I spend about $120 a month on AVIVA SAF group term life insurance which gives me about $1,000,000 of protection, this is the only insurance I have. Everything else is taken care by my passive income flow. This is the essence of buy term and invest the rest. Today, I received a letter telling me that I have just received a $570 rebate. I have received this amount last year which has effectively reduced my insurance expenses by a further 40%. Why is my insurance so cost effective ? Simple. I refuse to have an agent. No one can advice me better than myself. Compared to a commission-hungry advisor, I think that I can do better because there is no conflict of interest. If i am willing to pour my personal time into the study of money and investments, my own advice would be worth many times that of an agent ......