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Does medical insurance saves tax?
May
24
2011
I plan to buy health insurance. Should that be a good investment as I will save tax?
Answer #2
yes , you can deduct premium from taxable income.
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Answer #1
Hi
Every individual should be covered under a health insurance policy for the simple reason that medical emergency can strike anyone, anytime. A mediclaim policy provides financial assistance to the insured and his family during critical times and thus when an individual buys a medical insurance policy, his/her sole motive should be risk cover rather than multiplying the savings. Thus one should not expect any investment benefits with a medical insurance policy except tax benefits. For more information on Medical Insurance policy in India, visit, http://www.maxbupa.com/
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