Types of insurance policies in India

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Tax benefits of health insurance

The Health Insurance Policy entitles you to get tax benefits under Section 80D of the Income Tax Act, 1961. You give a discount on the premium paid to the health plan for yourself or your family members, even if they are dependent on you or not. The tax benefits with the premium are subject to the person’s age, whereas the maximum benefit is a limit that can be availed. You get a maximum of Rs. You can save up to 25,000 rupees a year unless you are above 60 years of age. If you are over 60 years of age, this limit of maximum tax benefit will be Rs. 30, 000 If you are paying your own health insurance premiums along with your parents, then you are eligible for tax deduction. 55,000 one year under Section 80D, provided your parents are senior citizens.

Life Insurance POSTAL LIFE INSURANCE (PLI) was inaugurated on 1 February 1884 with the approval of the Secretary of the British Empire, with the approval of the postal welfare of the postal workers. In 1888, the staff of the wire department and the postal workers were invited in 1894. Postal life insurance was the oldest insurance cover in India and the postal department is the oldest insurance venture. Initially the insurance cover of maximum Rs 4000 which has increased to 50 lakhs today.

Types of Health Insurance Policies in India

Someone needs to ensure the safety of family health along with their family. With the rising cost of healthcare in India, Health Insurance has become mandatory for almost everyone. Health insurance not only ensures health security but also solves hassle-free claims. In today’s progressive world, people get different options in terms of buying health insurance.Religare Health Insurance provides Smart Health Salt Scheme. The premium cost of Smart Health Scheme is Rs. 12,064. 100% coverage is provided in this Smart Health Scheme.

 

  1. Personal Health Insurance Policies:

This health insurance policy considers one against many insurers, offers cashless hospital admissions and various add-on benefits. The full amount is available only for one and is determined by the age of the insured holder. Under this policy, every insurer is entitled to complete the entire amount completely.

  1. Family Flotor Health Insurance Policies:

With this Health Insurance Policy, you can include all your family members against many diseases under the same cover. Family Flotor gives a fixed amount for Mediclaim family members who can benefit from lump sum funds for treatment by one or a person. Family Benefit means that the amount specified for the proposer during the policy tenure is available to one or all of your family members for one or more claims. Family Mediclaim Plan Comes on Minor Incremental Expenses

  1. Pre-existing disease cover:

After 2-4 years, different policies consider insurance companies already present, e.g. Diabetes, high blood pressure, kidney failure, cancer etc. The insurance cover already exists contains insurance which was before buying aninsurance policy.

  1. Senior Citizens Health Insurance Plans:

This health insurance plan specifically provides protection for health problems during old age, especially for anyone over 60 years of age. According to IRDA, every firm should include people up to the age of 65 years.

  1. Preventive Healthcare:

Undoubtedly, health care is very expensive and does not want to be insurmountable; otherwise also. So, now we have a preventive health care that takes care of you and does not let you get insurmountable. This policy takes into account preventative care, such as regular health checks, an exemption in X-ray fees, consultation fees etc. By offering various health care, this plan aims to keep you healthy, which is why health checks are done at regular intervals. Preventive care is a medical care provided for a particular complaint but has been focused on prevention of diseases and early detection.

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