Health insurance (Age > 65)

• Guaranteed coverage up to the age of 75
• Offers double protection of prevention against illnesses and cover
• Takes care of spiralling medical costs and medical exigencies
• Cashless hospital network access
• Premium paid up to Rs 20,000 (in a financial year) is eligible for deduction from gross total income.
• Assessees who pay medical insurance premium for their parents can claim an additional deduction of Rs 15,000 under Section 80D. In other words, an individual who pays medical insurance premium for himself and his parents will be eligible to claim tax benefits to the extent of Rs 30,000, i.e., Rs 15,000 (for himself) and Rs 15,000 (for his parents).