INSURANCE

There is so much unpredictability encompassing one's health and it is almost impossible to have any control over health-related expenses. However, after getting insured with a suitable health insurance plan, you can exercise some degree of control and gain some security vis-a-vis your and your family’s health care expenses.

Tax Benefits

Not only does health insurance safeguard you from the financial ramifications of a medical crisis but it also provides you significant health insurance tax benefits. Whilst the premiums paid for health insurance plans for senior citizens are eligible for tax deduction to the extent of ₹50,000, those for individuals below the age of 60 years have a tax deduction.

Rising Medical Costs

In recent years, the medical inflation in India has not only kept pace with its retail counterpart but exceeded it by leaps and bounds. The cost of medicines, medical examinations, hospitalisation, and surgeries are consistently on the rise. It makes more sense to pay the basic health insurance premium and get insured than shelling out those exorbitant health expenses from your own pocket.