Health Insurance
A great way to protect your life
Why spend your savings in case of unfortunate accidents or hospital treatments when you can leave the burden to your health insurance plan? Get the right health insurance plan to cover complex diseases like cancer and post and pre-hospitalised treatments. Check out the various insurance policies and find the best suitable plan for yourself and your family with us because nothing comes before your health.
Individual Health Insurance
The most common type of health insurance which is purchased by individuals. It can be used to cover the cost of medical expenses, such as doctor's visits, hospital stays, and prescription drugs.
Family Floater Health Insurance
This insurance type covers the complete family as a unit allowing families to be insured as a whole entity instead of individual coverage. It is good for families with children or senior citizens.
Senior Citizen Health Insurance
This type of insurance is specifically designed for seniors. Based on the medical condition of the individual, the health insurance premium can differ.
Why should you buy health insurance ?
High medical Cost
Medical inflation
Unexpected medical emergencies
Cashless treatment
Coverage for entire family
Tax benefit
Life is beautiful and mysterious. No human can guarantee another person's life duration. Death is inevitable and uncertain. That's why leaving family behind with financial stability is the responsibility of every individual. Getting a life insurance policy with the best benefits will give your loved ones a good life. Different plans of life insurance as below
Tax benefit for health insurance
Premiums paid for a health insurance policy qualify for tax exemption under Section 80D of the Income Tax Act.
The maximum exemption which you can claim for the premiums paid is up to INR 1 lakh. You can also claim up
to INR 5000 of the limit for preventive health check up.
| Policy For? | Deduction for self & family | Deduction for parents | Preventive health checkup | Maximum deduction |
|---|---|---|---|---|
| Self & family (below 60 years) | 25000 | - | 5000 | 25000 |
| Self & family + parents (all of ) | 25000 | 25000 | 5000 | 50000 |
| them below 60 years) | ||||
| Self & family (below 60 years) + parents (above 60 years) | 25000 | 50000 | 5000 | 75000 |
| Self & family + parents (above 60 years) | 50000 | 50000 | 5000 | 100000 |
| Members of HUF (below 60 years) | 25000 | 25000 | 5000 | 25000 |
| Members of HUF ( a member is below 60 years) | 50000 | 50000 | 5000 | 50000 |
* The deduction for preventive check-up upto Rs.5000 will be within the overall limit of RS 25,000/50,000/1,00,000. Please note “family” under this section includes only spouse and dependent children
Points to be considered during the of purchase of medical insurance for claiming 80D deduction under Income Tax Act, 1961
- A medical insurance premium paid for a brother, sister, grandparents, aunts, uncles or any other relative cannot be claimed as a deduction for taking tax benefits.
- Premium paid on behalf of working children cannot be taken for tax benefit.
- In the case of part payment by you and a parent, both of you can claim a deduction to the extent paid by each.
- The deduction must be taken without showing the service tax and cess portion from the premium amount.
- Group health insurance premium provided by the company is not eligible for deduction.
- Premium paid by any mode other than cash is allowed for deduction. Hence premium paid by credit card or other online mode is also allowed for deduction.