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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 paragraph28 words

Things to Remember while Buying Medical Insurance

The deduction is available only when you pay the premium for the insurance cover of self, spouse, dependent children below 25 years, and parents whether dependent or not.

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Second 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.

First paragraph26 words

Key Takeaways

You can claim up to ₹5,000 for preventive check-ups under 80D. Section 80D focuses on health insurance, while Section 80C covers investments and savings.

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Second paragraph32 words

Deduction on Preventive Healthcare Check-ups

Deduction up to ₹ 5,000 is allowed for preventive health check-ups for self, spouse, children or parents which is a part of the overall deduction one can claim under Section 80D .

First 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.

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Second 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.

First 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.

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Second 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.

First paragraph89 words

3. Invest in health insurance plan

One can avail tax saving benefits on the premiums paid towards a health insurance under Section 80D. These deductions can be availed on health insurance premiums paid for self, spouse, children, and parents. You can claim up to ₹25,000 for on health insurance for yourself, your spouse, and your children. On health insurance for your parents, who aren’t senior citizens, you can claim an additional ₹25,000 under section 80D, while for parents who fall under the senior citizens category, you can claim an additional ₹50,000.

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Second 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.