Contrary to popular belief, Insurance is not a one-size-fit-all financial product.
It’s beyond life, it’s beyond premiums, it’s beyond maturity values. Today Insurance can be customised to suit your family needs, well being and dreams.

It’s your life. It’s your family. Make it picture perfect.
It’s all about insuring the happiness and joy of a family against any adversity, because adversity could strike anytime. When adversity strikes is when you actually need Insurance, but it could be too late if its not a part of your investment plan today. However it will be prudent to be aware of the right reasons for buying insurance cover and demand the same from your investment advisor

Insurance for all
Your need for life insurance changes as your life changes. When you’re young, you typically have no need for life insurance, but this changes as you take on more responsibility, and as your family grows. Then, as your responsibilities once again begin to diminish, your need for life insurance drops off.

Let’s look at how your life insurance needs change throughout your lifetime.

The carefree school days
Childhood is typically a time of no worries, no cares, and no responsibilities. A child depends on others to take care of them, not the other way around. Thus, there is generally no need for life insurance at this point in an individual’s life.

The independent Singles phase
As a young adult, you become more independent and self-sufficient. You no longer depend on others for your financial well-being. But in most cases, your death would still not create financial hardship for others. For most young singles, life insurance is still not a priority.
Some would argue that you should buy life insurance now, while you’re able and the rates are low. This may be a valid argument if you are at a high risk for developing a medical condition (such as diabetes) later on in life. But you should also consider the earnings you could realize by investing the money now instead of spending it on insurance premiums.
If you have a home loan or other loans, your death would leave your dependents responsible for the entire debt. You might consider purchasing enough life insurance to cover these debts in the event of your death.

Your life insurance needs increase significantly if you are supporting a parent or grandparent. In this case, life insurance could provide continued support for your dependent(s) if you were to die.

The responsible Married period
Married couples without children typically still have little need for life insurance. If both spouses contribute equally to household finances and do not yet own a home, the death of one spouse will usually not be financially catastrophic for the other.
Once you buy a house, the situation begins to change. Even if both spouses have well-paying jobs, the burden of a mortgage may be more than the surviving spouse can afford on a single income. Credit card and other debt can contribute to the financial strain.

In order to make sure either spouse could carry on financially after the death of the other, both of you should probably purchase a modest amount of life insurance. At a minimum, it will provide peace of mind knowing that both you and your spouse are protected. Again, your life insurance needs increase significantly if you are caring for an aging parent and Life insurance becomes extremely important in these situations, because these dependents must be provided for in the event of your death.

The caring Parenthood phase
When you have young children, your life insurance needs reach a climax. In most any situation, life insurance for both parents is appropriate. Single-income families are completely dependent on the income of the breadwinner. If he or she dies without life insurance, the consequences could be disastrous. The death of the stay-at-home spouse would necessitate costly daycare expenses. Both spouses should carry enough life insurance to cover the expenses that would result from their death.

Dual-income families need life insurance, too. If one spouse dies, it is unlikely that the surviving spouse will be able to keep up with the household expenses and pay for childcare with the remaining income.

The peaceful Retirement moments
Once your children are grown, your life insurance needs decrease. You’ll live off your retirement savings, and hopefully you have accumulated assets that can be passed on to your heirs when you die. You may need a regular monthly income and continue the insurance cover, which would take care of your medical expenses.