Taking sufficient insurance cover before you start your investment journey is like laying an effective foundation before constructing a building. Like a building built without a proper base may collapse, and with no adequate protection plans, your investments may get drained out.
For any financial plan, the first act of action is taking a satisfactory insurance cover. This is for the reason that expenditures in case of an unfortunate occurrence of an uninsured insurable event are unpredictable, while the premium paid to take a protection method is predictable.
So, not only taking cover against a peril, but insurance is important to protect your investments also.