When you are young, you probably feel that your whole life is ahead of you, the world is full of possibilities, and nothing’s going to stop you now.

But is it true that you don’t need insurance, at all?

Of course, it’s easy to understand this sentiment. When you’ve just started earning an income, your immediate priorities may be making new friends, having fun and establishing a career.

The common misconception is that if you’re twenty something, healthy and single, and have no dependents (assuming your parents and siblings are financially secure), you have zero need for insurance. In fact, some even call it an “unnecessary cost”.

However, there are reasons why you should consider speaking to a financial advisory professional to plan for certain scenarios:

1. You don’t want to leave your family in debt

Sure, you may be physically healthy, but are you financially healthy? If anything ...