Understanding Tax Benefits Of Health Insurance: A Smart Investment Strategy
This blog emphasizes the often overlooked tax benefits of health insurance in the realm of personal finance and investment. Beyond its primary role of providing financial security in medical emergencies, health insurance offers substantial tax advantages. The article discusses the importance of health insurance, including financial protection and access to quality care, and highlights legal obligations in some countries. It delves into the tax benefits available under Section 80D of the Income Tax Act in India, explaining deductions for self, family, and parents, and preventive health check-ups. It concludes by addressing common FAQs about tax deductions, age limitations, and necessary documents for claiming tax benefits.