Need for life insurance is triggered by change in life stages. As soon as one starts to earn, one requires life insurance said Anuj Agarwal, MD and CEO, Bajaj Life Insurance. The earlier you start, the more you gain by getting a higher cover at a lesser premium. Therefore, it will be wise to start analysing the life insurance needs at the beginning of professional life and then at the change of each life stage say, marriage, purchase of home, children or promotion.