Importance to health insurance


Women should take some precautions while taking a life insurance policy.  Decide the insurance amount considering family financial responsibilities, expenses and goals.  One can examine term policies that give high coverage with low premiums.  It is also better to take unit based policies that give higher returns in 10-15 years.  Tax saving is just an additional benefit, so always zero in on policy only based on your needs.  From April 1, 2012 only 10% maximum of total policy is exempted from tax.

*Women should give due importance to health insurance.  The premium paid under this is exempted under 80D upto 25 thousand.  Try to save tax by taking the policy for the whole family.  policy taken for parents can be claimed up to 25 thousand (30K if they are senior citizens).  So, can take policy for parents and provide security to them also.

*There is feasibility of exemption up to 5000 for pre-medical tests.  Therefore, women above 30 years must have a health policy.  Though exemption works for payment made through cash for medical tests, premiums paid through check are only considered for exemption.

It is also important to choose the right policy.  So, first decide the needs, the benefits, the premium, etc.  This holds true not only for insurance policies but also for all types of investments.  Change policies based on changes in your priorities.  The main goal of insurance is to provide financial security and also recognize the fact tax saving is an additional benefit.

According to income tax law section 80C, there is scope for tax benefit up to 1,50,000 invested in different schemes, which also includes premium paid for insurance, which holds the premium place in terms of securing your family financially.