I bought my first insurance policy on the first week of my army recruit days.  I had no financial and insurance knowledge at that time.  On hind sight, probably I will not buy such policy. It is just a simple life policy and does not include any medical illness benefits.  Yes, it is still in force. And miraclely I still have the same insurance agent after so many years. The early "benefit" of this policy was only paying 50% of the premium for the two-and-a-half years of my army life.  The full premium will kick-in only after my army ROD (nowaday known as ORD). ROD - Run Out Date ORD -  Operationally Ready Date The first consideration then was to leave something for my ageing parents in case something happens (that was also what the insurance agent said).  The second reason was probably herding mentality ......