Hey guys!
My age is 21 and I am currently working in IT Sector. I am considering to buy insurances, but I am not sure which one to go first(health or life). As I have to invest my savings, I am currently be able to save for any one of the insurance per year as of now.
Because I am young, I cand find both the insurances under 10k/year.
Note: My mom is going through a medical condition and it requires a portion of my monthly salary every month.
Thanks in advance
Based on details provided, seems like your family is dependent on your income (or at least part of it).
So I would suggest to get a Life insurance first, as that would support your family in case of your untimely death.
I am assuming that your company would be providing some type of Health insurance coverage, so you can delay buying a separate health insurance by a some time, till you can afford both insurance.
Hey guys,
Thank you all for your clarification. As you said, I am going to go with Term Insurance policy. Thanks again for your insights.
Hey @Venkatramanan
Coincidentally, We’ve recently published a Z-connect post just couple of days back on the topic about basics of health and Life Insurance. Do check it out once and Welcome to TradingQ&A 
looking forward to many more conversations
Guys in health insurance - the basic we need , but compulsory we need critical care insurance is must
Government life insurance plans can be very cheap. But cover will be low.
At 21, I’d generally prioritize health insurance first, especially given your mother’s medical situation. A health policy protects your savings from a large medical expense, while life insurance is mainly about replacing your income for dependents if something happens to you.
If your mother is financially dependent on you, life insurance does become important—but you can consider taking a basic term plan once your budget allows. Also, keep an emergency fund alongside insurance rather than investing all your savings.