Skip to main content

Health Insurance and Tax Saving

Tax Saving with Health Insurance
 

What is the most valuable commodity one can posse? Money? No! Power? No! Success? No! No! No! I am talking about our most priceless commodity 'HEALTH'. All things will follow only if you are healthy. Nobody wants to distort their life because of bad health. However, some uncertainties can never be predicted completely and Bad-health is one of them. You don't know when it knocks at your door and trap you. So, you need to be prepared in advance. You might not be able to stop sickness from trapping you but can certainly cut its wings by treatment. But again, treatment requires money as nothing comes for free and certainly not health so what to do? Now, here comes your savior 'Health Insurance'.

As the name suggests, health insurance policies are policies that look after you and your family members health along with your wallet. Many insurance companies know how one visit to doctor can suck you dry, hence they offer several types of health plan so that you can live healthily, happily and without any stress. In fact, since last few years, health insurance India industry has expanded vastly and still government is trying to tap this market.

What Market Offers?

Market offer different kinds of medical insurance plans but which will be the best health insurance plan totally depends on individual needs. Below is the table on types of medical insurance policies-

Health_insurance_policies_in_India

Health_insurance_policies_in_India

What Medical Policy Covers ?

This question might tickle your brain and it is valid also. You should know why to buy a certain product. What is its importance? Hence, below are some of the benefits of buying health coverage plans-

  • Co-Payment- Some plans may not provide you complete remuneration for treatment but offers to pay some of the treatment's fee (depending on terms & condition) and thus, lessen your burden.
  • Ambulance fee Why to even pay for an ambulance also when you have policy that covers it on your behalf?
  • Health Check-up- Some of the best mediclaim policy also offers for health check-up (Depending on insurer health claim history and terms in policy)
  • Tax Benefit The most important benefit of medical coverage is it is good investment. Now, you must be wondering how? Well, as per section 80D of Income Tax Act, paying mediclaim premiums can help in tax deduction. A person if buy mediclaim for himself, partner (spouse), his children and parents (below 60) can save upto Rs. 15,000 yearly and in case parents are 60+ then Rs.20,000 tax can be deducted (Depending on income). So, it is no rocket science that health plan is the best investment deal. (Not applicable to corporate world)
  • Free Treatment– Several health plans offer free treatment to insurers so they don't have to stress over finance and can contentedly treat themselves and their family.

 

Medical_insurance

Medical_insurance

Now, that you know why health insurance is so important then make sure to buy it for yourself and your entire family and live a healthy and stress-free life. However, make sure to compare all the plans before you buy because every insurance company claims to offer the best medical insurance in India but what is truth can only be measured after comparison.

 

 

 

-----------------------------------------------
Invest Rs 1,50,000 and Save Tax under Section 80C. Get Great Returns by Investing in Best Performing ELSS Mutual Funds

Top 10 Tax Saving Mutual Funds to invest in India for 2016

Best 10 ELSS Mutual Funds in india for 2016

1. BNP Paribas Long Term Equity Fund

2. Axis Tax Saver Fund

3. Franklin India TaxShield

4. ICICI Prudential Long Term Equity Fund

5. IDFC Tax Advantage (ELSS) Fund

6. Birla Sun Life Tax Relief 96

7. DSP BlackRock Tax Saver Fund

8. Reliance Tax Saver (ELSS) Fund

9. Religare Tax Plan

10. Birla Sun Life Tax Plan

Invest in Best Performing 2016 Tax Saver Mutual Funds Online

Invest Online

Download Application Forms

For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call

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

Leave your comment with mail ID and we will answer them

OR

You can write to us at

PrajnaCapital [at] Gmail [dot] Com

OR

Leave a missed Call on 94 8300 8300

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

Popular posts from this blog

Retirement planning from a long-term perspective

Invest In Tax Saving Mutual Funds Online Download Tax Saving Mutual Fund Application Forms Buy Gold Mutual Funds     `HOW green was my valley'. This title comes from a movie I had watched many years ago. A little boy's journey into adulthood and the story of a Welsh valley's turn of-the-century descent from pristine paradise to despoiled coal mining.   I thought of the title because it is comparatively reflective of a person's life ­ the glorious years when he is earning and the sun down years when he is not having his regular job and, hence, his living standards comes down. The reason is a combination of things. Inflation of food items, transport, increase in health related costs in the later years of life and increase in expenses in almost all basic amenities of life. In India, the social security system is almost non-existent. In some states, wherever it is available, the scales of benefits are extremely modest...

CNX Midcap vs BNP Paribas Midcap Fund

BNP Paribas Midcap Fund - Invest Online   Te  performance of BNP Paribas Midcap Fund  – which has across the last 3 years generated superior returns over the benchmark – especially when the markets have gone down the fund has handsomely outperformed the benchmark preserving the capital of the investors. The fund has been able to do this only due to the superior stock selection process ( BMV approach) that is diligently followed at BNPP.   Highlights of BNP Paribas Mid Cap Fund:   Investment Objective : BNP Paribas Mid Cap Fund gives an investor exposure to invest in the various quality midcap stocks. The fund also has some exposure to large as well as small cap stocks.   Investment Approach : BMV ( Quality and scalability of Business →Good Management → Reasonable Valuation ) with Bottom-up stock picking.   Most of the investors are way happier if the fund that they have invested in is a significant Outperformer in tough times than in Good ti...

Investment Strategy - What is Sector Rotation Theory?

Buy Gold Mutual Funds Invest Mutual Funds Online Download Tax Saving Mutual Fund Application Forms Call 0 94 8300 8300 (India)   The economy goes through cycles : it expands for a few years and then contracts. Study of historical data suggests that different sectors tend to perform well on the stock markets during different stages of the economic cycle. While history never repeats itself exactly, some broad patterns tend to recur. Investors can take advantage of the sector rotation theory to move their money from those sectors that have seen their best times to those that are likely to do well in future.   The person who developed the sector rotation theory is Sam Stovall, chief investment strategist at Standard & Poor's. He developed this theory by studying data on economic cycles going as far back as 1854 provided by the National Bureau of Economic Research ( NBER ) of the US.   When trying to correlate stock-market perfor...

LIC's JEEVAN SHIKHAR

  LIC's Jeevan Shikhar is a participating, non-linked, saving cum protection single premium plan wherein the risk cover is ten times of Tabular Single Premium. The proposer will have an option to choose the Maturity Sum Assured. The premium payable shall depend on the chosen amount of Maturity Sum Assured and age at entry of the life assured. This plan also takes care of liquidity need through its loan facility. The plan will be open for sale for a maximum period of 120 days from the date of launch. 1.   BENEFITS   : a) Death Benefit: On death during first five policy years: Before the date of commencement of risk   :   Refund of Single Premium without interest. Single Premium mentioned above shall not include any extra amount if charged under the policy due to underwriting decision and taxes. After the date of commencement of risk   : "Sum Assured on Death" equal to 10 times the tabular single premium shall be payable. On death after completion of five policy years but b...

Rajiv Gandhi Equity Savings Scheme (RGESS) set for launch this week

The finance ministry is set to notify the Rajiv Gandhi Equity Savings Scheme ( RGESS ) this week.   Though Finance Minister PChidambaram had approved on September 21, the scheme announced in this year's Budget, and had said that the revenue department will notify the scheme and the Securities and Exchange Board of India ( Sebi ) would issue relevant circulars within two weeks, it is yet to become operational.   A senior finance ministry official said the revenue department was expected to notify the scheme any day now to attract retail investors to the equity segment.   He added that Sebi was not required to issue any circular for the operationalisation of the scheme and that after the issuance of the revenue department's notification, investors would be able to avail of the benefits of the scheme.   The official accepted that implementation of the scheme had been delayed due to the deliberations on inclusion of mutual funds ( MF ) in it.   ...
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