Medical Insurance in India
- Having just one health insurance is sufficient for one whole family.
- There is a cashless facility to the insured in case of any hospitalization of himself or his family member with an illness. This facility is available in most of the good hospitals in India.
- The insured will get cash benefits during hospitalization if he has a medical insurancepolicy.
- The insurance companies take care of both pre and post expenses of hospitalization.
- The insurance also covers the ambulance charges.
- The expenses that occur 60 days prior and 90 days after hospitalization are taken care of by the insurance policy.
- The premium paid for this insurance has tax exemption.
- The tax is exempted according to Income Tax Act under the following situations:
- If the premium paid per annum is upto Rs.15,000 for self, spouse and children (only for 2 children)then there is a tax exemption under Section 80D of the Income Tax Act.
- The insured can claim the amount upto Rs.15,000 if he/she has parents as dependents.
- For senior citizens the tax deduction amount is Rs.20,000.
- ICICI Lombard Plans
- United India Insurance Company Limited
- Bajaj Allianz
- New India Assurance Company Limited