There has been an on-going battle in the life insurance industry involving term life insurance and whole life insurance. The industry has survived the battle but the consumer is still asking the same question. Which one is better? The question is flawed because these two policies serve two different purposes. The real battle comes over the concept of buying term and investing the difference or the purchase of permanent life insurance. The proponents of buy term and invest the difference surmise that the policyholder would do better investing the difference in premium costs that you save by purchasing a term policy rather than a whole policy. Permanent life insurance was never created to be an investment. It was created to take care of permanent life insurance needs. The cash value accumulation within permanent life insurance is an added benefit and not an investment feature. The best life insurance portfolio is a combination of both permanent and term life insurance.

Permanent Life Insurance – Permanent life insurance should be purchased for permanent needs. Final expenses and life insurance for retirement are two basic permanent life insurance needs. Life insurance at retirement is critical because it gives you more options to use your retirement benefits for income rather than life insurance.

Term Life Insurance – Term life insurance is for temporary needs. Term life insurance will compliment your permanent base of life insurance. Decreasing term and level term riders can be added to your permanent policy to take care of temporary needs like mortgage protection and short term debt.

It is important to understand why you are purchasing life insurance. You will be much more content when you establish in your own mind the reasoning behind the purchase. Do a little mini-need analysis. Think about what is important to you and who is important to you. Life insurance is a gift of love.

To get cheap car insurance in Michigan, you must first start with Michigan’s minimum car insurance requirements. After all, there is no reason to purchase cheap car insurance if it is not going to be deemed a legal amount of coverage.

With the exception of motorcycles and commercial motor vehicles, all cars in Michigan must carry no-fault insurance. You can not register your car in Michigan without first having no-fault car insurance. In a nutshell, no-fault insurance provides car insurance coverage for you, the policyholder. The other party involved is covered by his or her own car insurance company.

There are three kinds of car insurance coverage required by Michigan: personal injury protection (PIP), bodily and property damage (BI/PD) and property protection insurance (PPI). A car insurance policy in Michigan covering these three components is a basic car insurance policy.

None of these car insurance requirements provide insurance coverage in the event your car is damaged or stolen. In Michigan, you must purchase collision insurance coverage and comprehensive insurance coverage in order to insure your car in the event of damage or theft. Collision car insurance coverage provides coverage for damages to your car, while comprehensive car insurance coverage provides coverage for theft of your car or its components and contents.

Michigan drivers are able to get cheap car insurance when they opt to purchase only the PIP, BIPD, and PPI car insurance coverage requirements. Collision car insurance coverage and comprehensive car insurance coverage is not normally required of Michigan drivers unless they have borrowed money to purchase their cars and their lenders require those coverages.

Of course, there are many other ways to get cheap car insurance in Michigan without simply purchasing the minimum car insurance coverage requirements. Ask your car insurance company or agent about the various discounts for good drivers, good students, driver education course completion, and multi-line policies that they offer and whether you are eligible.

In a recent poll on backpackers.com 4 out of 5 backpackers said that they take out travel insurance when they travel.

But every insurance company seems to offer something different, and every insurance company seems to take a different approach. So with the rather wide and baffling variety of insurance policies out there, it can sometimes be hard to pick the one thats going to give you the best deal.

Knowing how hard you guys save, trying to make each hard-earned cent go just that little bit further, a number of Insurers have focussed their efforts on developing travel insurance products that are specifically geared towards the independent traveler. Good news right? Remember, at the same time, these companies need to make money, and so they need the total premium they earn to always exceed the amount in total claims they pay out. For this reason, you should always check the small print.

Naturally, buying travel insurance direct and cutting out the travel agent or tour operator can bring the price down substantially, as these middlemen tend to earn high commissions.

Here are a few things that you should check up on before buying a backpacker travel insurance policy:

¥ Are the Insurers accessible? Make sure there's a 24/7 medical emergency helpline, as this means you are always close to help, whenever you need it.

¥ Does it cater for working holidays? If you plan on working overseas, make sure that there is cover in place for the type of work you're likely to do, such as bar work, nursing, fruit picking, an office job etc.

¥ Are most adventure activities covered? Check to see if your policy covers EVERY sort of sports and activities you're likely to do, like bungee jumping, scuba diving and even tandem skydiving Ð the kind of spontaneous leaps we often don't plan but end up taking when traveling.

¥ Is there cover for terrorist acts? Terrorism knows no boundaries, and attacks can happen at any time, with innocent bystanders getting caught in the fray. In a situation like that, far away from home, it's essential to have backup. Make sure you have full medical cover in the event of such an attack.

If you can get cheaper premiums for your auto, health, home and life insurance policies then you could easily save a few thousands annually. Here are things you can do to reduce your budget without downgrading your coverage...

1. A third party only auto insurance policy almost means that you pay the least premium for any chosen insurance company. This option is workable only in states that put up with such at least as the minimum. Simply note that you'll not receive any compensation for your vehicle. It merely takes care of the third party's vehicle hence the name. You'll be expected to repair your own vehicle on your own. If your vehicle is old, this has to be your choice.

If, for example, you buy collision coverage for an old vehicle, your insurance company will merely reimburse you the value of your vehicle at the time of the crash. There is really no way the total of your payments over a significant time and your deductible won't overshadow what you'll receive as compensation. The exception to this being if your car is a classic. An insurance policy is NOT worth it if it doesn't pay you on the long run.

2. That extra weight will make you spend more in life and health insurance. An insured's Body Mass Index (BMI) is a serious factor that affects what an individual pays as life insurance rate.

A high BMI will always attract a higher premium all other things being equal. The more extra weight you have for your height and sex the higher your Body Mass Index rating will be. Put more effort into shedding excess weight since dropping as little as a few pounds could put you in another Body Mass Index rating and result in more affordable premiums.

3. Motion-sensitive lighting reduces your home's risk of burglary and, therefore, makes it easier for you to get cheaper home insurance premiums. Burglars naturally do NOT like to operate in any place they could be easily noticed or caught. Because thieves keep off from homes with such lighting, you lower your home's risk of burglary and, consequently, your rates.

4. Your co-pay can be more than your drug cost in few cases. Sometimes, it is better for you to pay for a prescription without using your health insurance. Determine which is best in each case and do what profits you more. Being careful enough to always check will let you make massive savings over time.

5. Get and compare quotes and you will get put yourself in a good position to get the best rate for your profile. Visit a minimum of five of such sites for the best results. It's free, quick and easy. You can get quotes that will have a range in excess of $2,000.

You could easily save that much by just going with the lowest quote. And, you should understand that since your chances of getting lower quotes are proportional the number of quotes you receive, the more companies you receive quotes from, the brighter your chances.