Do I need insurance???

Every time when the term "insurance" is mentioned as long as it is not mandatory insurance products. People tend to say "I am health and no need for insurance, it's waste of money". But life is un-predictable, when people get ill or accidents happen during the travel, people who don't have insurance coverage, they are stuck with paying big bills out of their own pocket may end up lose everything. People who has insurance coverage, finance is the last thing they need to worry about.