How much you need to get protected.
We cannot deny that life insurance is very important. Being under insured or uninsured and then dying would be tragic for family members dependent on you. One of the most important questions is how much life insurance is needed. There are many types of life insurance products — term plan, Ulips, money back plans and endowment plans. Tax saving insurance instruments are very popular. Usually, people take insurance for Rs 25 lakh, Rs 50 lakh or Rs 1 crore. However, picking a random figure is not the right way to buy life insurance.