The term cover sum assured you choose depends on several factor. Typically, the age of retirement is around 60 years. At 30 years old, you have approximately 30 years of earning left. In most jobs, you can expect a raise and a consequent change in standard of living every couple of years. It is recommended to buy term cover that is at least 10-20x your annual income, with consideration given to additional liabilities and inflation. With these conditions factored in this case, Rs. 1 Cr term insurance policy would suffice your needs.