Costs for quality medical care services can burn a hole in your pocket. Purchase a medical insurance now to cover your health care costs and services. A health insurance or medical insurance plan will provide you excellent medical coverage. What's more! You can now save a lot of tax on your health policy! Choose Medical insurance and get healthier tax advantages.
As per the Budget of 2008-2009, mediclaim insurance will feature greater tax benefit schemes. Many Indian insurance companies have re-modeled their health insurance policies according to the new clause. Ensure health protection of your family with various medical insurance schemes available in the market today. Bajaj Allianz, Tata AIG, ICICI Lombard and other insurance companies offer good coverage and tax benefits under their health insurance policies.
There is no way that you can be exempted from the entire tax burden. But the union budget, last year has brought the situation in your favor. Section 80D, as per the Income Tax Act of 1961, made the premium on your health insurance policy tax deductible. Prior to 2008, the old policy, as per Section 80 D, you could claim only Rs, 15,000 as tax deduction on your health insurance. This amount included the premium paid for the medical insurance of the individual, dependent children, parents and spouse.
As per the new clause, the amount deducted from the insurer's taxable income depends on the premium paid to maintain the health insurance of the family, including children and spouse, i.e. Rs. 15,000 and an additional 15,000 rupees to cover the medical costs of parents. This signifies that you are entitled to an amount of Rs. 30,000 to cover the cost of your family and parents. You are also eligible to get your premium deducted for a serious ailment, as per Section 80D.
You are not only getting excellent cover, but you are also saving a lot of your tax. In this regard, companies like ICICI Lombard, Bajaj Allianz and TATA AIG have come up with innovative policies. Health Advantage Plusm, Family Floater Plan, Hospital Cah and Insta Insure are unique policies offering excellent coverage and tax benefits to its customers.
The Health Advantage Plus is unique in itself. The Health Advantage Plus offers you a provision of claiming coverage of Rs. 15,000 for your family and another 15,000 for your parents. This is applicable across all other health insurance policies as well. Its uniqueness lies in the fact that the premium remains fixed at Rs. 15,000, while the sum insured changes. You will get a benefit of up to 100% limit. Apart from your medical costs, your outpatient charges including diagnosis and dental treatment will also be covered. The best part is that you don't have to be hospitalized in order to claim coverage. Crisis arising out of terrorism is also covered in this policy. You can gift your policy to your parents under this scheme. You can save as much as Rs, 5099 under this policy.
The family floater plan covers the entire cost of your family under one sum insured and one scheme. No health check up is required till the age of 55. Emergencies arising out of acts of terrorism are also covered under this policy. Buying medical insurance online is easy! A good medical coverage and tax benefits are assured under this scheme. You are free from filling up time consuming documents. Fill the form online and take as many soft copies as you want from anywhere around the world.
Medical Insurance is a must need for all, especially for those whose have dependents on them, however on a practical note opting for a insurance broker would be beneficial, as it would give you better ability to compare amongst the various medical insurance policies availiable.
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