Health Insurance
Hospitalisation expenses have been skyrocketing and it is mandatory to have a health insurance policy which covers sudden hospitalisation, critical illness and disability. You can pay a premium in yearly/two yearly/three yearly mode and generally covers the following :
- Pre and post hospitalisation expenses
- Cost of room/hospital bed
- Cost of surgery and related expenses
- Cost of medicines/consumables
- Cost of Road and Air Ambulance
- Test Procedures like Xray and many more
You can have a medical insurance policy for each individual member of the family or have a floater plan covering everybody in one policy.
Section 80D allows a tax deduction of up to Rs 25,000 per financial year on medical insurance premiums. Section 80D also includes a Rs 5,000 deduction for any expenses paid for preventative health check-ups.
