Insurance is the foundation of financial planning.
**Life Insurance**: This is for your family. It ensures that in your absence, your loved ones can maintain their lifestyle and pay off debts. Term insurance is the most cost-effective form.
**Health Insurance**: This is for you. With rising medical costs, a single hospitalization can wipe out your savings. Health insurance covers these costs.
**Do you need both?** Yes. They serve completely different purposes. One protects your life's value, the other protects your savings from medical emergencies.