Mediclaim

Term Insurance – A well-wisher at every hour of life

Finance - Financial planning is a process of meeting the goals of life with the help of proper finance management techniques. This includes elements of wealth creation, planning for certain milestones in your life and the most important of them all – planning for emergencies and contingencies. Term insurance not only offers peace of mind but ...

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Rider Cover: The Added Element that Enhances Your Basic Health Cover

Finance - These days, having a Mediclaim policy in India is not a choice but a necessity. Your daily requirements and needs change with time, so do your health insurance needs. The basic health insurance cover that you had at the age of 25 years may not fulfill your insurance requirements of at the age of 40 […]...

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Deduction U/s. 80D for Medical Insurance/Expenses & Mediclaim

Finance - Deduction U/s. 80D of the Income Tax Act, 1961 in respect of Medical Insurance Premium (Mediclaim) paid, to keep in force insurance by individual either on his own health or on the health of spouse, dependent parents and children or paid by HUF on the health of any members of the family....

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Section 80D: Deduction for premium paid for Medical Insurance

Finance - CA Abhianchal Dua Deduction is available up to Rs. 25,000 to a tax payer of premium paid for Medical insurance of self, spouse and dependent children. If individual or spouse is 60 years old or more the deduction available is Rs 30,000 (this amount has been increased to Rs 50,000 w.e.f A.Y 2019-20). An additional […]...

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Section 80D Deduction for Mediclaim Insurance Premium

Finance - Section 80D: Deduction Under Section 80D for Mediclaim Insurance Premium to Individual, HUF, Senior Citizens....

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Service tax applicable on all cashless mediclaim transactions from July 1 2010

Finance - A new 10.3% service tax has been introduced on all cashless mediclaim transactions from July 1, to be paid by Third Party Administrators (TPA) to hospitals later. What does this mean for consumers? According to lawyer and consumer activist Jehangir Gai, "Consider that a patient with a cover of Rs 1 lakh has been allowed a claim of the fu...

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Soon mediclaim for treatment at overseas hospitals

Finance - Medical care at overseas hospitals could well be within your reach with a number of health insurance providers planning to launch a premium health cover shortly. Health insurance providers, both private and state-owned, are readying products targeted at high networth individuals that would provide a cover of about Rs 50 lakh....

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Portability of Health Insurance Policies from 1st July 2011

Ref: IRDA/HLT/MISC/CIR/030/02/2011 - (10/02/2011) - There have been several representations from consumer associations and policyholders for enabling portability of health insurance policies from one insurer to other insurer. Persons shifting from one region to other regions are many times put to disadvantage due to lack of insurers’ office provid...

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449 Hospitals to Provide Cashless Facility to the Insured and also Package Rates for 41 Common Surgical Procedures

NA - (21/08/2010) - The Public Sector General Insurance Companies have been incurring health insurance claims in excess of premium received and after factoring in acquisition costs, which are around 10%, and the management expenses which are over 25%, the Combined Ratio i.e. the total expenses for health portfolio exce...

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Withdrawal of Medical (Cashless) Insurance Products by Public Sector Insurance Companies

NA - (18/08/2010) - Statement in Response to Calling Attention Motion Notice on Unilateral Revision / Withdrawal of Medical (Cashless) Insurance Products by Public Sector Insurance Companies. The Minister of State for Finance Shri Namo Narain Meena made the following Statement in response to the Calling Attention Motio...

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Efforts on to restore cashless treatment facility

NA - (13/07/2010) - Concerned over the plight of patients after withdrawal of the cashless treatment facility by some hospitals at the behest of PSU insurance firms, noted heart surgeon Naresh Trehan on Monday said all-out efforts are underway to resolve the issue....

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Mediclaim policyholders will soon be able to switch their health cover providers

NA - (23/06/2010) - Mediclaim policyholders, who are not satisfied with the service of their existing service providers, will be able to switch to another insurer soon without any change in the premium outgo.However, this facility will be available to those policyholders who are insured for a sum of Rs 1 lakh and above...

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Recent Posts in "Mediclaim"

Term Insurance – A well-wisher at every hour of life

Financial planning is a process of meeting the goals of life with the help of proper finance management techniques. This includes elements of wealth creation, planning for certain milestones in your life and the most important of them all – planning for emergencies and contingencies. Term insurance not only offers peace of mind but ...

Read More
Posted Under: Finance |

Rider Cover: The Added Element that Enhances Your Basic Health Cover

These days, having a Mediclaim policy in India is not a choice but a necessity. Your daily requirements and needs change with time, so do your health insurance needs. The basic health insurance cover that you had at the age of 25 years may not fulfill your insurance requirements of at the age of 40 […]...

Read More
Posted Under: Finance |

Deduction U/s. 80D for Medical Insurance/Expenses & Mediclaim

Deduction U/s. 80D of the Income Tax Act, 1961 in respect of Medical Insurance Premium (Mediclaim) paid, to keep in force insurance by individual either on his own health or on the health of spouse, dependent parents and children or paid by HUF on the health of any members of the family....

Read More
Posted Under: Finance |

Section 80D: Deduction for premium paid for Medical Insurance

CA Abhianchal Dua Deduction is available up to Rs. 25,000 to a tax payer of premium paid for Medical insurance of self, spouse and dependent children. If individual or spouse is 60 years old or more the deduction available is Rs 30,000 (this amount has been increased to Rs 50,000 w.e.f A.Y 2019-20). An additional […]...

Read More
Posted Under: Finance | ,

Section 80D Deduction for Mediclaim Insurance Premium

Section 80D: Deduction Under Section 80D for Mediclaim Insurance Premium to Individual, HUF, Senior Citizens....

Read More

A cashless hospitalisation facility from your mutual fund scheme

Often financial planners advise individuals to set apart atleast six months of their earnings as an emergency fund in order to meet unforeseen expenses such as sudden hospitalisation, loss of jobs, etc. Such a fund is generally maintained in cash at home or in a savings bank account, which earns an interest of around 3.5%....

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Posted Under: Finance |

Why we need Health Insurance and related Myths

Recently, My Father in law was hospitalised and had a surgery. Strangely, all visitors asked “Do you hold a Health Insurance? Expenses are covered nah?” Listening to this I had decided that my next article had to be on Health Insurance. So  in this ‘Thoughtful Thursday’ we are covering everything you want to know ...

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Posted Under: Finance |

Taxability of Medical Insurance Premium paid by employer in employees hand

Many companies as a part of the compensation to employees and its HR policy pay for the health insurance of the employees and it’s family. The premium is paid by the company for the benefit of the employees.However, the HR department needs to understand the tax implication for the premium paid in the hand of the Company/Organisation an...

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Posted Under: Finance |

Sec. 80D Deductions for senior citizens raised to Rs. 50000

Section 80D, inter-alia, provides that a deduction upto Rs 30,000/- shall be allowed to an assessee, being an individual or a Hindu undivided family, in respect of payments towards annual premium on health insurance policy...

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Posted Under: Finance | ,

5 Benefits of Health Insurance

Health care plans provide tax benefits. Premiums paid towards your health care policy are eligible for tax deductions under Section 80D of the Income Tax Act, 1961. If you are under 60 years of age, you may claim up to INR 25,000 tax benefits on health insurance premiums for yourself, your spouse, and dependent children, and an additional...

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Posted Under: Finance |

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