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

Mirae Asset Healthcare Fund

Best SIP Funds to Invest Online   Mirae Asset Global Investments (India) has launched Mirae Asset Healthcare Fund. The NFO of the fund will be open from June 11, 2018 to June 25, 2018. Mirae Asset Healthcare Fund is an open-ended equity scheme investing in healthcare and allied sectors. The scheme will invest in Indian equities and equity related securities of companies that are likely to benefit either directly or indirectly from healthcare and allied sectors. The investment strategy of this scheme aims to maintain a concentrated portfolio of 30-40 stocks. Healthcare is a broad secular theme that includes pharma, hospitals, diagnostics, insurance and other allied sectors. The fund will have the flexibility to invest across markets capitalization and style in selecting investment opportunities within this theme. Neelesh Surana and Vrijesh Kasera will manage this fund. In a press release, Swarup Mohanty, CEO, Mirae Asset Global Inves...

Reliance Regular Savings Fund - Debt Option

Reliance Regular Savings Fund - Invest Online     The scheme aims to generate optimal returns consistent with moderate levels of risk. It will invest atleast 65 per cent of its assets in debt instruments with maturity of more than 1 year and the rest in money market instruments (including cash or call money and reverse repo) and debentures with maturity of less than 1 year. The exposure in government securities will generally not exceed 50 percent of the assets. The fund uses a mix of relatively low portfolio duration with active investments in higher-yielding corporate bonds. It does not take aggressive duration calls but tries to improve returns by cherry-picking corporate bonds. This is reflected in the fund's returns matching the category and benchmark for five years - at 8.4 per cent - but lagging behind the category during a raging bull market in bonds in the last one year. The fund has been a consistent but not chart-topping performer in the income category. Despite its ...

How to Decide your asset allocation with Mutual Funds?

Invest In Tax Saving Mutual Funds Online Download Tax Saving Mutual Fund Application Forms Buy Gold Mutual Funds Call 0 94 8300 8300 (India) How to Decide your asset allocation ? The funds that base their equity allocation on market valuation have given stable returns in the past. Pick these if you are a buy-and-forget investor. Small investors are often victims of greed and fear. When markets are rising, greed makes the small investor increase his exposure to stocks. And when stocks crash to low levels, fear makes him redeem his investments. But there are a few funds that avoid this risk by continuously changing the asset mix of their portfolios. Their allocation to equity is not based on the fund manager's outlook for the market, but on its valuations. Our top pick is the Franklin Templeton Dynamic PE Ratio Fund, a fund of funds that divides its corpus between two schemes from the same fund house-the...

How to generate a UAN Online

Best SIP Funds Online   In order to make Employees' Provident Fund (EPF) accounts portable, the Employees' Provident Fund Organisation (EPFO) had launched the facility of Universal Account Number (UAN ) in 2014. Having a UAN is now mandatory if you have an EPF account and are contributing to it. So far, you got this number from your employer and every time you changed jobs, you had to furnish this number to the new employer.  However, in order to make it easier for you to get a UAN , and without your employer's intervention, the EPFO now allows you to go online and generate a UAN on your own. This facility can be used by freshers, or new employees, who are joining the workforce as well as by employees who have older EPF accounts but do not have a UAN as yet. As a new employee, you can simply generate a UAN and provide the number to your employer at the time of joining, when you need to fill up forms for your EPF contribution. As per a circula...

Gifts to relatives will not attract tax

Tax Saving Mutual Funds Online Current open Infra Bond Application form Gifts are always special to the recipient and it would be extra-special if there is no tax payable on these. The taxman believes so, too. In the provision introduced in Section 56 of the Income Tax Act, if any sum of money is received gratis by an individual or Hindu Undivided Family (HUF) during any year, it shall not be taxable if from a relative. The law has already defined the term 'relative' and HUF. However a case that came up before the Income Tax Tribunal shows that some clarifications were still needed. Background The law also exempts gifts during special occasions like marriage of an individual or under a will or by way of inheritance and even in contemplation of death of the payer. Money received as grants or loans from educational institutions/universities, charitable trusts or similar institutions is also exempt. The term relative has been defined in the law to include spo...
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