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Why Medical Insurance ?

Why Medical Insurance ? This is a typical question many of us have those who are covered by their companies they are employed in.
Well, first lets talk from the Tax savings. Whatever premium that you are paying for covering you and your family upto 35000/- INR is deductible from your taxable income. Please note, this is over and above your 100,000 that you are saving under section 80ccc. So thats again a saving also.

Now, the actual reason as to why one should take a medical insurance.
The days are gone, when medical treatment was affordable with your own savings. One definintely needs Insurance.
Those who are covered under insurance by your companies, please note that this is only until you work for them. The day you quit or retire, the insurance stops. So lets say that you retire at 60, do you really think a Insurance company will give you a health insurance, especially when you are at a age you would be needing it the most. So the best would be to take an insurance now itself when its easy for you.

ICICI has a good product which invests your money into an ULIP and that actually covers you till 75 if i am not wrong. There are many companies who are having wonderful health plans. My suggestion would be to go and get you and your family covered and also save some tax

Comments

  1. hmmmmmm... is ICICI still having health plan which is a ULIP ? if not which else company is having such a product such health plans seem quite helpfull :)

    ReplyDelete

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