novice or a veteran Insurance buyer, will help you to make critical Insurance Policy coverage decisions. First and most important, is to ask yourself the question; what kind of Insurance Policy do I need? There is auto insurance policy to protect yourself and others when driving. Health coverage is a vital issue to address, as well as life Insurance, disability and long-term health care. If you have a home, you need to protect your most valuable possession with home-owners Insurance Policy. There are many types of Insurance Policy for each of the categories mentioned. Asking the right questions can make all of the difference in deciding on the policy that fits you best.

Auto Insurance Policy

Auto Insurance is required in most states. You may not be required to carry full coverage, which includes collision, comprehensive and medical coverage; but you are required to carry liability coverage. Liability is the foundation of any auto Insurance Policy policy. If you are at fault in an accident, your liability Insurance will pay for the bodily injury and property damage expenses caused to others in the accident, including your legal bills. However, if your vehicle is damaged, the expense to repair it will not be covered without having a full coverage policy. Collision, comprehensive and medical coverage are for your benefit. Collision will commit for the repair to your vehicle, while comprehensive coverage will pay for damages to your car that weren’t caused by an auto accident. Medical payments coverage will commit for you and your passenger’s medical expenses after an accident. This coverage will commit no matter who is at fault.

Collision coverage is usually the most expensive part of a policy, you can choose a higher deductible, say $500 or $1000, and keep your premium costs down. If you have a newer vehicle and have a lien against it, the lending institution will require that you have full coverage. By working with a professional Insurance agent, the agent would be able to give you many cost saving suggestions that you could take advantage of to lower your rates, and still give you the coverage you need.

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How much do you pay for Car insurance every year?

Eight hundred dollars a year?  One thousand?  Two thousand?

Whatever the amount you’re paying now, you can slash that amount by more than 50% by simply following a few simple strategies.

Can you cut your car insurance costs by investing only 30 seconds of your time?  No, that can’t be done.

But if you’re willing to spend 30 minutes today, this week, or next, I’ll show you how to save up to $6,000 on your Car insurance over the next 10 years.

Okay, here we go.  Grab your Car insurance declarations page (the page in your policy that details all the coverage’s you’re paying for) and follow along.  Make sure you take some notes.  If you don’t have your policy, or can’t find it, call your car insurance company and get one – they’ll send it to you pronto.

STRATEGY 1 – Make sure you’re getting all applicable discounts for your vehicles safety features, such as:

- Front, Side or Head Curtain Air Bags;

- Automatic Seat Belts;

- Anti-Theft Alarms or Tracking;

- ABS or Traction Control….and many more.

Think about the safety features you have….and write them down.

STRATEGY 2 – Review & Change Deductibles For Comp & Collision.

Most Car insurance policies have two deductibles – one for “collision” (you hit someone or someone hits you) and one for “Comprehensive” (all other damage or loss).

For both of these, have at least a $500 deductible – preferably a $1000 deductible.

Here’s why – If you are currently paying a $100 – $250 deductible, you’ll save up to 40% per year on your monthly premiums by moving it to $500.  That implies if you’re currently spending $1,000 a year on insurance, you’re going to get to keep $400 every year.  If you jump to a $1,000 deductible, you could keep almost $600 extra a year in your pocket.

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