Buying a Health Insurance? Here’s All You Need to Know

Having health insurance in place is an essential requisite, especially for those prone to face health issues every now and then. Though the importance of health insurance is quite evident, the two primary reasons to subscribe to the product are:-

You and your family members (whoever is covered as per the policy) are covered against medical expenses incurred at any point in their life. This helps you save a huge chunk of money which would have been otherwise used to pay those expensive bills if you haven’t had health insurance in place.
Medical insurance allows you to claim a tax rebate for the amount paid in a year as premium towards the insurance.

You Must Know - How to claim Health Insurance Plain?

Tax benefits for health insurance subscribers.

You can claim a tax-exemptions up to Rs. 75000 for the expenses incurred for a dependent disabled person in your family. These deductions are available under section 80D of the Indian Income Tax laws. Please check the terms & conditions in advance before filing the rebate.
A policyholder is eligible for a tax exemption up to Rs. 25000 annually on the premium paid towards the health insurance. This limit increases to Rs. 30000 if you and your spouse are aged 60 years or above. This deduction is also available under section 80D. Lastly,

Bottom line: There are multiple provisions under section 80D. Read them before filing a claim. Also, choose the right insurance policy based on your needs. Do some research and find out the best options available. Take professional help if required.

Read more related this Topic: Tips to Save Money on Health Insurance

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