Tax benefits of Health Insurance | Bajaj Finserv

599 views · Published 8 December 2018 · 1:15 · Indexed 28 October 2026

Channel: Bajaj Finance · 2018 · Education

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As a crucial instrument that provides you and your loved ones with financial security, Health Insurance can be a great investment to help you during times of emergencies, hospitalization, illness or even help you cover your general medical tests. You can look for umbrella coverage by paying for medical expenses in case of hospitalization due to injury or illness. 

Other than safeguarding your finances from hospitalization expenses, Health Insurance enables you to avail tax benefits on premiums paid. Here’s a lowdown on the tax benefits of availing a Health Insurance:

Under Section 80C, you can claim tax exemptions up to Rs. 1,50,000. 

Under Section 80D, here’s what you save:
- Tax deductions up to Rs. 25,000 if no family member is above 60 years of age
- Tax deductions up to Rs. 50,000 if either parent is above 60 years of age
- Tax deductions up to Rs. 50,000 if eldest family member is above 60 years of age

Bajaj Finserv Health Insurance enables you to make most of a high coverage amount of Rs, 10 lakh and affordable annual premiums starting at Rs. 6000. 

With these tax-saving benefits, a Health Insurance is a favourable tax-planning tool that adds a feather to the cap on your investments. It is often said that investing, merely for taxes, is not a favourable option. With Health Insurance, the premium paid not only buys you health cover, but also helps in saving taxes. As medical costs continue to rise, buying a health insurance can be of great help. 

Watch this video to find out more about enjoying tax benefits on Health Insurance. 

Watch this to know about Bajaj Health Insurance - https://www.youtube.com/watch?v=US-LpR5J3kY

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