A term insurance plan is a tool to help the surviving family members maintain the same standard of living. In a way, it ensures that there is a replacement of income even if the bread earner is not there to support.
Term insurance plans, the purest form of life insurance, can be purchased online either directly from the insurer’s website or by accessing the website of an Insurance Aggregator.
Health insurance is all about covering unforeseen medical exigencies.
If you are young and earning, there's a fringe benefit of buying a health insurance plan as well.
With the premiums being low, the insurance companies have become increasingly careful in offering the plan to customers whom they perceive as risky.
The answer is - Risk Management. For meeting long-term goals, one invests in various asset classes such as equities and debts, based on one's risk profile.