The total capital sum insured of a person should not exceed 60 month's salary / income from present occupation. (policybazaar.com)
For Example, Mohit paid a life insurance premium of Rs 9,500 for the policy issued in the month of March, 2011 having sum assured of Rs 50,000, in such a scenario he can claim a tax deduction of Rs 10,000 (20 % of capital sum assured) towards premium payment of life insurance policy. (comparepolicy.com)
(15 % of actual capital sum assured in case of person with severe disability or specified ailment). (blogs.bajajallianzlife.com)