Life Insurance is one of the most basic needs of an individual’s financial life. If he is earning and his parents, wife and children are dependant on him, he needs to buy Life Insurance. The dependants in the family do not need to buy life insurance cover for themselves. But what they need is life insurance money which is their safety net, in the event of the earning member’s demise. The purpose of life insurance is only one – financial protection of loved ones, not earning returns. So simple and basic to understand. Buy a term cover big enough which will take care of your family’s living expenses, their financial goals, outstanding loans, if any. Consider it as a mandatory expense just like you pay household bills. You never know when your family might need the money. Life is uncertain. Uncertainty is the new reality as we have seen in these pandemic times!