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

Group Health Insurance

Buy Group Health Insurance Online   For Human Resources, the biggest challenge today is to decide whether medical benefits should be offered to employees or not, what type of plans should be offered, what will be the cost and how will the cost be split between employees and employer. Well, most of these are subjective and would depend on a lot of factors including company size, average employee salary, etc. However, this article will give you a fair idea on how you should go about deciding these factors: 1. Why offer group health insurance benefit to employees : Studies have proved that retention rates among employers offering GHI are much higher than the ones who are not offering. Moreover, the cost of providing this benefit as a percentage of salary is very low as compared to the perceived value. As an example, say if average salary of an employee in your organization is 4 LPA. If you decide to offer a health insurance benefit to him for a Sum insured of ...
Read more

ICICI Prudential Dynamic Plan Invest Online

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   ICICI Prudential Dynamic Plan             Invest Online This fund does remarkably well during falling markets, but fails to show the same prowess during a rising market. The fund sticks to its mandate to adapt to the dynamic nature of the market by shuttling between debt and equity. It takes aggressive asset calls in equity when the market surges by investing in quality mid-cap stocks. At the same time, it adopts a defensive strategy by investing in debt and cash when markets get overvalued, making it a good long-term choice.     For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call     Leave a missed Call on 94 8300 8300   Leave your comment with mail ID and we will ...
Read more

Lump Sum or SIP?

Invest Mutual Fund Online     You have a lump sum in hand and you wish to invest in equity funds. However, you have heard a lot of talk about investing in equity funds through Systematic Investment Plans (SIPs) because they help average costs, ensure you do not ill-time the market, and help you invest in small sums, besides giving you many other advantages. So, should you invest the money you have in hand in one go, or let it remain in your bank account and then do an SIP? There is no harm in investing a lump sum amount. For all you know, compounding, over the long term, could work better with lump sum. However, make sure you fulfill all of these three criteria if you want to invest in one go. Else, SIP is the way to go. #1: You invest for the long term According to past data, ideally, if you have a time frame of 12 years or more, you can consider lump sum investing (provided you satisfy the other two conditions that follow). So, what is the sanctity behind 12 years? Is it because only...
Read more

Why credit history is critical?

Will you need a loan to buy a car or a house? Do you know why some people get their loans sanctioned quickly without any hassle, whereas others find that their approval is delayed or their application is rejected? If you want a loan, you will need to work to build a solid credit history because this can have a bearing on the ease with which you get loans. Read on to learn more about what is a credit history and how to build a good credit score. What is a credit history? Your credit history is a way of tracking your credit behaviour and habits — basically it shows how disciplined and regular you are when it comes to repaying your dues on loans that you have taken. It will show a complete record of your past borrowing and repayment record including details about any late payments or if you have defaulted on a loan. This track record is readily accessible to lenders and is used by them to when reviewing your loan application. Borrowers who have historically had a bad record of managing...
Read more

Income tax Section 80CCF - A Tax saving Scheme that has Buyback Option IDFC Infra Bonds

IDFC has come out with a public issue of long-term infrastructure bonds in the form of secured redeemable non-convertible debentures. Investments of up to . 20,000 in these infrastructure bonds are eligible for tax exemption under section 80CCF. This is in addition to the . 1 lakh limit available under Section 80C, 80CCC and section 80CCD of the Income-Tax Act. The issue is currently open and will close for subscription on December 16. The bonds on offer have two investment options. While series 1 carries a 9% coupon, payable annually, series 2 is a cumulative option where 9% will be paid compounded annually. The face value of each bond is . 5,000 and one can apply for a minimum of two bonds. The bonds have a lock-in period of five years. At the end of five years, you can sell the bonds on NSE. Also, there is a buyback facility available. Investors can subscribe to these bonds in either the physical form or in demat form. An investment of . 20,000 would fetch a tax exemption of . 2,...
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