New India Assurance Health Insurance Plans

Under many health insurance plans, there is a concept of co-payment wherein you are required to bear a part of your claim yourself. The insurance company would pay the claims which are in excess of the co-payment ratio. For example, if the co-pay ratio is 20%,20% of the claim would be borne by you and the insurance company would bear the remaining 80%. Co-payment is usually applicable where senior citizens are insured

If the plan allows maternity coverage, costs incurred in childbirth through normal or Caesarean delivery, pre-natal and post-natal care and any other charges related to childbirth are covered under the plan. However, routine doctor’s consultations during pregnancy, diagnostics, etc. would not be covered

Under health insurance plans you can claim a tax deduction of up to INR 1 lakhs through the provisions of Section 80D. Here’s how

• You get a deduction of up to INR 25,000 if you buy a policy covering yourself, your spouse and your dependent children
• This limit increases to INR 50,000 if you are aged 60 years and above
• If you buy a separate policy for your dependent parents, you can claim a deduction of up to INR 25,000 on your policy and another INR 25,000 on your parent’s health insurance coverage. So, you can get a total deduction of up to INR 50,000
• If your parents are senior citizens, the limit of deduction on their policy would increase to INR 50,000. Thus, you can claim one deduction on your health insurance coverage for up to INR 25,000 and another on your parents’ policy for up to INR 50,000. The total deduction available would be up to INR 75,000
• If you are also a senior citizen, the deduction on your policy would be up to INR 50,000 and your parents’ policy would also be INR 50,000. Thus, you can get a total deduction of up to INR 1 lakh
• You get a deduction of up to INR 25,000 if you buy a policy covering yourself, your spouse and dependent children
• This limit increases to INR 50,000 if you are aged 60 years and above
• If you buy a separate policy for your dependent parents, you can claim a deduction of up to INR 25,000 on your policy and another INR 25,000 on your parent’s health insurance coverage. So, you can get a total deduction of up to INR 50,000
• If your parents are senior citizens, the limit of deduction on their policy would increase to INR 50,000. Thus, you can claim one deduction on your health insurance coverage for up to INR 25,000 and another on your parents’ policy for up to INR 50,000. The total deduction available would be up to INR 75,000
• If you are also a senior citizen, the deduction on your policy would be up to INR 50,000 and for your parents’ policy would also be INR 50,000. Thus, you can get a total deduction of up to INR 1 lakh