The best part is that it is over and above the deductions claimed under Section 80C. The deduction benefit is available not only for a health insurance plan for self but also premium paid for the policy to cover a spouse, dependent children or parents. This deduction is also available for top-up health plans and critical illness plans. What is Section 80D?Įvery individual or HUF can claim a deduction from their total income for medical insurance premiums paid in any given year under Section 80D. A must in your investment portfolio, the government encourages everyone to buy medical insurance and allows you to avail of tax deductions under Section 80D. The majority of the population in India is not covered under health insurance and depends on their savings or borrowing in times of medical emergencies. It is always better to be safe than sorry, and it is no different when it comes to medical insurance. Medical emergencies always take us by surprise.
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