Actually I would say, who would need any life coverage unless you have dependents?

This that you heard from BFM which I also saw on BFM website. It is just another life insurance. The obvious difference being buying online.

A few corrections:
1) Anyone can buy online
While true, anyone can try to buy online but the questions that they will ask before purchase (also known as underwriting) will filter out the real unhealthy ones, who really cannot buy.

2) Such a life coverage...
Is not very different than other life insurance that you buy through agents. The difference is you can't add other things like your medical card or your 36 critical illness benefit, etc. Which serves its purpose depending on what you need for. Example pointed out by another forummer, he opt for this term life instead of going for MRTA, etc… because the money given can be used by the family either to offset the housing loan, or for them to use it anyway they deem suitable.

3) New standalone life insurance policy
Life insurance has always been ‘standalone’. What most people has is this ‘standalone’ and then add in medical and/or other health-related benefits

hope this clarifies something.