Insurance or Investment - What comes first?

Many new prospective investors comes to me asking suggestion for investment schemes where they can get good returns. But I don't start the discussion with just investments. I start by asking them if they have taken adequate health insurance first, and then optimum life insurance coverage second, if they are married or if some of their family members are financially dependent on them. Most of the time, I get a reply that they do not have any insurance. 

Insurance in India has a very low penetration. Bulk of the people are not insured both in terms of health coverage or pure life cover. And I am speaking of people who has affordability in buying them. Even if they have taken insurance, the coverage amount is insufficiently low. 

I always advise every individual that they should first buy their health and life insurance cover. If they already have, they must ensure that the coverage is adequate based on their lifestyle. This is the foremost priority. The investment comes later. Some individual counter me by saying that they first want to invest and later on spend on insurance. They consider insurance costs as an expense. This is so wrong way of looking into it. In fact, money spent on term insurance and health insurance may be the best investment one may make. In the unfortunate event of a crisis related to health, all your savings could be wiped off without sufficient health insurance. Similarly, in case of death, the family could suffer greatly due to loss of income. Whatever, insurance is mostly bought by people are an insurance-investment combo. In India insurance is generally perceived as investment. This too is so wrong. Insurance and Investment must be looked separately. Insurance distinctly must be of pure Health cover and of pure Term Plan. In a combo plan of insurance-investment, neither the insurance cover is ample, nor the investment returns are good. It defeats both the objectives.     

Yes, dealing in investment is my main work but I know; without proper insurance, investments may not last long.