Is this a good scheme?
So I registered for a insurance plan run by the government agency. I have to pay approximately 3500 Rupees every month till I am 55 years old. After 55 years, I will recieve Rs 1,00,000 every year and on death, my family members will recieve approximately (age of death x10) lakh rupees.

I already registered and is now planning to continue with it. Do you think its a good choice? Enlighten me.
Life insurance is not an investment. Your goal should be to make enough money and enough income streams (real estate, crypto, stock market) to self insure.
Insurance is bit different and they don't offer you money in middle of investment also you haven't said how many years you are or how many years you need to pay them?
You will get only 1 lac per year that means around 9k per month, but how much the total investment in it?

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