Parents: Some of you may not be aware of the fact that the premium paid for a senior citizen health insurance plan, or the premium paid for a health plan for your parents, is covered under section 80D of the Income Tax Act. liable for the deduction. Such benefits are available to an individual who pays health insurance premiums for self, spouse, children and parents. The important thing is that you should know whether the parent is dependent on you or not, such benefits will come to you.
The amount of tax benefit basically depends on the age of the insured, premiums paid for self, spouse, children and parents etc. The maximum amount of tax benefit that a person can avail is Rs 25000 per annum, but in such cases the age of the insured should not be more than 60. In the case where the individual is paying premium for a health plan for the parent, who is a senior citizen and is 60 years of age or above, you can get benefits up to Rs.30000. .
If the age of the taxpayer is below 60 years and the parents are below 60+, the taxpayer can easily increase the tax benefit to a maximum of Rs.55,000. Those people who are 60 years of age or above can save up to Rs.60000 under section 80D for health insurance plan of their parents.
Life Insurance Rider: The tax benefit of premium paid towards a health plan is not limited to the health insurance plan of any one health insurer. It is at premium hence you are liable to avail it for all available health insurance policies. If you are paying premium for critical illness or medical insurance rider under life insurance policy then you will qualify for tax benefits under the same.
Health Check-up: This is the most unknown fact that people do not know about. There is also a benefit of up to Rs 5,000 in preventive health check-ups, with a maximum limit of Rs 25,000 or Rs 30,000. In such cases, if you pay a premium of Rs 20,000 for a health insurance policy and undergo a health check-up, which will cost Rs 5,000, then a total benefit of Rs 25,000 under section 80D will be availed. Many major hospitals offer preventive health check-up packages. With the increasing number of lifestyle diseases, it is always better to keep an eye on one’s health.
Tax benefits are always there for both health insurance-indemnity and defined benefit forms. Not only indemnity plans that include mediclaim and family floater plans, but defined benefit plans like daily hospital cash plans and critical illness plans of any individual policy will also qualify under the same.
Cash Payment: A person can pay premiums in cash, but income tax rules withhold tax benefits on all premiums paid in cash to avail tax benefits. One can also pay through internet banking, cheque, draft or credit card to avail tax benefits. However, cash payment is eligible for Section 80D benefits in case of preventive health checkups.
Generally people say that an investment is only to save tax but in the case of health insurance, the matter is a bit different. Apart from tax benefits, health insurance provides the benefit of necessary financial cover to deal with unwanted medical conditions.
Parents: Some of you may not be aware of the fact that the premium paid for a senior citizen health insurance plan, or the premium paid for a health plan for your parents, is covered under section 80D of the Income Tax Act. liable for the deduction. Such benefits are available to an individual who pays health insurance premiums for self, spouse, children and parents. The important thing is that you should know whether the parent is dependent on you or not, such benefits will come to you.
The amount of tax benefit basically depends on the age of the insured, premiums paid for self, spouse, children and parents etc. The maximum amount of tax benefit that a person can avail is Rs 25000 per annum, but in such cases the age of the insured should not be more than 60. In the case where the individual is paying premium for a health plan for the parent, who is a senior citizen and is 60 years of age or above, you can get benefits up to Rs.30000. .
If the age of the taxpayer is below 60 years and the parents are below 60+, the taxpayer can easily increase the tax benefit to a maximum of Rs.55,000. Those people who are 60 years of age or above can save up to Rs.60000 under section 80D for health insurance plan of their parents.
Life Insurance Rider: The tax benefit of premium paid towards a health plan is not limited to the health insurance plan of any one health insurer. It is at premium hence you are liable to avail it for all available health insurance policies. If you are paying premium for critical illness or medical insurance rider under life insurance policy then you will qualify for tax benefits under the same.
Health Check-up: This is the most unknown fact that people do not know about. There is also a benefit of up to Rs 5,000 in preventive health check-ups, with a maximum limit of Rs 25,000 or Rs 30,000. In such cases, if you pay a premium of Rs 20,000 for a health insurance policy and undergo a health check-up, which will cost Rs 5,000, then a total benefit of Rs 25,000 under section 80D will be availed. Many major hospitals offer preventive health check-up packages. With the increasing number of lifestyle diseases, it is always better to keep an eye on one’s health.
Tax benefits are always there for both health insurance-indemnity and defined benefit forms. Not only indemnity plans that include mediclaim and family floater plans, but defined benefit plans like daily hospital cash plans and critical illness plans of any individual policy will also qualify under the same.
Cash Payment: A person can pay premiums in cash, but income tax rules withhold tax benefits on all premiums paid in cash to avail tax benefits. One can also pay through internet banking, cheque, draft or credit card to avail tax benefits. However, cash payment is eligible for Section 80D benefits in case of preventive health checkups.
Generally people say that an investment is only to save tax but in the case of health insurance, the matter is a bit different. Apart from tax benefits, health insurance provides the benefit of necessary financial cover to deal with unwanted medical conditions.
Parents: Some of you may not be aware of the fact that the premium paid for a senior citizen health insurance plan, or the premium paid for a health plan for your parents, is covered under section 80D of the Income Tax Act. liable for the deduction. Such benefits are available to an individual who pays health insurance premiums for self, spouse, children and parents. The important thing is that you should know whether the parent is dependent on you or not, such benefits will come to you.
The amount of tax benefit basically depends on the age of the insured, premiums paid for self, spouse, children and parents etc. The maximum amount of tax benefit that a person can avail is Rs 25000 per annum, but in such cases the age of the insured should not be more than 60. In the case where the individual is paying premium for a health plan for the parent, who is a senior citizen and is 60 years of age or above, you can get benefits up to Rs.30000. .
If the age of the taxpayer is below 60 years and the parents are below 60+, the taxpayer can easily increase the tax benefit to a maximum of Rs.55,000. Those people who are 60 years of age or above can save up to Rs.60000 under section 80D for health insurance plan of their parents.
Life Insurance Rider: The tax benefit of premium paid towards a health plan is not limited to the health insurance plan of any one health insurer. It is at premium hence you are liable to avail it for all available health insurance policies. If you are paying premium for critical illness or medical insurance rider under life insurance policy then you will qualify for tax benefits under the same.
Health Check-up: This is the most unknown fact that people do not know about. There is also a benefit of up to Rs 5,000 in preventive health check-ups, with a maximum limit of Rs 25,000 or Rs 30,000. In such cases, if you pay a premium of Rs 20,000 for a health insurance policy and undergo a health check-up, which will cost Rs 5,000, then a total benefit of Rs 25,000 under section 80D will be availed. Many major hospitals offer preventive health check-up packages. With the increasing number of lifestyle diseases, it is always better to keep an eye on one’s health.
Tax benefits are always there for both health insurance-indemnity and defined benefit forms. Not only indemnity plans that include mediclaim and family floater plans, but defined benefit plans like daily hospital cash plans and critical illness plans of any individual policy will also qualify under the same.
Cash Payment: A person can pay premiums in cash, but income tax rules withhold tax benefits on all premiums paid in cash to avail tax benefits. One can also pay through internet banking, cheque, draft or credit card to avail tax benefits. However, cash payment is eligible for Section 80D benefits in case of preventive health checkups.
Generally people say that an investment is only to save tax but in the case of health insurance, the matter is a bit different. Apart from tax benefits, health insurance provides the benefit of necessary financial cover to deal with unwanted medical conditions.
Parents: Some of you may not be aware of the fact that the premium paid for a senior citizen health insurance plan, or the premium paid for a health plan for your parents, is covered under section 80D of the Income Tax Act. liable for the deduction. Such benefits are available to an individual who pays health insurance premiums for self, spouse, children and parents. The important thing is that you should know whether the parent is dependent on you or not, such benefits will come to you.
The amount of tax benefit basically depends on the age of the insured, premiums paid for self, spouse, children and parents etc. The maximum amount of tax benefit that a person can avail is Rs 25000 per annum, but in such cases the age of the insured should not be more than 60. In the case where the individual is paying premium for a health plan for the parent, who is a senior citizen and is 60 years of age or above, you can get benefits up to Rs.30000. .
If the age of the taxpayer is below 60 years and the parents are below 60+, the taxpayer can easily increase the tax benefit to a maximum of Rs.55,000. Those people who are 60 years of age or above can save up to Rs.60000 under section 80D for health insurance plan of their parents.
Life Insurance Rider: The tax benefit of premium paid towards a health plan is not limited to the health insurance plan of any one health insurer. It is at premium hence you are liable to avail it for all available health insurance policies. If you are paying premium for critical illness or medical insurance rider under life insurance policy then you will qualify for tax benefits under the same.
Health Check-up: This is the most unknown fact that people do not know about. There is also a benefit of up to Rs 5,000 in preventive health check-ups, with a maximum limit of Rs 25,000 or Rs 30,000. In such cases, if you pay a premium of Rs 20,000 for a health insurance policy and undergo a health check-up, which will cost Rs 5,000, then a total benefit of Rs 25,000 under section 80D will be availed. Many major hospitals offer preventive health check-up packages. With the increasing number of lifestyle diseases, it is always better to keep an eye on one’s health.
Tax benefits are always there for both health insurance-indemnity and defined benefit forms. Not only indemnity plans that include mediclaim and family floater plans, but defined benefit plans like daily hospital cash plans and critical illness plans of any individual policy will also qualify under the same.
Cash Payment: A person can pay premiums in cash, but income tax rules withhold tax benefits on all premiums paid in cash to avail tax benefits. One can also pay through internet banking, cheque, draft or credit card to avail tax benefits. However, cash payment is eligible for Section 80D benefits in case of preventive health checkups.
Generally people say that an investment is only to save tax but in the case of health insurance, the matter is a bit different. Apart from tax benefits, health insurance provides the benefit of necessary financial cover to deal with unwanted medical conditions.
Parents: Some of you may not be aware of the fact that the premium paid for a senior citizen health insurance plan, or the premium paid for a health plan for your parents, is covered under section 80D of the Income Tax Act. liable for the deduction. Such benefits are available to an individual who pays health insurance premiums for self, spouse, children and parents. The important thing is that you should know whether the parent is dependent on you or not, such benefits will come to you.
The amount of tax benefit basically depends on the age of the insured, premiums paid for self, spouse, children and parents etc. The maximum amount of tax benefit that a person can avail is Rs 25000 per annum, but in such cases the age of the insured should not be more than 60. In the case where the individual is paying premium for a health plan for the parent, who is a senior citizen and is 60 years of age or above, you can get benefits up to Rs.30000. .
If the age of the taxpayer is below 60 years and the parents are below 60+, the taxpayer can easily increase the tax benefit to a maximum of Rs.55,000. Those people who are 60 years of age or above can save up to Rs.60000 under section 80D for health insurance plan of their parents.
Life Insurance Rider: The tax benefit of premium paid towards a health plan is not limited to the health insurance plan of any one health insurer. It is at premium hence you are liable to avail it for all available health insurance policies. If you are paying premium for critical illness or medical insurance rider under life insurance policy then you will qualify for tax benefits under the same.
Health Check-up: This is the most unknown fact that people do not know about. There is also a benefit of up to Rs 5,000 in preventive health check-ups, with a maximum limit of Rs 25,000 or Rs 30,000. In such cases, if you pay a premium of Rs 20,000 for a health insurance policy and undergo a health check-up, which will cost Rs 5,000, then a total benefit of Rs 25,000 under section 80D will be availed. Many major hospitals offer preventive health check-up packages. With the increasing number of lifestyle diseases, it is always better to keep an eye on one’s health.
Tax benefits are always there for both health insurance-indemnity and defined benefit forms. Not only indemnity plans that include mediclaim and family floater plans, but defined benefit plans like daily hospital cash plans and critical illness plans of any individual policy will also qualify under the same.
Cash Payment: A person can pay premiums in cash, but income tax rules withhold tax benefits on all premiums paid in cash to avail tax benefits. One can also pay through internet banking, cheque, draft or credit card to avail tax benefits. However, cash payment is eligible for Section 80D benefits in case of preventive health checkups.
Generally people say that an investment is only to save tax but in the case of health insurance, the matter is a bit different. Apart from tax benefits, health insurance provides the benefit of necessary financial cover to deal with unwanted medical conditions.
Parents: Some of you may not be aware of the fact that the premium paid for a senior citizen health insurance plan, or the premium paid for a health plan for your parents, is covered under section 80D of the Income Tax Act. liable for the deduction. Such benefits are available to an individual who pays health insurance premiums for self, spouse, children and parents. The important thing is that you should know whether the parent is dependent on you or not, such benefits will come to you.
The amount of tax benefit basically depends on the age of the insured, premiums paid for self, spouse, children and parents etc. The maximum amount of tax benefit that a person can avail is Rs 25000 per annum, but in such cases the age of the insured should not be more than 60. In the case where the individual is paying premium for a health plan for the parent, who is a senior citizen and is 60 years of age or above, you can get benefits up to Rs.30000. .
If the age of the taxpayer is below 60 years and the parents are below 60+, the taxpayer can easily increase the tax benefit to a maximum of Rs.55,000. Those people who are 60 years of age or above can save up to Rs.60000 under section 80D for health insurance plan of their parents.
Life Insurance Rider: The tax benefit of premium paid towards a health plan is not limited to the health insurance plan of any one health insurer. It is at premium hence you are liable to avail it for all available health insurance policies. If you are paying premium for critical illness or medical insurance rider under life insurance policy then you will qualify for tax benefits under the same.
Health Check-up: This is the most unknown fact that people do not know about. There is also a benefit of up to Rs 5,000 in preventive health check-ups, with a maximum limit of Rs 25,000 or Rs 30,000. In such cases, if you pay a premium of Rs 20,000 for a health insurance policy and undergo a health check-up, which will cost Rs 5,000, then a total benefit of Rs 25,000 under section 80D will be availed. Many major hospitals offer preventive health check-up packages. With the increasing number of lifestyle diseases, it is always better to keep an eye on one’s health.
Tax benefits are always there for both health insurance-indemnity and defined benefit forms. Not only indemnity plans that include mediclaim and family floater plans, but defined benefit plans like daily hospital cash plans and critical illness plans of any individual policy will also qualify under the same.
Cash Payment: A person can pay premiums in cash, but income tax rules withhold tax benefits on all premiums paid in cash to avail tax benefits. One can also pay through internet banking, cheque, draft or credit card to avail tax benefits. However, cash payment is eligible for Section 80D benefits in case of preventive health checkups.
Generally people say that an investment is only to save tax but in the case of health insurance, the matter is a bit different. Apart from tax benefits, health insurance provides the benefit of necessary financial cover to deal with unwanted medical conditions.
Parents: Some of you may not be aware of the fact that the premium paid for a senior citizen health insurance plan, or the premium paid for a health plan for your parents, is covered under section 80D of the Income Tax Act. liable for the deduction. Such benefits are available to an individual who pays health insurance premiums for self, spouse, children and parents. The important thing is that you should know whether the parent is dependent on you or not, such benefits will come to you.
The amount of tax benefit basically depends on the age of the insured, premiums paid for self, spouse, children and parents etc. The maximum amount of tax benefit that a person can avail is Rs 25000 per annum, but in such cases the age of the insured should not be more than 60. In the case where the individual is paying premium for a health plan for the parent, who is a senior citizen and is 60 years of age or above, you can get benefits up to Rs.30000. .
If the age of the taxpayer is below 60 years and the parents are below 60+, the taxpayer can easily increase the tax benefit to a maximum of Rs.55,000. Those people who are 60 years of age or above can save up to Rs.60000 under section 80D for health insurance plan of their parents.
Life Insurance Rider: The tax benefit of premium paid towards a health plan is not limited to the health insurance plan of any one health insurer. It is at premium hence you are liable to avail it for all available health insurance policies. If you are paying premium for critical illness or medical insurance rider under life insurance policy then you will qualify for tax benefits under the same.
Health Check-up: This is the most unknown fact that people do not know about. There is also a benefit of up to Rs 5,000 in preventive health check-ups, with a maximum limit of Rs 25,000 or Rs 30,000. In such cases, if you pay a premium of Rs 20,000 for a health insurance policy and undergo a health check-up, which will cost Rs 5,000, then a total benefit of Rs 25,000 under section 80D will be availed. Many major hospitals offer preventive health check-up packages. With the increasing number of lifestyle diseases, it is always better to keep an eye on one’s health.
Tax benefits are always there for both health insurance-indemnity and defined benefit forms. Not only indemnity plans that include mediclaim and family floater plans, but defined benefit plans like daily hospital cash plans and critical illness plans of any individual policy will also qualify under the same.
Cash Payment: A person can pay premiums in cash, but income tax rules withhold tax benefits on all premiums paid in cash to avail tax benefits. One can also pay through internet banking, cheque, draft or credit card to avail tax benefits. However, cash payment is eligible for Section 80D benefits in case of preventive health checkups.
Generally people say that an investment is only to save tax but in the case of health insurance, the matter is a bit different. Apart from tax benefits, health insurance provides the benefit of necessary financial cover to deal with unwanted medical conditions.
Parents: Some of you may not be aware of the fact that the premium paid for a senior citizen health insurance plan, or the premium paid for a health plan for your parents, is covered under section 80D of the Income Tax Act. liable for the deduction. Such benefits are available to an individual who pays health insurance premiums for self, spouse, children and parents. The important thing is that you should know whether the parent is dependent on you or not, such benefits will come to you.
The amount of tax benefit basically depends on the age of the insured, premiums paid for self, spouse, children and parents etc. The maximum amount of tax benefit that a person can avail is Rs 25000 per annum, but in such cases the age of the insured should not be more than 60. In the case where the individual is paying premium for a health plan for the parent, who is a senior citizen and is 60 years of age or above, you can get benefits up to Rs.30000. .
If the age of the taxpayer is below 60 years and the parents are below 60+, the taxpayer can easily increase the tax benefit to a maximum of Rs.55,000. Those people who are 60 years of age or above can save up to Rs.60000 under section 80D for health insurance plan of their parents.
Life Insurance Rider: The tax benefit of premium paid towards a health plan is not limited to the health insurance plan of any one health insurer. It is at premium hence you are liable to avail it for all available health insurance policies. If you are paying premium for critical illness or medical insurance rider under life insurance policy then you will qualify for tax benefits under the same.
Health Check-up: This is the most unknown fact that people do not know about. There is also a benefit of up to Rs 5,000 in preventive health check-ups, with a maximum limit of Rs 25,000 or Rs 30,000. In such cases, if you pay a premium of Rs 20,000 for a health insurance policy and undergo a health check-up, which will cost Rs 5,000, then a total benefit of Rs 25,000 under section 80D will be availed. Many major hospitals offer preventive health check-up packages. With the increasing number of lifestyle diseases, it is always better to keep an eye on one’s health.
Tax benefits are always there for both health insurance-indemnity and defined benefit forms. Not only indemnity plans that include mediclaim and family floater plans, but defined benefit plans like daily hospital cash plans and critical illness plans of any individual policy will also qualify under the same.
Cash Payment: A person can pay premiums in cash, but income tax rules withhold tax benefits on all premiums paid in cash to avail tax benefits. One can also pay through internet banking, cheque, draft or credit card to avail tax benefits. However, cash payment is eligible for Section 80D benefits in case of preventive health checkups.
Generally people say that an investment is only to save tax but in the case of health insurance, the matter is a bit different. Apart from tax benefits, health insurance provides the benefit of necessary financial cover to deal with unwanted medical conditions.
