Given this dual benefit of financial protection and tax saving, health insurance is a must-have. Here's how to make the best of it
Many tax payers who have exhausted their section 80C investments don’t realise that there are other expenses, too, that get tax breaks. Among them is expenses towards healthcare—specifically health insurance premium, which comes under section 80D. You can use this to claim further tax deductions. “For health insurance of your family and parents who are senior citizens, the total deductions are up to 55,000," said Mukesh Kumar, executive director, HDFC ERGO General Insurance Co. Ltd. Given this dual benefit of financial protection and tax saving, health insurance is a must-have. Here’s how to make the best of it.
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