Apollo Munich Health Insurance Company

Apollo Munich Health Insurance Company

Apollo Munich Health Insurance Tax Implications – Apollo Munich Health Insurance

A health insurance plan provides a number of benefits for the individual. People who are covered by a medical plan can live a lot more stress-free life than those who do not have one. The fiscal benefits of a mediclaim policy are not limited to the mere financial cover provided. It also provides help in saving the amount of tax one pays to the government.

Apollo Munich Plans provide tax benefits that are applicable under section 80(D) of the Income Tax Act. The premium amount paid to get the health insurance policy is exempted from the taxable amount, up to a maximum of Rs. 15000. This limit changes for senior citizens. It goes up to Rs. 20000 per annum. All the above deductions are available after the deductions of 80(C) of the Income Tax Act, that offer limit of Rs.1 lakh.

The main reason for providing tax benefits with health insurance plans is to encourage people to stay covered all the time.

6 comments:

  1. I agree. I know how worried I used to be before I bought Easy Health (a plan also from Apollo Munich). Now I use the money I saved up to travel and see new places.

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  2. Health Insurance is the best way to save tax under section 80D. In addition, try to have the plan from the most reputed company, that is Apollo Munich.

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  3. Good to know that the Apollo Munich plans are tax free. Thanks for the info.

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  4. I think the tax benefits are good and important...

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  5. Great tax benefits.

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  6. Health Insurance is the best way to save tax beneath area 80D. In addition, try to accept the plan from the best accounted company, that is Apollo Munich.

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