India, July 31 -- Many Indian households still rely on a single income source to support the family. It could be a salaried employee supporting a homemaker, elderly parents, or the education of children. Basically, the overall prosperity of the family depends on a single source of income. Under such a situation, the sole breadwinner's untimely death can ruin a family both emotionally and financially. Term life insurance becomes especially important at this juncture.

With only one individual earning an income, households are particularly vulnerable to unwarranted life changes.

* No Backup Income: The loss of the single breadwinner may sever the household's main source of financial sustenance.

* Outstanding Loans: Mortgage, education, or...