Insurance is a very interesting topic. Why do you buy insurance? Does everyone need insurance? Usually people don't think about this. Most of the time, the discussion is led by the financial adviser, cos basically, most people don't know much about insurance to even comment. So why DO you buy insurance? Insurance companies say to PROTECT. Sounds nice right. That's why some people mindlessly buy insurance. Cos they feel they are protecting something. Insurance is there to cover the estimated financial loss due to an incident. So when people buy insurance when they buy a car, they are protecting themselves against financial liability if they meet with an accident. Or fire insurance for the house, is there to cover the losses incurred if there is a fire in the house. So when we buy life insurance or term life insurance, what are we covering for? Losses due to the death or total permanent disability (TPD) of someone? What happens when someone ......