You need a life insurance policy when your family depends on you financially. Working people with ageing parents or families with children to take care are typically the people who need a life cover. The single young or the retired don’t usually make the cut for life insurance. However, the same parameters do not apply when it comes to health insurance: everybody needs to have this policy.
In the prime of your youth, medical illness maybe an unlikely event but not accidents; they can land you in a hospital too and you may have to shell out a hefty sum given the rising medical treatment costs. And as you grow older, you become more susceptible to ailments, especially the ones that are linked to your lifestyle.
