How do I get the maximum tax saving benefit on the premium payable under the Tax Gain Health Advantage Plan?
The premium payable under this plan is fixed at Rs.15,000 (which is the new limit for tax deduction available under section 80 D) and the amount of coverage changes depending on the age and the number of members covered. This amount is fully deducted while computing your taxable income. Hence, you save Rs.5099* on your health insurance and the effective cost is Rs.9901* only. * For highest income tax slab of 33.66% (including 10% surcharge for income above Rs. 8.50 Lakh and education cess @ 2%). Click here to view sum insured table.
