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

Save Tax With Mutual Funds

Download Tax Saving Mutual Fund Application Forms Invest In Tax Saving Mutual Funds Online Buy Gold Mutual Funds Leave a missed Call on 94 8300 8300       Mutual funds are ideal as long term investment avenues for retail investors. To encourage investments in this avenue, the Government of India offers investors a spate of tax benefits thus ensuring maximum benefit from mutual funds held beyond a year. Sample some of the key benefits and refer to the table for a detailed list of tax rates for different types of schemes ·        Avail deductions under Sec 80C of the Income Tax Act by investing up to a maximum of Rs. 1 lakh in designated Equity Linked Savings Schemes (ELSS). Such investments have a compulsory lock in period of 3 years. ·        First time retail investors in equity with a gross total income of up to Rs. 12 lakh can invest up to Rs. 50,000 in specific MF schemes un...
Read more

How much to invest in gold ?

Invest In Tax Saving Mutual Funds Online Download Tax Saving Mutual Fund Application Forms Buy Gold Mutual Funds Call 0 94 8300 8300 (India) Let your motivation dictate the share of the yellow metal in your portfolio Enough has been said and written about gold as an investment option. The latest argument is that the craze for gold among Indian households is endangering our country's balance of payments. The policymakers are busy trying to find ways of discouraging investment in gold, but if households keep the common good in mind, they would be paying the market price for gas cylinders as they do for, say, their mobile phone bills. After all, private decisions are driven by private motives. So, how should a household look at gold from its own perspective? Gold is primarily acquired for its merit as a store of value. Even if the worst crisis hits a family, the gold that it holds could be put to use anywhere in th...
Read more

Buying a Used Car

Invest in Mutual Funds Online Download Mutual Fund Application Forms   Pre-owned car can make sense in these inflationary times. But buying one can be trickier than getting a new vehicle    If you are thinking of buying a car but are worried about the rising inflation and higher EMIs eating into your budget, you should consider buying a used car. For those learning to drive, the general advice is that they should hone their driving skills in a used car. However, buying a used car is not an easy task. Though a used car costs less, there are a lot of aspects to be considered while buying one. You should do your due diligence before buying such a car. For example, two cars of the same model would carry two different prices. The difference in price could be on account of the age of the car, how many people have driven, etc. First Fix Your Budget Since used cars are available in a wide variety of models and prices, the starting point would be to determine your budget befor...
Read more

Debt Mutual Funds Best Fixed Income Investments

Debt Mutual Funds - Invest Online     In the last one year, except for a select few sectoral funds and small cap funds, not many of the equity funds have given great returns. On the other hand, debt funds have done relatively well in terms of returns. So far in the new year too, the stock market has been extremely volatile, pushing investors to look for safer havens. In this context, debt funds are looking safer bets for those investors who do not have the appetite for higher level of volatility. Investors who look for a regular income stream, also look at fixed income products like debt funds, bank fixed deposits and post office monthly income schemes.  Among the fixed income products, debt funds score over others because of chances of higher return, has nearly similar level of risks and liquidity. According to Shah, people looking for regular income could opt for a systematic withdrawal plan (SWP) in debt funds , which, if done judi ciously could also save on taxes. Shah explaine...
Read more

Diversification is key to gain more

Even those who prefer debt for its safety are looking at more options    It is not often that you find more than a couple of asset classes producing good returns at the same time. Invariably, assets such as gold and equity don't perform in tandem, and hence it was easier to allocate to them in line with the risk profile of the investors. In the last couple of quarters, however, more than one asset has turned attractive - gold, debt and equity. In line with the trend, you even have monthly income plans with a combination of more than two assets.    In the past, those who stuck to debt were a different class of investors who didn't wish to take risk with their money. The changing lifecycles and the growing integration of investment markets across the globe have pushed even individual investors to embrace the concept of asset allocation. Hence, you have individuals who were using debt to park profits being prepared to take advantage of other assets.    For instance, when the...
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