Life insurance is an essentiality in today’s time. Since, for the survival of life, one needs money for all day-to-day activities, thus life insurance protects one from any financial disaster that destroys the complete income of a family. In other words, life insurance provides one with security that if a certain part of family income or the complete income of the family is cut off because of death, then life insurance would provide funds that can look after the family needs and also replaces the services that otherwise the family member would have provided like child care and more.