Health Insurance Plans
Tax benefit on health insurance plans
Health insurance premiums get benefit under section 80D of the Income Tax Act upto a premium of Rs 15000. Claims made under a health insurance policy are tax free. Many companies have come up with health insurance plans where the premium is fixed at Rs 15000 so that the tax benefit can be fully availed.
Higher Insurance Covers
Certain companies have come up with insurance plans where the cover can be as much as Rs 10 Lakhs. This is especially useful given the high cost of treatment in many of the premier medical hospitals like max, Fortis etc that have come up of late.
Till recently, barely any insurance company offered reimbursement for domiciliary treatment. But of late a few companies have started that. It must be noted however that the premium for such a health insurance plan is significantly higher to a comparable health insurance plan that does not offer domiciliary reimbursement.
Of late a few insurance companies have also included maternity expenses in their coverage. However, the requirement is that the policyholder has been covered under the policy for a few prior years
Maximum age of insured
It is very important that the health insurance policy that one chooses has a maximum age of insured that is quite high