Insurance today has become a necessity. Life can give any kind of surprises- pleasant and unpleasant. Health and medical contingencies never comes with a warning. Besides, it is not possible to control what is imminent. The best we can do is to prepare ourselves against such contingencies. With rising costs of health care, it is recommended that we get adequate mediclaim coverage. Insurance provides a shield to your family in case something untoward happens. It is a good investment option. It enhances your savings and finally it does offer tax benefits.
Mediclaim health policy covers unexpected health contingencies like cost of medication and hospitalization expenses, for e.g., the cost of the room and services while being hospitalized. Surgical expenses and physician’s fees during office visits are also covered. Other things that a health care insurance insures are prescription drugs, mental health benefits and maternity care. It is not very often that a person visits a doctor for a regular check-up. We believe that there is less likelihood that we would encounter risk. True, the thought of death is an unhealthy idea but this does not mean that we do should refrain from getting ourselves protected. Added to this is the fact that investing in health insurance saves you from tax obligations.
Under Sec 80(D) of Income Tax Act an individuals gets a deduction for up to Rs. 15,000 p.a.. when he buys a general insurance. The rebate is Rs.20,000 for senior citizens. The premium you pay is directly deducted from salaried income, thus reducing the taxable income to that extent.
The amount you save is your bonus which you can treat as an investment return. Among different general insurance, health insurance is the only kind which provides such rebate. Hence, buying mediclaim health insurance not only gives a protection for yourself and your family but also saves you from fund liquidation in the form of tax.
Nowadays hosts of mediclaim health insurance policies ranging fromcritical care insurance,family health insurance,personal accident insurance, etc.available that offers protection in case of medical emergencies, hospitalization, and other costs incurred. You can choose from multiple plans as suited to your needs and situations.
Whether you buy Individual Health Insurance policy or a Family Health Policy , you get tax rebate, under Sec 80(D). You can get additional tax benefit for up to Rs.15,000 when you buy mediclaim health insurance policy for your parents. If your parents are senior citizens, the benefit is up to Rs.20,000. This is exclusive of tax benefit for up to Rs. 15,000 for self and dependent family. That means that an individual can now avail a rebate for up to Rs. 35,000. Click here to calculate your tax-savings now.
You adore your parents and want to show that you care. Health care Insurance policies offers you a way that can help you show your affections to your parents. Gift your parents mediclaim health insurance policiesthat takes care of your parents in the same way as you do. You can also reap benefits of tax under Sec. 80(D) as mentioned above.
Now you can also buy mediclaim health insurance policy online. Wherever you are, you can buy policy 24x7. Its hassle-free, instant policy as it does not involve any paperwork or third person. Be online, assess the policy wordings, get health insurance quotes and judge on your own. It takes few minutes and you are done with the process of buying online. The next time you think of buying mediclaim insurance policy, do consider this facility and reap benefits to the fullest.
