Page 347 - Ebook health insurance IC27
P. 347
Sashi Publications
Frequently asked questions
'FAQ'
Q. Is Health Insurance the same as Life Insurance ?
No. In case of Life Insurance claim under a policy is paid on the death of the
policyholder or maturity of the policy. But in case of Health Insurance it pays for all
medical expenses incurred for treatment of any disease in the hospital.
Q. Are Maternity/Pregnancy related expenses covered under Health Insurance
plans?
No. Maternity/Pregnancy related expenses are not covered in a Health Insurance
plan. However, in group insurance plans often cover maternity related expenses.
Q. What is the tax benefit available in Health Insurance ?
Tax benefit available under Section 80D of the income tax act 1961. Tax payer can
avail an annual deduction of Rs. 15,000 from taxable income for payment of Health
Insurance premium for self and parents. For senior citizens, there is extra deduction
of Rs.5000.
Q. Is a medical checkup necessary before buying a health policy?
It depends on the Insurance company. Generally a medical checkup is necessary
for a new health insurance policy for customers above the age of 40 or 45 years.
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