New Delhi, March 16 -- Online brokerage platform Zerodha's Chief Executive Officer (CEO) Nithin Kamath, in a social media post on platform X, highlighted that purchasing life insurance and health insurance is the first thing essential for anyone starting on their personal finance journey.

"The first thing you should do when you are starting your personal finance journey is to ensure you have sufficient life and health insurance. If you have dependents, not having life insurance is a bad idea," said Nithin Kamath in his post on March 11.

Kamath also cited that after interacting with people, he found that one of the biggest contributing factors to people not purchasing insurance is the jargon and hidden clauses in a policy document.

"The...