Readers' Corner: General Insurance
My company's health insurance covers my father, a senior citizen. I am paying additional premium and claiming tax benefit on it.
If I buy another health cover for him, can I claim tax benefit for that, too? Is a stand-alone cover better or a top-up? You can claim 80D benefit of up to Rs 30,000 annually for all premiums put together for your father/parents. This would be in addition to the limit of Rs 25,000 applicable on the premiums for yourself and your family (spouse and dependent children). Whether to go for a separate health insurance policy or a top up-policy depends on the ...
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First Published: Sun, August 07 2016. 22:23 IST