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Start Young, Pay Less, Stay Secured

Coverage for spouse Block your premium rate Covers 40 critical illness

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Second paragraph11 words

Start Young, Pay Less, Stay Secured

Coverage for spouse Block your premium rate Covers 40 critical illness

First paragraph28 words

Popular Searches

How to File Income Tax? Section 80C Tax Benefits Old vs New Tax Regime LTCG Tax on Investments Tax Saving Options for Salaried Income Tax Rebate under 87A

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Second paragraph28 words

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How to File Income Tax? Section 80C Tax Benefits Old vs New Tax Regime LTCG Tax on Investments Tax Saving Options for Salaried Income Tax Rebate under 87A

First paragraph16 words

Family Shield: Enhanced Protection

3 Plan options Life cover till 99 years Steady income benefit Block your premium at inception

100.0%

Second paragraph16 words

Family Shield: Enhanced Protection

3 Plan options Life cover till 99 years Steady income benefit Block your premium at inception

First paragraph13 words

Fixed Returns, Zero Risks & Worries

4 Plan options Life cover + Guaranteed benefits Accidental death benefit Premium protection cover

100.0%

Second paragraph13 words

Fixed Returns, Zero Risks & Worries

4 Plan options Life cover + Guaranteed benefits Accidental death benefit Premium protection cover

First paragraph61 words

Tax Savings - Top Selling Plans

We bring you a collection of popular Canara HSBC life insurance plans. Forget the dusty brochures and endless offline visits! Dive into the features of our top-selling online insurance plans and buy the one that meets your goals and requirements. You and your wallet will be thankful in the future as we brighten up your financial future with these plans.

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Second paragraph61 words

Tax Savings - Top Selling Plans

We bring you a collection of popular Canara HSBC life insurance plans. Forget the dusty brochures and endless offline visits! Dive into the features of our top-selling online insurance plans and buy the one that meets your goals and requirements. You and your wallet will be thankful in the future as we brighten up your financial future with these plans.

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Tax Planning Income Tax Calculator TDS Vs TCS Section 80C What Is ITR Tax Concepts Section 80D Section 24 80DDB What is MAT? ITR-3 Form

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Second paragraph26 words

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Tax Planning Income Tax Calculator TDS Vs TCS Section 80C What Is ITR Tax Concepts Section 80D Section 24 80DDB What is MAT? ITR-3 Form

First paragraph28 words

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Term Insurance Tax Benefit TDS for Professional Fees Income Tax Slab FY 2025-26 HRA Calculator TDS on Rent What is Income Tax Return? Income Tax for NRI

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Term Insurance Tax Benefit TDS for Professional Fees Income Tax Slab FY 2025-26 HRA Calculator TDS on Rent What is Income Tax Return? Income Tax for NRI

First paragraph62 words

Deductions on Health Insurance Premium Paid for Parents

An individual can claim a deduction of up to ₹ 25,000 for insurance of self, spouse, and dependent children. Additionally, a deduction is allowed on the insurance of your parents as well. If parents are below 60 years of age, the deduction is capped at ₹ 25,000, whereas in case of parents aged 60 or more, the cap is at ₹ 50,000.

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Second paragraph68 words

Section 80D of Income Tax Act

Section 80D of the Income Tax Act provides tax deductions on medical insurance premium paid for self, spouse, parents, and dependent children. Individuals and HUF can claim this tax deduction. The deduction limit changes with age. Section 80D provides a deduction of ₹25,000 for self, spouse, and dependent children. An additional deduction of ₹25,000 is available for premium paid for parents aged less than 60 years.

First paragraph50 words

Health Insurance

An additional deduction of up to ₹25,000 is available for premiums paid for parents, which increases to ₹50,000 if the insured parents are senior citizens. Where both the taxpayer and parents are senior citizens, the maximum deduction can go up to ₹1,00,000 in a financial year.

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Second paragraph68 words

Section 80D of Income Tax Act

Section 80D of the Income Tax Act provides tax deductions on medical insurance premium paid for self, spouse, parents, and dependent children. Individuals and HUF can claim this tax deduction. The deduction limit changes with age. Section 80D provides a deduction of ₹25,000 for self, spouse, and dependent children. An additional deduction of ₹25,000 is available for premium paid for parents aged less than 60 years.

First paragraph71 words

Health Insurance

Health insurance is a critical component of a sound financial portfolio, as medical emergencies can significantly impact financial stability. But the benefits of a health insurance policy are not just limited to this purpose. Under Section 80D of the Income Tax Act, 1961, a deduction of up to Rs 25,000 is allowed in a year in terms of the premium paid towards a health insurance policy of self, spouse, children.

43.6%

Second paragraph68 words

Section 80D of Income Tax Act

Section 80D of the Income Tax Act provides tax deductions on medical insurance premium paid for self, spouse, parents, and dependent children. Individuals and HUF can claim this tax deduction. The deduction limit changes with age. Section 80D provides a deduction of ₹25,000 for self, spouse, and dependent children. An additional deduction of ₹25,000 is available for premium paid for parents aged less than 60 years.

First paragraph63 words

Deduction for Medical Expenditure on Self or Dependent Relative for the Treatment of Specified Diseases under Section 80DDB

In case of individuals and HUFs below age 60, the deduction is capped at ₹ 40,000. The amount being the expenses incurred towards the treatment of specified medical diseases or ailments for the individual or any of their dependents. For a HUF, such a deduction is available with respect to medical expenses incurred towards these prescribed ailments for any of the HUF members.

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Second paragraph72 words

Section 80D of Income Tax Act

If any insurer that is self, spouse, or parents, are above 60 years of age, the limit for deduction increases up to ₹50,000. If parents are more than 80 years old i.e. super senior citizens and do not have health cover, deduction up to ₹30,000 is allowed on medical expenses incurred for them. The maximum deduction available to individuals is ₹1,00,000 and to HUFs is ₹50,000.