Its a very good product of ICICI Prudential Life Insurance . You can increase your insurance cover by paying little extra amount and also can take health riders. I suggest you must select Joint Life Last Survivor option. Beauty of product is that it provides you a deduction of Rs. 10000/- from your taxable Income. SO if you are in Highest Tax Breaket then you can save Rs. 3060/- Tax. If you are in age group of 30-35 then its best Sum Assured for Annual Premium . Instead of putting Rs. 20000/- in TAx Bond and save Tax Rs. 4000/- it is much better option for TAx saving since : Its has less outflow of Money It has Insurance It also provide a regular Income when you require it Most.