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Please suggest Best Life Insurance & Investment option in India?

Hello, I'm 32, male, married, have one child, a professional software Bangalore, thought to obtain insurance coverage and some SIP. I'm new to the field of Insurance, Mutual Funds, etc. My main requirements are: a) I want to invest around Rs. 50K a year for tax exemption. b) I need Rs. 15 the ALC insurance coverage throughout my life. This means that in case of death, I need my family members to get Rs. 15 lac c) I would have a mediclaim policy of Rs 3 Latin American countries. That means that in the case of hospitality of every one of us (we are 3) we must be able to claim the amount. I currently have a group insurance from my company Lacs upto 1.5. d) I would like invest around Rs. 25K a year in mutual funds better and safer in a period of next 10-15 years. E), I want to ensure that the education of my son is not loaded (is now 4 years) later. I have to invest around 10 km per year for its future. F) I'm planning for the next home loan 2 years. Please sugst

Prahlad Dear, You have very nice explained their data here. I suggest you put your money in different segments, such as life insurance and put into [mutual funds], FDs now a days are also a good option. concept is how much risk you can assume. In terms life insurance-at least 3 times your annual income must be the sum insured [the coverage of risk]. if the tax on savings MFS – SBI is an artist in the last 5 years. These are only suggestions from my side and you are the ultimate judge of your money. please consult with friends and professional with a fresh mind. One more suggestion: spread its investment in the months of January except BECAUSE differnet April January to March you will be paying income tax. And school sessions [for children] begins in April, where it requires good amount of money. this is my observation