Good financial planning does not just refer to managing your monthly expenses well and growing your wealth. It should also encompass planning for the future and this means having the foresight to ensure that you have appropriate insurance coverage in place to fall back on in times when you need it most.
When you are younger and without dependents to look after yet, you may not see the full benefits of certain insurance policies. However, this does not mean that you should kick the can down the road when you actually have dependents to care for.
Similar to how you are encouraged to start investing as early as possible, you should also aim to be sufficiently insured as soon as you can.