Skip to main content

Employer Health Insurance

Tax Saving Mutual Funds Online

Current open Infra Bond Application form

 

 

PROVIDING medical insurance cover for employees and their family members is a norm among many big companies now. But, considering how medical expenses have soared in the past few years and companies have also reduced the size of medical cover due to high claim levels, it just may not be enough.

It would be wiser to have a family health cover to prevent unforeseen medical expenses at unexpected times. What should one look out for before choosing a medical insurance cover.

If there is no medical cover from the employer:

For those who do not have a medical cover provided by the employer, taking a family health cover for all family members will be more economical than taking individual cover for each member.

For a family of four members, say a couple and two children, living in a metro, a medical cover for Rs 3,00,000 would be ideal.

If one were to include two senior citizens, then a Rs 5,00,000 cover would be advisable with a critical illness top-up.

If the employer provides medical cover:

Even if the employer provides a basic medical insurance, it may not be sufficient to cover the possible medical expenses. Instead of taking an additional health insurance cover, it would be wise to take a top-up cover. A top up cover would come into force only when the coverage limit of the basic health insurance policy has been used up. The premium paid on a top-up cover is also cheaper than a full-fledged family insurance cover.

Many insurers like United India and Bajaj Allianz have top-up family insurance covers.

Over 45 years? Consider a full-fledged cover:

Taking a full-fledged medical insurance cover for self and spouse after retirement, when the corporate medical coverage ceases to exist, will end up becoming very expensive. Instead, taking a comprehensive policy when one is around 45 years of age will not only provide adequate coverage when health conditions start kicking in, but will also result in lower premium outgo, compared with taking a fresh policy at 50 years of age.

Family individual plan or floater plan?

An individual plan is where each member will be covered up to a specific sum, say Rs 1,00,000 in a policy with Rs 4,00,000 coverage for a family of four members. In a family floater policy, the medical cover could be used by any member, to any extent up to the maximum coverage limit.

The premium is cheaper in a family floater policy compared with a family individual policy. The choice between taking a family floater or individual policy depends on the risk perception and the susceptibility to medical treatments as perceived by the person.

How to choose a cheaper family health policy?

Some insurance companies start with low premium rate and then after two years increase the rate dramatically. When evaluating health insurance policies, look at premium rates of the last five years of the insurance company to ensure that you are looking at pricing over a period of time.

Also, it is good to choose policies with a co-payment option (percentage of claim that you will have to bear) as it can bring down the premium rates significantly at a nominal cost.


Saving tax with family health insurance: Finally, a family health insurance cover also helps one save tax under Section 80D.

One can claim an annual deduction of Rs 15,000 from taxable income for health insurance premium for oneself and dependents, which includes spouse and children. For health insurance premium paid towards parents, an additional tax benefit of Rs 15,000 could be claimed, which would also increases to Rs 20,000 if the parents were senior citizens.

 

 

---------------------------------------------

Invest in Tax Saving Mutual Funds ( ELSS Mutual Funds ) to upto Rs 1 lakh and Save tax under Section 80C.

 

Invest Tax Saving Mutual Funds Online

Tax Saving Mutual Funds Online

These links can be used to Purchase Mutual Funds Online that are regular also (Investment, non-tax saving)

 

Download Tax Saving Mutual Fund Application Forms from all AMCs

Download Tax Saving Mutual Fund Applications

 

These Application Forms can be used for buying regular mutual funds also

 

Some of the best Tax Saving Mutual Funds available ( ELSS Mutual Funds )

  1. HDFC TaxSaver
  2. ICICI Prudential Tax Plan
  3. DSP BlackRock Tax Saver Fund
  4. Birla Sun Life Tax Relief '96
  5. Reliance Tax Saver (ELSS) Fund
  6. IDFC Tax Advantage (ELSS) Fund
  7. SBI Magnum Tax Gain Scheme 1993
  8. Sundaram Tax Saver

---------------------------------------------

Application form for Tax Saving Infrastructure Bond and more information

Current open Infra Bond Application form

 

Submit filled up application    Collection canter near you

 

 

 

------------------------------------------------
How to apply to REC Bonds?

Apply for REC Tax Free Bonds forms below

Download REC Tax Free Bond Application Forms

Submit the filled up form to Collection canter near you

Popular posts from this blog

Birla SunLife Manufacturing Equity Fund

The Make in India program was launched by Prime Minister Naredra Modi in September 2014 as part of a wider set of nation-building initiatives. It was devised to transform India into a global design and manufacturing hub. The primary motive of the campaign is to encourage multinational as well domestic companies to manufacture their products in India. This would create more job opportunities, bring high-quality standards and attract capital along with technological investment to bring more foreign direct investment (FDI) in the country.   Why India as the next manufacturing destination?   The rising demand in India along with the multinational's desire to diversify their production to include low-cost plants in countries other than China, can help India's manufacturing sector to grow and create millions of jobs. In the words of our Honourable Prime Minister- Mr. Narendra Modi, India offers the 3 'Ds' for business to thrive— democracy,...
Read more

Total Returns Index brings out real Equity Funds Performers

From February, equity mutual funds have to change their benchmarks to account for dividend payments. Until now, funds used price-based benchmarks alone. TRI or total return indices assume that dividend payouts are reinvested back into the index. What this does is lift the overall index returns, because dividends get compounded. For example, the Sensex TRI index will consider dividend payouts of its constituent companies while the Nifty50 TRI index will consider dividends of its constituents. Using TRI indices as benchmarks comes on the argument that an equity funds earn dividends on the stocks in its portfolio, which they use to buy more stocks. Therefore, using an index that also considers dividend reinvestment would be a more appropriate benchmark. Shrinking outperformance With a stiffer benchmark, it is obvious that the margin by which an equity fund outperforms the benchmark would shrink. Rolling one-year returns from 2013 onwards, the average margin by which largecap funds out...
Read more

Stock Review: Havells

HAVELLS India's stock performance has been muted in the past three months, in line with the weak broader market. But, given the turnaround in its overseas subsidiary and the launch of new products in its consumer durable business, the company's stock may undergo a re-rating.    Havells is India's leading consumer electrical goods company, with consolidated sales of . 5,527 crore in the past four quarters. Its wholly-owned subsidiary Sylvania, which makes lighting and fixtures, has established brands in European, Latin American and Asian markets. Sylvania repre sented nearly half of the company's consolidated revenues in the first half of FY11.    Sylvania's poor financials hit Havells' consolidated performance in FY10. But, this has changed in the cur rent fiscal. Havells has reduced fixed costs of Sylvania by exiting from unprofitable businesses and outsourcing manufacturing to low-cost locations such as India and China. In the September 2010 quarter, Sylv...
Read more

Kisan Vikas Patra - KVP

  Kisan Vikas Patra (KVP) First launched in 1988, the Kisan Vikas Patra (KVP) is one of the premier and popular saving scheme offering from the Indian Postal Department. This product has had a very chequered history- initially successful, deemed a product that could be misused and thus terminated in 2011, followed by a triumphant return to prominence and popular consumption in 2014. The salient features of KVP are as follows- The grand USP- Money invested by the applicant doubles in 100 months (8 years, 4 months). KVPs are available in the following denominations- Rs.1000, Rs.5000, Rs.10,000 and Rs.50,000. The minimum purchase value for the KVP is Rs.1000. There is no maximum limit. KVPs are available at all departmental post offices across India. These certificates can be prematurely encashed after 2 ½ years from the point of issue. KVPs can be transferred from one individual to another and from one post office to another. ----------------------------------------------------- Inve...
Read more

Health for Wealth - How to buy Health Insurance ?

Tax Saving Mutual Funds Online Current open Infra Bond Application form   HEALTH insurance is a relatively new phenomenon in India. Hence, it is not on the top of the mind for most people to make a conscious commitment towards health insurance. However, it is imperative for each one of us to plan for better health for our families and ourselves. There's no better way than to start with making health your top priority this year. So, your health insurance resolution charter would look something like: ■ Invest in health for wealth: Timely investment in health insurance can help build a security net and hedge sudden dilution of another financial asset class in the event of a health emergency, making it imperative to opt for a comprehensive health insurance plan. ■ Buy a comprehensive health cover that fu lfills your health needs for life: Buy a personal health insurance cover even if you have an employee cover because 'employer provided' health insuranc...
Read more
Related Posts Plugin for WordPress, Blogger...
Invest in Tax Saving Mutual Funds Download Any Applications
Transact Mutual Funds Online Invest Online
Buy Gold Mutual Funds Invest Now