Are you married? Have kids? Have parents with meagre pension? If your answer is yes to any of these questions, your money box needs to have a life insurance cover. As an earning member, you need to insure yourself so that your dependants can maintain the same lifestyle even when you’re not around.
While many have insurance, the decision to purchase is often influenced more from a tax-saving perspective. And what gets sold are bundled products with little insurance and sub-optimal investments.