With the advent of nuclear families in India, a lot of couples work and stay in cities far off from their home towns. Along with social structures, the financial structures are changing rapidly. Multiple incomes, less time for wives at home, responsibility of managing kids. Amidst all this, new parents also have some pressing financial decisions to make which they cannot afford to miss. As soon as you welcome your little ones into the world, your dependents multiply and it is an important time to plan and adjust your financial life. You have to be able to pay for your children's health, education and other major expenses. There can be many things to do depending on a couple's individual situation but two stand out. Term Insurance : Insurance against loss of life. God forbid but for any reason if the earning family member is no more, the rest of the family might have to face much more than emotional distress. How does one pay for outstanding home loan EMIs? How about...