What should be my minimum total coverage for personal accident policy?

[anurag]

My age is 32 years and my wife's age is 30 yrs, we have a one year old kid with no other dependents. I have a personal accident policy of New India Insurance of 2 lakhs and life insurance policy of 5 lakhs. Now, I wanted to buy another PA Policy. What should be my minimum total coverage of life insurance?

[Vivek]

Minimum life insurance should be 10 times of your annual income. You can also check here - http://www.policywala.com/hlvcalculator.php and http://www.policywala.com/lincalculator.php for exact amount. You can opt for term insurance to fill the gap. You can also keep your personal accident at the same sum assured.