Get rid of BAD INSURANCE you do not need
Here is a quick list of personal insurance policies you might want to think twice about according to Gerri Willis:
1. Cancer Insurance
Because most cancer care is provided on an outpatient basis and also given that most cancer insurance only pays for the hospital care, you are just throwing your money away on this one.
2. Mortgage Life Insurance
Although there is peace of mind in knowing that if you are not around family are not going to be left with the mortgage to pay, these policies are generally 3-4 times more expensive than Term Life insurance. Which can be used to pay out a mortgage. (The average amount that is usually suggested covers all debts and 5-10 years income)
3. ID Theft Insurance
The ID theft resource center has never heard of a claim being paid out for ID theft. Usually people do not incur any out of pocket expenses. While they may lose on average $750. (That is no additional fees like legal, which is what the insurance sells as one of the benefits of taking it out)
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