https://www.desidime.com/discussions/best-health-insurance-for-tax-saving-under-sec-80d?page=1#post_9145621
however need health insurance purely for the purpose of tax saving section 80D
bad idea,isse acha donate money and claim 80g
Best Health Insurance for tax saving Under sec. 80D
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so i already have other means for health claim , however need health insurance primarily for the purpose of tax saving section 80D ,which would be better option(coverage , ease of claim ,additional benefit) as the finnacial year is closing by, investment benefit if any.
-also reward point for insurance premier paid
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https://www.desidime.com/discussions/best-health-insurance-for-tax-saving-under-sec-80d?page=1#post_9145626
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https://www.desidime.com/discussions/best-health-insurance-for-tax-saving-under-sec-80d?page=1#post_9145637
Heath insurance has no investment benefits only tax benefits...if one goes by normal options (dunno if other options exist).
https://www.desidime.com/discussions/best-health-insurance-for-tax-saving-under-sec-80d?page=1#post_9145676
Here’s how much deduction you can avail under Section 80D
Take a look at the tax benefit you can get by investing in health insurance.
| Scenario | Medical insurance premium paid for | Total deduction^ under Section 80D | |
|---|---|---|---|
| Self, spouse and dependent children | Parents (whether dependent or not) | ||
| If you and your parents are below 60 years of age. | ₹25,000 | ₹25,000 | ₹50,000 |
| If you and your family are below 60 years of age and your parents are above 60 years of age | ₹25,000 | ₹50,000 | ₹75,000 |
| If both, you and your parents, are above 60 years of age. | ₹50,000 | ₹50,000 | ₹1,00,000 |
https://www.desidime.com/discussions/best-health-insurance-for-tax-saving-under-sec-80d?page=1#post_9145710
Agnivo007 wrote:Heath insurance has no investment benefits only tax benefits...if one goes by normal options (dunno if other options exist).
ok then which provide the most wide facility then not covered by other
https://www.desidime.com/discussions/best-health-insurance-for-tax-saving-under-sec-80d?page=1#post_9145769
did american express provide health insurance ? any specific benefit?
-which health insurance cover spectacle
https://www.desidime.com/discussions/best-health-insurance-for-tax-saving-under-sec-80d?page=1#post_9145784
kukdookoo wrote:however need health insurance purely for the purpose of tax saving section 80D
bad idea,isse acha donate money and claim 80g
:)
better idea, rather then donating have medical insurance +rewards point by paying thru CC +parents care+any other benefit like yearly free checkup
https://www.desidime.com/discussions/best-health-insurance-for-tax-saving-under-sec-80d?page=1#post_9145831
Agnivo007 wrote:Heath insurance has no investment benefits only tax benefits...if one goes by normal options (dunno if other options exist).
https://www.desidime.com/discussions/best-health-insurance-for-tax-saving-under-sec-80d?page=1#post_9145934
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demerius2020 wrote:U said u need it to save taxes, now you are mentioning about parents care. Hey paarth apni indario ko vaash me rakho:)better idea, rather then donating have medical insurance +rewards point by paying thru CC +parents care+any other benefit like yearly free checkup
https://www.desidime.com/discussions/best-health-insurance-for-tax-saving-under-sec-80d?page=1#post_9145947
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demerius2020 wrote:You're doing you own research then... good for you. I'm not interested in this field so posted what I knew.
https://www.desidime.com/discussions/best-health-insurance-for-tax-saving-under-sec-80d?page=1#post_9146105
https://www.desidime.com/discussions/best-health-insurance-for-tax-saving-under-sec-80d?page=1#post_9146610
demerius2020 wrote:did american express provide health insurance ? any specific benefit?
-which health insurance cover spectacle
I have Amex health insurance. 18k premium roughly for 15L individual cover..
They told me that lens for spectacles are covered under opd benefits but not the frame.
https://www.desidime.com/discussions/best-health-insurance-for-tax-saving-under-sec-80d?page=1#post_9146642
Can someone please explain something?
If I already paying 18K for insurance, how am I saving the tax here?
https://www.desidime.com/discussions/best-health-insurance-for-tax-saving-under-sec-80d?page=1#post_9146958
kipte.khoka wrote:Can someone please explain something?
If I already paying 18K for insurance, how am I saving the tax here?
If you buy health insurance, the premium paid is non taxable so if you fall in 30% bracket then ₹5400 is reduced in income tax. That's what they mean by tax saving.
https://www.desidime.com/discussions/best-health-insurance-for-tax-saving-under-sec-80d?page=1#post_9147322
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SnippierJoker wrote:I have Amex health insurance. 18k premium roughly for 15L individual cover..
They told me that lens for spectacles are covered under opd benefits but not the frame.
Any other opd benefits present ? Is it issued by icici lombard for amex customers ?
https://www.desidime.com/discussions/best-health-insurance-for-tax-saving-under-sec-80d?page=1#post_9147323
kipte.khoka wrote:Can someone please explain something?
If I already paying 18K for insurance, how am I saving the tax here?
Can you please tell which insurance plan/company did you opt for ? Or recommend one for someone below age 30
https://www.desidime.com/discussions/best-health-insurance-for-tax-saving-under-sec-80d?page=1#post_9147443
One can buy Money Back Health Insurance Plan, get deduction of 1 lakh. Save 30k on tax.
https://www.desidime.com/discussions/best-health-insurance-for-tax-saving-under-sec-80d?page=1#post_9147601
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chotabaxxa800 wrote:Any other opd benefits present ? Is it issued by icici lombard for amex customers ?
they have a health checkup of 5k once a year and 10k opt which I was told can be used for prescription lens and I was even told root canal was covered which was a surprise for me but I never checked it.
Yes the insurance is underwritten by ICICI bank and is handled directly by icici without any TPA.
https://www.desidime.com/discussions/best-health-insurance-for-tax-saving-under-sec-80d?page=1#post_9147685
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SnippierJoker wrote:they have a health checkup of 5k once a year and 10k opt which I was told can be used for prescription lens and I was even told root canal was covered which was a surprise for me but I never checked it.
Yes the insurance is underwritten by ICICI bank and is handled directly by icici without any TPA.
Whats your age ? Also if insurance is through tpa , any downsides ?
Also whats the plan name?
https://www.desidime.com/discussions/best-health-insurance-for-tax-saving-under-sec-80d?page=1#post_9148171
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chotabaxxa800 wrote:Whats your age ? Also if insurance is through tpa , any downsides ?
Also whats the plan name?
We can reimburse 10k for yoga/ gym bills too.
Effectively you are getting 7L insurance for 2k if you are about 30yrs old.
https://www.desidime.com/discussions/best-health-insurance-for-tax-saving-under-sec-80d?page=1#post_9148311
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rajatindia wrote:We can reimburse 10k for yoga/ gym bills too.
Effectively you are getting 7L insurance for 2k if you are about 30yrs old.
Does this insurance continues even if amex card is closed ?
https://www.desidime.com/discussions/best-health-insurance-for-tax-saving-under-sec-80d?page=1#post_9148789
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demerius2020 wrote:Almost all companies provide similar benefits. What you need to look at is CSR of companies and then buy it. PS - Pls pm if you want to save on insurance and tax planning. We provide tax planning services.ok then which provide the most wide facility then not covered by other
https://www.desidime.com/discussions/best-health-insurance-for-tax-saving-under-sec-80d?page=1#post_9148791
kipte.khoka wrote:I would suggest one good policy rather than 2 different ones. Opt out of company policy and buy a pvt one or ..... upgrage company policy and dont buy pvt one.Can someone please explain something?
If I already paying 18K for insurance, how am I saving the tax here?
https://www.desidime.com/discussions/best-health-insurance-for-tax-saving-under-sec-80d?page=1#post_9148793
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SnippierJoker wrote:Can you share me the plan brochure ?? I seriously doubt what they have claimed !!I have Amex health insurance. 18k premium roughly for 15L individual cover..
They told me that lens for spectacles are covered under opd benefits but not the frame.
https://www.desidime.com/discussions/best-health-insurance-for-tax-saving-under-sec-80d?page=1#post_9148813
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third.i.financial.advisors wrote:
Can you share me the plan brochure ?? I seriously doubt what they have claimed !!
It's not in the plan brochure, it was just informed over call. And I have not tried it so don't really know if it works.
Also FYI - you cant port these insurance by amex, so in case you don't want to continue with Amex in future all your new insurance will have fresh waiting periods.
..So i would not suggest you get these untill you know what you are getting into.
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however need health insurance purely for the purpose of tax saving section 80D
bad idea,isse acha donate money and claim 80g