COVID has reminded us on financial protection in multiple ways from Job Loss or Salary cut, Financial shock due to sudden medical expenses or in extreme case of demise of sole bread winner of the family. We take protection in every part of our life from wearing helmets, seat belts, wearing face masks etc. Same way, we need to protect our near and dear ones financially. It is basic financial hygiene, we can't afford to ignore or miss it. First things first...take term life insurance(not your endowment ,ULIP ,Money back policies) till your 60-65 yrs of age and basic medical floater insurance apart from your employer provided .