What's Comprehensive Health Insurance?
It's an insurance coverage plan which gives the individual & his/her family the flexibility for choosing from a vast array of options to secure self and family's health related costs during emergencies. You can choose from various choices of premiums and plans offering sum insured from 2 Lakhs to 10 Lakhs.
You get a life-time renewal policy and there are no constraints like age-entry limit and so on. You can also choose from limited period policies for 1 or 2 year period.
You can benefit from concession of 10% on your 2-year policy. You get facility which covers pre-existing diseases based on the plan you opt for.
You also get additional benefits like add-ons. These add-on covers provide critical hospitalization covers covering critical Illnesses, free admission facilities and other cashless claim facilities available across thousands of reputable network of hospitals across the country.
You also get continuous services during your claim settlement period.
TAX SAVING INVESTMENT OPTION
Tax saving is vital. However, one should undertake judicious and legal steps to save tax. Considering this, investment in comprehensive health insurance plans is one of the best options to invest and save tax.
It gives you two fold of benefits. Firstly, you save taxes as per Income tax rules. Secondly, you enjoy all benefits of a comprehensive health insurance.
The income tax benefits of comprehensive health insurance are as follows-
(1) Avail tax rebate options at year end as per Section 80C and Sec 80D and Sec 80E
(2)Under Section 80D, you can avail premium amount rebate of maximum Rs. 15,000 yearly. For a person of 60 years and above, maximum limit is Rs. 20,000/ year.
If you're paying your parents' medical insurance then you can also claim additional rebate of Rs.15, 000/ year as per section 80D.
If your parents are senior citizens, you get rebate of Rs 20,000.
However, your brothers, sisters and in-laws cannot benefit from the above rebates.
Generally speaking, the term of 'tax saving investments' is derived from the individual's experience and creativity. This differs from one person towards other.
However, here I have shown the benefits of health insurance in terms of tax saving. How health insurance policies help people to save tax and get blanket of health benefits.
Health Insurance policies are generally considered as options which are overlooked even after marriage and when a person reaches his/her old age. However, one important thing to consider here is that it's always better if a person buys comprehensive health insurance plan at an early age.
This relieves him/her and his/her families from various financial costs which may arise due to various unprecedented events.
It's an insurance coverage plan which gives the individual & his/her family the flexibility for choosing from a vast array of options to secure self and family's health related costs during emergencies. You can choose from various choices of premiums and plans offering sum insured from 2 Lakhs to 10 Lakhs.
You get a life-time renewal policy and there are no constraints like age-entry limit and so on. You can also choose from limited period policies for 1 or 2 year period.
You can benefit from concession of 10% on your 2-year policy. You get facility which covers pre-existing diseases based on the plan you opt for.
You also get additional benefits like add-ons. These add-on covers provide critical hospitalization covers covering critical Illnesses, free admission facilities and other cashless claim facilities available across thousands of reputable network of hospitals across the country.
You also get continuous services during your claim settlement period.
TAX SAVING INVESTMENT OPTION
Tax saving is vital. However, one should undertake judicious and legal steps to save tax. Considering this, investment in comprehensive health insurance plans is one of the best options to invest and save tax.
It gives you two fold of benefits. Firstly, you save taxes as per Income tax rules. Secondly, you enjoy all benefits of a comprehensive health insurance.
The income tax benefits of comprehensive health insurance are as follows-
(1) Avail tax rebate options at year end as per Section 80C and Sec 80D and Sec 80E
(2)Under Section 80D, you can avail premium amount rebate of maximum Rs. 15,000 yearly. For a person of 60 years and above, maximum limit is Rs. 20,000/ year.
If you're paying your parents' medical insurance then you can also claim additional rebate of Rs.15, 000/ year as per section 80D.
If your parents are senior citizens, you get rebate of Rs 20,000.
However, your brothers, sisters and in-laws cannot benefit from the above rebates.
Generally speaking, the term of 'tax saving investments' is derived from the individual's experience and creativity. This differs from one person towards other.
However, here I have shown the benefits of health insurance in terms of tax saving. How health insurance policies help people to save tax and get blanket of health benefits.
Health Insurance policies are generally considered as options which are overlooked even after marriage and when a person reaches his/her old age. However, one important thing to consider here is that it's always better if a person buys comprehensive health insurance plan at an early age.
This relieves him/her and his/her families from various financial costs which may arise due to various unprecedented events.
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