The insurance industry is a big business. If you have ever seen the headquarter buildings for large insurance companies, it is very evident that the business is very profitable one. Insurance firms are constantly coming up with new insurance products. Often, these products are ones you don’t really need. By canceling unnecessary insurance policies, you could potentially save yourself a lot of money. Consumer Reports has identified 10 types of policies a person does not need. If a 25 year old, who had each of these types of policies decided to instead cancel them and invest the savings, this decision could be worth over 5 million dollars. Click on the links below to determine how you could save.
- http://articles.moneycentral.msn.com/Insurance/AvoidRipoffs/10kindsOfInsuranceYouProbablyDontNeed.aspx?page=2 is another article that identifies, even more, types of insurance you could likely do without.