Are there any kinds of insurance that I should avoid?

Are there any kinds of insurance that I should avoid?

Elliot Matloff (President and Broker, The Matloff Company) gives expert video advice on: What is the best way to get insurance?; What is the difference between an "insurance broker" and an "agent" and what can they do for me?; What do I do if I have a problem with my agent or broker? and more...

There aren't too many insurance policies that you should avoid, but typically I don't recommend people buying these life insurance policies that you see on TV. When you look at what they really are they're $5,000 life insurance policies that are very, very expensive and in today's world those policies are inadequate. There's also cancer policies that are typically duplicate insurance; if you have a good health insurance policy you probably don't even need these extra policies. Again, a good insurance broker listening to you, talking to you, finding out what your needs are will probably tell you whether or not you need to have a kind of insurance policy, so I would recommend having somebody give you some advice.