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Chief
just go with one cover of 1Cr and invest more on equity and mutual funds.
there is no 100% guarantee that your family will get those 1cr after your death but in mutual fund and equity there is 1000% gurantee that they will get the money.
add nominee and tell them the details and how to redeem.
Chief
in youtube search "labour law advisor channel" and watch his videos on truth of insurance.
Rising Star
10 times your annual salary is a good rule of thumb