Over the years, health insurance has emerged as the most popular non-life insurance plan. Its growing popularity among users is attributed to the most basic but ignored worry of the common person. Moreover, a sudden illness in the family or an accident can drain a people out of his/ her savings of life. On that note, with a health insurance plan people can be sure of handling any health adversity challenging the family with ease. Moreover, the growing cost of hospitalization as well as no standard rate of treatment makes health care an expensive affair.
Hence, some points in respect of Tax Benefits with Health insurance plan:
- The increasing market of medical insurance encourages Indian insurance companies to come up with additional and unique features in their plans. For this reasons, people see plans that not only cover the hospitalization cost, but also give the cover on post hospitalization. People plan offer discounts for family plans and renewal offer discounts too. Moreover, availing a medical cover is getting all the more convenient now. It can now be done online with the help axa health insurance by following few simple steps. This saves a lot of time and the hassle that goes into documentation.
- Moreover , they offer Health insurance plan facilities like ,Cashless facility in thousands of hospitals all over India, Pre and post hospitalization charges reimbursement, Discounts on the premium paid every year, no medical tests up to a certain age limit-ranging from 45 to 55 years of age. At the end, pre-existing diseases covered after continuous renewal of your policy for four consecutive years.
- Apart from this, lending people that benefit with the help of cheap health insurance Health insurance plansalso provide people an excellent opportunity at tax saving. This is the most talked about benefit of medical cover and most often a major incentive.
- In fact, previously Section 80D allowed Rs. 15, 000 to be claimed on thehealth insurance plan. Nevertheless, the recent revision allows people to claim Rs. 15,000 for the medical insurance of their self and for their family, plus an additional Rs. 15,000 for their parents.
- To top this with additional benefits, some companies offer a special policy for parents if they are senior citizens. As per this scheme if one or both of the parents are senior citizens, then can claim an additional 20,000 rupees. This means that they are eligible to claim a deduction of Rs. 35, 000.
- On the other hand, there are plenty of products in the health insurance sector. Each of them has a unique feature to offer apart from the tax saving advantage. Either depending on the need people can opt for an individual health cover or get a medical cover for the entire family through the family health insurance policy.
The best way to settle for a medical cover is by consulting a professional. In addition, one can conduct their own little research on the internet and shortlist the products they are interested in.