While no insurance policy can replace the emotional loss of a loved one, life insurance can help protect the family from the financial consequences.

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But do you really need life insurance when you're young and single? When is the right time to buy a policy? What happens if you stop paying your premiums? And what if you survive the entire policy term?

We put these common questions and more to Sunjay Anand, AVP at IndusInd Nippon Life Insurance, who breaks down life insurance in simple terms and addresses the doubts many first-time buyers have.

Watch the full conversation before making your next insurance decision.