I guess my phrasing wasn't clear enough. So here goes ...
I have a very small family, (wife, one infant and yours truly).
Would be getting an all inclusive package of 20,000.
Is this amount sufficient for a family like mine (Indian) to live a normal (standard) life and save something as well?
I don't know how it matters but since someone asked ... I am an engineer with considerable experience.

Hope its a lot clearer now... So please advise.

Thanks.