Ideally who and when should one take health insurance?

A health insurance or a mediclaim policy is needed for everybody. Nobody can predict when somebody will need to be hospitalised. Particularly a person who earns money should take a mediclaim policy for himself or herself and for anybody else whose hospitalisation expenses he is likely to pay for typically your spouse, your dependent children, your dependent parents.

The hospitalisation expense is something that you might have to pay for you should take. Another example could be your personal assistant, your driver; now typically if they get hospitalised the cost will invariably come on you or you will have to contribute towards the cost. You might as well take a mediclaim policy for that rather than wait for that event to occur.