Last reviewed June 2021. Product structures and categories may have changed since — worth a sanity check against a current source. Fix this pageLifeIn this sectionLife Insurance: What it is exactly? Term cover or life cover, that replaces your income in the event of demise; to help protect your dependents. Read along to understand what factors to keep in mind when buying a term cover.How to Evaluate Life Insurance Needs Decide on a cover for your term insurance that works for you as the one paying premium every year, and works for your dependents who should receive a large sum if something were to happen to youULIP - Unit Linked Insurance Plan An opaque form of investment, that's costly for you, and doesn't adequately cover you. More importantly, you cannot exit if you choose to, not until maturity.Some FAQs on Life Insurance Commonly asked queries on term / life insuranceLinks to Answers related to Life Insurance 'External links, to common queries and responses, regarding term or life cover'