New Delhi, Aug. 22 -- In today's rapidly changing world, having basics in check is a vital aspect of proper financial planning. Basics such as a well-planned health insurance policy, term insurance policy, emergency funds and a long-term savings plan have become vital for a secure future. Focusing on these aspects can ensure that an individual leads an objective and meaningful life sans financial worries.

This often raises several fundamental questions, such as: Should an individual invest in separate term plans for themselves and their spouse? How should term insurance planning be focused upon and tackled in the larger scheme of long-term financial planning? Is it at all important?

It is vital to keep in mind that life insurance planni...