Term Insurance

1. Your annual income multiplied with 10 should be the ideal cover. Take cover till 60 years of age max with critical illness rider if possible but rider is not mandatory.
2. Ditto doesn’t provide insurance as per my knowledge. They are simply a platform like Policybazaar where they suggest and sell insurance products from different insurance companies like Max Life, HDFC Life, etc. Ditto is a good platform and they really guide well as per my personal experience.

When choosing a term insurance policy in India, consider factors such as coverage amount (sum assured), premium affordability, claim settlement ratio of the insurance company, reputation and credibility of the insurer, policy tenure, optional riders available, and the terms and conditions of the policy including exclusions and waiting periods. Additionally, assess your own financial needs, lifestyle, and future obligations to ensure the policy adequately meets your requirements.

In my case I took cover till my kids reach the age of 30. If you are in IT your salary could increase exponentially in future. So calculate a amount based on your commitment. I have seen a lot of people putting 1CR and later feeling its not sufficient. You could always buy another term insurance but you need to disclose the original insurance and by the time you realise you need additional cover the prices are jacked up. Some insurances provide an option to increase the cover during life events like marriage and child birth.