Your income helps to provide for the needs of your family as well as long-term objectives like career progress. You must make plans for extra sources of income as the family's major wage earner in order to pay current and future expenses.

If you're married, your retirement plan is probably based on the financial contributions of both you and your spouse. A life insurance benefit can be used by them to assist safeguard their future.

For instance, the absence of a stay-at-home parent may result in higher costs for child care, food, and other household expenses. You can pay these costs out of the proceeds of a life insurance policy to maintain the standard of living for your family.

You can have debts related to your home mortgage or credit card bills. If you pass away, your family will be liable for the EMI payments. With the earnings from your life insurance, they can pay off such debts while keeping their money secure.

The future safety of one's children is the main concern of any parent. Your absence, though, can affect your children's academic performance and employment prospects. Fortunately, a family protection plan may pay for both their college costs and other life milestones like marriage and business startup.

Products for protection insurance that let you save money can aid in wealth creation. The maturity funds can be used by you and your family to finance investing objectives like buying a house or starting a retirement fund.