When Do You Buy An Insurance Policy? In the context of Life Insurance , Often my clients ask When I should buy an Insurance? Some of the answers I heard from the Expert's, and which makes sense to me are the following: As soon as you start earning, As soon as your family starts depending on your income, When you can afford it, When you don't want it!! In the context of Health Insurance ? It is very important to have a Health Insurance policy as soon as you start earning. In India, for lower income level, there is ESI (Employee State Insurance) care available depending on the establishment you work for. For people working in professionally managed organizations (Eg., MNCs), you are generally covered under a Group Mediclaim and/or Personal Accident cover. These are posed as an excuse to not to buy a Health Insurance policy by many. However, from my own experience, I advise you to have a Family Floater Policy for your family by yourselves. In case of Moto...