Which insurance plan is best for us.

Thumb rule is you should be insured for 80 times of your monthly income.   If you are earning 50 k you should have a cover of Rs.40 lacs.    Premium for a term plan can be anywhere between 10 k to 25 k depending upon the company whereas an endowment policy will cost you Rs.4 lacs.  That's why Term Policy.   Insurance is for the sake of Insurance not for savings.  There are many options available which will give you a better return than Insurance policies. 

Bank bazaar :P