Pay health insurance premium, save tax

Want to save tax with health insurance? Here's your chance.

Apnainsurance.com Research Bureau

05 Dec 2007

Is there a tax deduction on the premium paid?

Premiums paid up to Rs. 15,000 per annum under the health insurance plan for self, spouse, two dependent children and dependent parents are exempt from tax under section 80 D of the Income Tax Act.

Can I get a refund if I cancel my health insurance plan during the contract term?

Yes. The insurer is liable to refund the premium if no claim has been made up to the date of cancellation.

See also:

Miscellaneous Health Insurance FAQs

Health Insurance FAQs about Coverage

Health Insurance FAQs about Claims

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