A health insurance plan (also known as a medical insurance policy) covers medical expenditures incurred as a result of an accident, sickness, or accident. Individuals can obtain such coverage in exchange for annual or monthly premium payments for a certain period of time.
During this time, if the insured individual gets diagnosed with any covered illness or gets injured in an accident, the insurance company will cover the costs of treatment.
Senior citizen health insurance in India has gained immense attention in recent years. With a large population of senior citizens and a limited number of available resources, the Indian government has been working to create a system that provides adequate health coverage for its elderly citizens.
In India, family health insurance is a type of insurance coverage that provides financial protection to a nuclear family in the event of an unforeseen health crisis. The head of the family is typically the policyholder, and the other members of the family are the beneficiaries.
Personal accident health insurance offers compensation in case of any losses to the policyholder in terms of injuries sustained due to an accident while being in the vehicle. It is one of the most highly recommended health insurance policies if you have a bike or a car.
Children's Health Insurance in India is a vital topic. As per NFHS, nearly 37 percent of Indian children aged 0-5 years are underweight, and 42 per cent are stunted. However, children's health insurance plans encompass several children's health-related issues & compensate for the same.
A reimbursement claim is raised when you pay the admissible medical expenses from your pocket. If the patient/insured is hospitalised or receives treatment from a non-network hospital, cashless treatment cannot be availed.
The steps involved are:
In case you receive medical treatment from a network hospital (the impanelled/partner hospitals of the insurance provider), you become eligible to avail of cashless treatment. You need not make any payment for the admissible expenses.
The steps involved are:
Income Tax Act Section 80D offers tax benefits on the total premium paid to active health insurance policyholders. The tax deduction limit is set at INR 50,000 for individuals of or above 60 years of age and INR 25,000 for those under the age of 60 years. These individuals also receive a preventive health care tax break of INR 5,000
Now, if you have a senior citizen in your health insurance plan, you can receive tax deductions up to INR 75,000 (INR 25,000 + 50,000). Similarly, if you are two senior citizens in a policy, you will have entitled to INR 1 lakh (INR 50,000 + 50,000) as a tax deduction under Section 80D.
We provide services in homes across Tamilnadu, Kerala, Karnataka and Andhra to recommend the best LIC plans.
