value of life

I value it very high. My company pays for my life insurance. They cover me upto 10 lakh rupees. In addition to this i also took another life cover for 10 lakh rupees

Life insurance is for your dependencies, eg. your family. If they depend on you financially for their livelihood, and you are suddenly not around tomorrow, how will they continue to live as before, financially speaking? That's where life insurance comes in, because your dependencies will get a payout and that will certainly help them continue living. Worse is if you do not die but are disabled perhaps due to an accident, and you continue to live after the accident but cannot earn a living and support your family. They will not only have to take care of you, but all of you will be worse off financially. Usually life insurance covers disability too, and this will most definitely help in such situations. I think you agree under the above circumstances that there is value in life insurances. You will definitely appreciate it if you are afflicted by such situations in your life. I believe in it, and have some too to protect my family.

I haven't got a life insurance for myself but i have applied for my parents though...