The more world economy grow the more we can expect uncertainty in our life, usually people go for insurance policies without knowing their requirement, this is because they are attracted towards the different advertisement & promotional activities performed by different insurance companies, So always know yourself, your budget & your earning level before going to adopt any insurance policy.
Personally I am against insurance because its an extra burden of expenses on you. If you’re healthy & living in a place where the security & law & order situation is good, you can live an insurance free life easily. But in a situation where you are expecting high level of risk for your property & health, you need to go for an adequate insurance plan immediately.