Earlier today, Google announced its plans to overhaul its current privacy policy and terms of service system in one month to a more simplified, central policy.

The web giant notes that it currently has over 70 privacy policies for all of its products, making it difficult to keep track of and follow for end-users. To solve the problem, Google will soon begin using a new main privacy policy that covers a majority of its products and explains how information is stored and collected. More than sixty (60) of the current policies will be consolidated into one. 

Google explains:

What does this mean in practice? The main change is for users with Google Accounts. Our new Privacy Policy makes clear that, if you’re signed in, we may combine information you've provided from one service with information from other services. In short, we’ll treat you as a single user across all our products, which will mean a simpler, more intuitive Google experience.

On the terms of service side of things, Google is also consolidating and simplifying into one giant Terms of Service that covers a majority of its products.  

Finally, the web giant notes that it won't be changing the ability for users to pick up their information and leave Google, as well as not selling personal information to third party companies. 

These changes will be in effect on March 1, 2012.