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Health Insurance Tax Benefits
Accidents and illnesses strike unannounced. If you are not well prepared, medical crises can put you in deep financial troubles. Therefore, it is essential to have a health insurance policy in your portfolio. It will cover the medical expenses incurred during the stay at hospital due to an illness or an accident.
Health insurance policies come with the additional benefit of tax exemption under Section 80D of the Income Tax Act. Let us understand in detail how we can avail of this health insurance income tax benefit.
Section 80D of I-T Act
As per section 80D, a taxpayer can claim health insurance tax benefit on premium paid towards medical insurance for self, spouse, dependent parents, and dependent children.This deduction is applicable over and above the deduction allowed under Section 80C. The deduction allowed under Section 80D is INR 25,000 for individuals and HUF. It can be up to INR 1,00,000 for senior citizens. Non-resident Indian can claim a deduction of INR 25,000. The table below will help you understand it better.
| Scenario | Health insurance premium paid (INR) | Deduction under 80D (INR) | |
|---|---|---|---|
| Self,family, children | Parents | ||
| Individual and parents below 60 years | 25,000 | 25,000 | 50,000 |
| Individual and family below 60 years but parents above 60 years | 25,000 | 50,000 | 75,000 |
| Both individual, family and parents above 60 years | 50,000 | 50,000 | 1,00,000 |
| Non-resident individual | 25,000 | 25,000 | 25,000 |
An individual aged below 60 years can claim a deduction of up to INR 25,000 from the total taxable income for the premium paid for self, spouse and children.
Further, if the individual pays premium paid for health insurance of parents aged below 60, there will be an additional deduction of INR 25,000 from total taxable income, taking the total deduction to INR 50,000.
If the individual pays a premium for self, spouse, children and parents above the age of 60, the deduction will be INR 25,000 for self and INR 50,000 for parents, taking the total deduction to INR 75,000.
If the individual is aged above 60 and pays the premium for health insurance for himself, spouse and parents, the total deduction can be INR 1,00,000.
Preventive health check-up under Section 80D
In order to encourage citizens to go for regular health check-ups, the government has allowed tax benefits on payments made towards preventive health check-ups. It is a way for identifying the illness in time which helps mitigate the risk factors. You can enjoy a deduction of INR 5,000 paid for the preventive health checkup. Keep in mind that the deduction will still be within the limit of INR 25,000/INR 50,000. You cannot claim deduction of any amount beyond the 80D limit.
It can be claimed for yourself, your spouse, children or parents. The payment mode can be cash too. Let us look at an example below.
You pay a premium on health insurance of INR 22,000 for the coverage of yourself, your wife and your children. Additionally, you get a health check-up done and paid INR 5,000. You can claim a total deduction of INR 25,000 under Mediclaim 80D. In this case, you will be able to claim a deduction of INR 22,000 towards the premium paid and INR 3,000 towards the health check-up. The total deduction in this case under Section 80D is INR 25,000.
Single premium policies
There is a provision to claim a deduction for a payment made towards the single health insurance premium policies. When you make a lump sum payment in a year for the policy that is valid for more than one year, it is possible to claim a deduction that is proportionate to the amount of premium applicable for the year.
You can arrive at the appropriate fraction by dividing the amount by the number of policy years. But it will still remain under the limits of INR 25,000 and INR 50,000.
Key points to remember while claiming the deduction
- The medical premium paid towards the coverage for your siblings, grandparents, uncle, aunt or other relatives in the family will not be eligible for a tax deduction under Section 80D<
- Any premium paid for children who are independent and working cannot be applied for the benefit of tax deduction
- If you and your parents have made a part payment, it is possible for both the parties to claim a medical insurance tax benefit to the extent contributed by each.
- You cannot apply for a deduction for the premium paid towards a group health insurance plan offered by the company
How to choose a medical insurance policy?
There are many factors you need to keep in mind while buying a health insurance policy . The medical insurance tax exemption should not be the only reason for you to invest in the policy. You must ensure that you enjoy adequate coverage and financial protection. Ensure that the payment is done by any mode apart from cash and choose an insurance company that has a cashless claim settlement procedure.
The room rent, as well as other expenses, will be allowed on a certain percentage of the sum insured. So, check it thoroughly and ensure that you have an adequate sum insured. Read through the clause related to pre- and post- hospitalisation expenses because many provide for all the expenses incurred one month before hospitalisation and three months after hospitalisation.
Choose the right policy for yourself. A lot of insurance companies are offering coverage for therapies like Siddha, Ayurveda, Naturopathy, Yoga, etc. It is important that you duly consider them.
Many companies also provide daily cash in the form of reimbursement for additional expenses like lab tests and doctor visits. You can also look for companies that offer annual health check-up as an added benefit. The check-up will include different tests and an overall evaluation of the health.
Most importantly, check with the insurance company about the no-claim bonus (NCB). It will make a huge difference to the premium amount you pay on the policy. When you do not make a claim in an entire year, you enjoy NCB, and it increases with each passing year.
Disclaimer: The above information is indicative in nature. For more details on the risk factor, terms and conditions, please refer to the Sales Brochure and Policy Wordings carefully before concluding a sale.
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6 Healthy Habits For Families
The key to long-term health is to get the entire family involved. Right from making healthy food choices to leading an active lifestyle – incorporating healthy habits in your daily lifestyle can be simple and practical when everyone in the family is working towards the same health goals.
Over here we discuss 6 healthy habits for families. You can add these habits into your daily routine to ensure your family’s good health.
6 Healthy Habits for Families
Eating a healthy diet, together as a family
The easiest of all family eating habits to cultivate is eating together. In today’s hectic world, eating together may be a challenge, but it’s worth making the efforts. There are several benefits of eating together. Eating together will help everyone in your family stick to scheduled meal times. Combine this habit with a healthy diet. Make a variety of healthy food choices, preferably food made at home so that family members, especially children do not look for junk food.
Make meal prep a fun activity
For family health benefits, it is essential to lead by example.Make healthy food choices so that your children can follow suit. A great way to promote healthy eating habits is to invite your children to be part of the cooking process. Help them choose the recipe and shop the ingredients. This will go a long way in inculcating healthy food choices in children.
Have no-phone zones
Apart from instilling good and healthy family habits and practices with regards to meals, it helps to turn meal hours into exclusive family hours with no interruptions. Having no phone zones at the dinner table and in the bedroom can encourage your family members to get moving and spend less time sitting. Encourage your kids to play outside. Planning fun activities like play board games and treasure hunts with your children can prove to be highly rewarding.
Be more active as a family
Staying active as a family doesn’t have to be boring! You can let every family member choose one activity for every week. From taking strolls to doing yoga together, from biking to swimming, many fun-filled activities can help you and your family burn some calories, relieve stress, while forming healthy family habits and practices.
Practice hand hygiene
As a family, make sure everyone follows hand hygiene. Wash hands after going to the restroom, before preparing food, after touching a pet, changing a diaper, blowing your nose, coughing, or handling garbage. You can also make a 20-second song so that children thoroughly wash their hands.
Do not skip medical tests
The importance of keeping track of your health cannot be emphasised enough. By undergoing regular medical check-ups you can help your family make informed health care decisions. It can help you catch health problems in the early stages and make lifestyle changes accordingly. Do include dental and eye checkup for yourself and your children in the annual medical checkup. To reap family health benefits, it’s important to take the right precautions, at the right time and make the right changes to avoid the most common health illnesses
Why is family insurance a must?
Illnesses don’t come knocking on the door. So, it only makes sense to have a backup plan in case you or your family member falls sick or needs hospitalisation in case of an accident or a health condition. With medical expenses skyrocketing, a health insurance policy is the best protection cover for a family. A comprehensive health insurance plan will give you that peace of mind regarding your family’s health and your financial well-being.
Disclaimer: The above information is indicative in nature. For more details on the risk factor, terms and conditions, please refer to the Sales Brochure and Policy Wordings carefully before concluding a sale.
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10 Worst Diseases That Smoking Can Cause
Smoking causes diseases but it is one of the most preventable causes of death worldwide. Every puff of a cigarette exposes the body to many harmful chemicals which can cause serious health problems. As awareness of these risks increases, so does the importance of having a reliable health insurance plan to help manage the financial burdens associated with these diseases.
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12 Foods With More Vitamin C Than Oranges
Vitamin C, also known as ascorbic acid, is an essential nutrient that plays a vital role in maintaining overall health. It is a powerful antioxidant that helps protect cells from damage caused by free radicals. Additionally, vitamin C is crucial for the growth, development, and repair of all body tissues. It aids in the formation of collagen, absorption of iron, and the proper functioning of the immune system.
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20 Foods High in Vitamin A: A Guide to Boosting Health Through Diet
Vitamin A is a vital nutrient that plays a key role in maintaining overall health, supporting vision, immune function, skin health, and more. As a fat-soluble vitamin, vitamin A exists in two main forms: retinoids (found in animal products) and carotenoids (found in plant-based foods). Retinoids are readily usable by the body, while carotenoids must be converted into the active form of vitamin A.
Given its essential functions, maintaining adequate vitamin A levels is crucial for both adults and children. A deficiency in vitamin A can lead to significant health problems, underscoring the importance of including vitamin A-rich foods in one’s diet. This article explores the various sources of vitamin A, recommended intake, health benefits, and how to prevent deficiency.
What is Vitamin A?
Vitamin A is essential for several physiological processes. It is found in animal-based foods such as retinol and in plant-based foods as beta-carotene, which the body converts to vitamin A. Recommended daily intake levels differ based on age and gender. Adult men require approximately 900 micrograms (mcg) of vitamin A daily, while adult women need about 700 mcg. Pregnant and breastfeeding women generally require higher amounts to support foetal and infant development.
Role of Vitamin A in Health
Vitamin A is associated with various health benefits, from antioxidant protection to immunity. Below are some of its primary roles:
1. Antioxidant Protection: As an antioxidant, vitamin A helps prevent cellular damage from free radicals, which can lead to chronic diseases and ageing.
2. Immunity: Vitamin A is crucial for maintaining immune function, and enhancing the body’s response to infections.
3. Eye Health: Known for promoting good vision, vitamin A helps prevent night blindness and age-related vision problems.
4. Skin Health: Vitamin A supports skin health by promoting cell growth, reducing wrinkles, and addressing acne concerns.
5. Organ Functioning: It aids in the proper functioning of the heart, lungs, and kidneys.
6. Reproductive Health: Vitamin A plays a role in reproductive health and foetal development, making it essential for pregnant women.
7. Foetal Development: It is critical for foetal tissue and organ development during pregnancy.
8. Teeth and Gums: It contributes to healthy teeth and gums, supporting oral health.
Also Read: 6 Key Pregnancy Care Tips You Should Know
Animal Foods High in Vitamin A
Animal-based foods are an excellent source of preformed vitamin A, which is easily absorbed by the body. Here is a vitamin A foods chart showcasing some common animal-based vitamin A sources.
| Name | Particulars |
| Liver (beef, lamb, chicken) | Extremely rich in vitamin A; 100 grams provide more than 6 times the daily requirement |
| Cod Liver Oil | A tablespoon provides up to 4,500 mcg of vitamin A |
| Dairy Products (Milk, Cheese, Butter) | Source of vitamin A in moderate amounts, especially whole milk products |
| Eggs | Egg yolks contain around 140 mcg per 100 gms |
| Fish | Fatty fish is a good source of vitamin A, particularly retinol. |
| Shellfish | Provides moderate amounts of vitamin A, along with other essential nutrients. |
Vegetables High in Vitamin A
Vegetables, particularly those that are orange, yellow, or dark green, are rich in carotenoids, which the body can convert to vitamin A. Here is a chart listing vegetables that are vitamin A high foods.
| Name | Particulars |
| Sweet Potato | Contains around 1400 mcg per medium potato, providing well over the daily recommended intake |
| Carrot | A single large carrot offers about 1,000 mcg of vitamin A. |
| Spinach | Once cup cooked provides approx. 943 mcg |
| Kale | A cup cooked provides approximately 943 mcg |
| Red Bell Pepper | Provides about 140 mcg per 100 grams |
| Butternut Squash | Offers around 1,000 mcg per cup |
| Collard Greens | Contains 770 mcg per cooked cup |
| Swiss Chard | A good source, with 300 mcg per cup. |
Also Read: Sources of Vitamin D for Vegetarians
Fruits High in Vitamin A
Certain fruits, especially those with orange or yellow pigmentation, are rich in beta-carotene and contribute to daily vitamin A intake.
| Name | Particulars |
| Mango | Contains about 54 mcg of vitamin A per 100 gms. |
| Cantaloupe | A cup of diced cantaloupe provides 270 mcg. |
| Papaya | Offers around 47 mcg per 100 gms. |
| Apricots | Dried apricots are rich in vitamin A, with 96 mcg per fruit. |
| Guava | Contains about 31 mcg per 100 gms. |
| Watermelon | A cup of watermelon offers around 43 mcg. |
Signs of Vitamin A Deficiency and Toxicity
Vitamin A deficiency is relatively common and can lead to symptoms like night blindness, dry skin, poor immune response, and growth delays in children. Severe vitamin A deficiency can cause complete blindness and increase the risk of infections. Here are a few signs and symptoms of vitamin A deficiency:-
1) Irregular white deposits in eyes
2) Delayed Growth (in children)
3) Infertility
4) Infections
5) Night Blindness
6) Lack of quick healing of wounds
If these signs are observed it is recommended to take the required tests and get medications from a doctor.
On the other hand, excess vitamin A, primarily from supplements, can lead to toxicity. Symptoms include dizziness, nausea, and even liver damage in severe cases. It’s essential to balance vitamin A intake and avoid excessive supplementation.
Conclusion
Vitamin A is essential for overall health, supporting skin, vision, immune function, and reproductive health. By incorporating a variety of vitamin A sources—such as liver, dairy, carrots, and leafy greens—one can easily meet daily requirements and enjoy a balanced diet. To safeguard long-term health, consider monitoring your diet and explore a health insurance policy that promotes regular health check-ups and preventive care.
Frequently Asked Questions
1) How can I increase my vitamin A?
To boost vitamin A intake, incorporate foods rich in both retinoids (from animal products) and carotenoids (from plants) into your diet. Add liver, dairy, carrots, and leafy greens to your meals regularly.
2) How do you increase vitamin A absorption?
Since vitamin A is fat-soluble, pairing it with healthy fats (such as olive oil or avocado) can enhance absorption. This helps the body more effectively utilise the nutrient.
3) What are the symptoms of low vitamin A?
Signs of vitamin A deficiency include night blindness, dry skin, increased risk of infections, and, in severe cases, complete blindness. Other symptoms may include delayed growth in children and poor wound healing.
Disclaimer: The above information is indicative in nature. For more details on the risk factor, terms and conditions, please refer to the Sales Brochure and Policy Wordings carefully before concluding a sale.
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