POSTED BY April 22, 2012 10:07 pm COMMENTS (7)
ONI am planning to buy health insurance from Apollo Munich, one individual health insurance for my mother and one family floater including me and my wife, I have doubt regarding the exemption I get in 80 D. Suppose the individual health insurance premium cost me around 15,000 Rs, and family floater cost me around 10,000. Hence, I am eligible for the tax exemption of Rs 25,000, 15,000 for dependent parents and 15,000 for health insurance of self, spouse and children, is this understanding correct? or I have missed something, or the tax exemption will of Rs. 15,000 irrespective of the number of policy I take.
Regards
Zoeb
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It is approx aroung 13000 Rs, for Oriental Health Insurance Family Floater
Thanks Ashal for your prompt reply. Actually i have contacted them and they are suggesting me that i will not get individual health insurance for my mother and i will get only family floater as she has BP and spinal cord related surgery.
they are suggesting me to go for 6 lac Oriental Gold health Insurance, I have contacted Apollo Munich and maxbupa but didnt get any response for getting health insurance for my mother.
Regards
Zoeb Lakdawala
Dear Zoeb, what ‘ll be the prem. for that Oriental policy of 6L SA?
Thanks
Ashal
Hello Ashal, the age of my mother is 53, is it possible for me to get her individual health insurance, as she is suffering from Blood Pressure and underwent spinal surgery
Dear Zoeb, please contact individual insurer or contact medimanage.com for your mother’s case & discussed it in details. you ‘ll surely get the cover for your mother but coverage for BP related issues & that spinal thing may not be available for next 3-4Y.
Please opt 15K prem. for your family floater policy & purchase another policy for your mother alone. This way the total prem. of 30K ‘ll be available for tax saving.
Thanks
Ashal
Dear Zoeb, what’s the age of your parents?
thanks
Ashal
Yes. you are correct.
upto 15000/- for your family.
additional upto 15000/- for your parents if parents are not citizens.
or additional upto 20000/- for your parents if parents are senior citizens.
Since in your case the premium you have assumed is 10000 for your mother, and 15000 for your family, it is within limits. You will get tax benefit for Rs. 25000/.