Human life is priceless but subject to risks such as death or disability. Under such unfortunate circumstances, the earning individual and / or their dependant family may suffer hardships due to loss of income as well as increased medical expenses. Such risks are unpredictable and may occur at any age or stage of life. Individuals can protect themselves against such risks through life insurance.
Though it is impossible to put a price on human life, one could determine a monetary value for which one should take life insurance cover based on the income they expect to earn over their working life.

Apart from the above, Life Insurance products also serve as an effective long-term investment vehicle to provide for various financial goals such as one’s own retirement, children’s future planning, etc. They inculcate a habit of disciplined savings and investments and are efficient tax planning instruments.