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With the constant increasing prices of medical treatment and hospitalization and rapid rise in instances of diseases, today health Insurance is a must have necessity. While health risks and uncertainties are a part of life, one can be fully prepared for the financial aspect by buying health insurance. Payments made towards health insurance premiums are also eligible for tax deductions under section 80D of the Income Tax Act. Individuals up to 60 years of age can claim a deduction of up to Rs. 25,000 for the health insurance premium paid for themselves, or for their spouse or children. One can also claim another Rs. 50,000 as deduction if you buy health insurance for your parents aged 60 years and above

Disclaimer - Insurance is the subject matter of the solicitation. While every effort has been made to ensure that the information given is correct, the author does not hold himself liable for any consequences, legal or otherwise, arising out of use of any such information.