The first three months of the year are pretty traumatic for several people; especially those taxpayers who still have some room to save on taxes and are unsure of how to go about handling last minute tax savings. So, I had this friend’s nephew, a bright techie who wanted to know if it was a good idea to go in for an insurance policy in which he had to deploy Rs 12,000 a year for three years for him to collect Rs 10 lakh after 10 years. I asked him what made him believe that he would be able to collect Rs 10 lakh a decade from now by paying Rs 36,000 over the next three years.