Our attorney, at least, had fairly decent templates for all. For the privacy policy it was a matter of seconds to finish that up. As for the TOS/EULA that was the time consumer. These tend to be more specific, or at least contain specific clauses, that apply only to the SaaS they are intended for. While many of the clauses are cut/paste, there are sections that are more specific. Our attorney time wasn't spent necessarily on the writing, as much as it was ensuring that all the bases were covered. He asked us a lot of questions and this was the time consuming part. I am sure some of those questions could be streamlined into a template. On the other hand, he knows that if a question does come up, we are going to come to him, and wants to ensure his butt is covered if something were to happen.