What are the merits and demerits of life insurance?

Life insurance is firstly security for family, it is savings indirectly and now it is not just only insurance and also MF like funds management. Insurance can get all these along with insurance. With different schemes for all age group insurance is the best often without any worry.

Merits:

Your family continues to lead a peaceful life without any monetary issues even after your death.

Demerits:

You have to pay the premium every year.