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What is Ubuntu Base Update ?

What does exactly this patch in the case of security?

Why do I need to install it?

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Ubuntu Base Updates are fixes to known exploits in the kernel.

Installing security patches are a way of reducing possible attack avenues.

By making sure your system is patched you can no longer get attacked with those particular exploits. By removing the "Known exploits" you remove almost all of the attackers (Script Kiddies and Script Writers making up approximately 98-99% of attackers) as they only deal with the known exploits.

Some of the most famous malware epidemics such as the SQL Slammer worm, were only made possible by admins that failed to install the patch for that exploit.

By not patching your system you are leaving you system open to attack and putting your data(family photos, financial information, etc) at risk.