I asked ChatGPT, May 10 -- "With a 20 LPA income, how much insurance should I take for a family of 4?"

I'm a 34-year-old salaried professional living in Bengaluru. I earn Rs.20 lakh per annum and am the primary breadwinner. My wife works part-time, and we have two young children. I already invest through mutual funds and maintain an emergency savings account. However, I am unsure whether my insurance coverage is actually sufficient.

Assess four key areas: term life insurance, health insurance, critical illness cover and accident protection. I also want honest answers about common insurance myths.

Managing finances on a Rs.20 LPA income is no small task. A family of four in a metro city like Bengaluru faces unique financial pressures. S...