Health Insurance: After the Corona epidemic, both people’s attitude towards health insurance and their mindset have changed. Cashless benefit is available in most of the medical insurance. Since medical expenses have increased a lot, it is very important to take health insurance for the safety of yourself and your family. You get double benefit by buying this policy. Firstly your medical cost decreases and secondly it helps in saving tax. If you have adequate coverage, you can live your life in peace.
Buy critical illness cover separately
Anil Chopra, Group Director, Financial Wellbeing, Bajaj Capital said that if someone is suffering from a critical illness then there is also a critical care insurance policy. Critical illnesses are covered in the critical illness plan. Its scope includes cancer, heart attack, kidney disease etc. They say that take critical illness plan separately. It has critical illness rider and standalone policy. Critical illness rider covers a limited number of illnesses. Whereas, the standalone policy is a comprehensive plan. In this, a lump sum amount is received on the diagnosis of the disease.
For whom critical illness cover is more important?
Anil Chopra said that due to the way critical diseases are increasing in today’s date, it has become necessary to take this plan separately. If there is a single earner in the house, then this plan is very important. If there is a serious illness in the family history, then take it under any circumstances. If your lifestyle is not good and live in a metro city, then definitely buy this plan. There is a waiting period of 90 days for this policy.
Rebate is available under section 80D
Deduction is available under section 80D on purchase of health insurance policy. Deduction under section 80D will be available on the premium on purchase of health insurance for self, spouse, children and parents. It is necessary to pay the premium in cash. Deduction is also available on preventive healthcare checkup up to Rs.5000. If the age of the parent is more than 60 years, then the medical expenditure incurred on him is also eligible for deduction.
Up to 1 lakh discount on buying medical policy
Deduction up to Rs 25,000 is available under section 80D on purchase of medical policy for self, spouse and dependent children. There is a separate benefit of 25 thousand for the parents. In this way the total exemption becomes Rs.50,000. If the parents are senior citizens, then this exemption becomes 50 thousand rupees. In this way, the amount of exemption becomes 75 thousand rupees. If self and spouse are above 60 years, then a discount of 50-50 thousand is available on the premium of both the policies. In this way the total amount of exemption becomes Rs 1 lakh.
