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

Surrender ULPPs

  ICICI Pru LifeTime and ICICI Pru Lifestage are Unit Linked Pension Plans. Such insurance linked retirement plans are neither good investments nor do they offer sufficient insurance cover. As you can see, these have turned out to be bad deals. In the Lifetime plan, the fund value is not even equal to the total premiums that you have paid and in the Lifestage plan your return is just about 6% which is quite low. The mortality charges are as per your age which is why they have increased. Moreover, once these plans matures, you will have to compulsorily opt for annuity (regular income) and the annuity rates are generally modest. Assuming these plans mature in the next one year, it will be wise to surrender the plan now and curb your future commitments.   Before you choose to buy a term plan, you have to consider a few points. You need to insure yourself, only during the time you are working and your family is financially dependent on you. At the age of 59, not all insurance companies w...

ICICI Pru Constant Maturity Gilt dividend

Invest ICICI Prudential Constant Maturity Gilt Fund Online ICICI Prudential Mutual Fund   has announced dividend under the following schemes: Scheme Dividend ( R /unit) ICICI Pru Constant Maturity Gilt-DQ 0.26543239 ICICI Pru Constant Maturity Gilt Direct-DQ 0.27171609 ICICI Pru Q Interval Plan I-D 0.10617296 ICICI Pru Q Interval Plan I Direct-D 0.10703967 ICICI Pru Q Interval Plan I Ret-D 0.10617296             The record date has been fixed as June 13, 2016.   ----------------------------------------------- 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 Saver 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) ...

NPS Investment Choice for Safe Investors

Invest NPS Online       Whether they invested through SIPs or put in a lump sum amount, risk-averse individ uals have earned the highest returns. These are investors who stayed away from stocks and divided their NPS corpus between G class gilt funds and C class corporate debt funds. On average, gilt funds have given 9.75% annualised returns while corporate debt funds have churned out more than 11% in the past five years. As a result, the average return for ultra-safe investors in the past five years is in double digits. Even in the short term, ultrasafe investors have been the biggest gainers among NPS investors. Will the good times continue? The gilt funds of NPS are holding long-term bonds with an average maturity of over 19 years and a modified duration of about 9 years.These funds have done well because interest rate cuts have pushed down bond yields. But experts say this trend will not stay forever. NPS is a long-term investment and the bonds are predominantly held to matu...

Buy Health Insurance Plan even if you are covered with my Employer

Buy Health Insurance Plan Online Yes, getting a private insurance cover now, which extends beyond your retirement age, is recommended There are a few reasons why buying a health insurance plan may make sense even though you get medical insurance from your employer. Here are the points you need to think about. Firstly, your employer's insurance coverage will only protect you as long as you are employed with the company. The policy will terminate when you quit the job or when you retire. Post retirement is perhaps the phase when one needs it the most but you won't have it then. Moreover, buying a new insurance policy after the age of 50 means that there will be no coverage for pre-existing diseases.   Lastly, health insurance policy you get from your employer may or may not cover your dependants. ------------------------------ ----------------- 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 Saver M...

SBI MAGNUM MIDCAP ONLINE

Invest SBI MAGNUM MIDCAP ONLINE   SBI MAGNUM MIDCAP fund didn't fare well in its initial years but, in recent years, has steadily improved its performance under the capable hands of its current fund manager. Although investing predominantly in mid-cap stocks, the average market capitalisation of its portfolio is lower than other category peers.   Although the stock selection approach is mostly bottom-up , the fund manager doesn't shy away from taking bold sector bets , as is reflected in its large exposure to the healthcare sector. She is equally adept at handling performance across market cycles--the fund has captured more of the upside during market upticks and contained the downside during downturns in a better manner than its peers.   Given its superior risk-reward equation, the fund is a worthy pick in its category.     ----------------------------------------------- Invest Rs 1,50,000 and Save Tax under Section 80C. Get Great Returns by Investing in Best Performing EL...
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