Optimize Your Income Tax Outgo by March 31 with Health Insurance
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March 31 Deadline: Optimize Income Tax with Health Insurance Benefits
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CNBC TV18•20-03-2026, 11:43
March 31 Deadline: Optimize Income Tax with Health Insurance Benefits
•Health insurance offers tax benefits under Section 80D, allowing deductions up to ₹25,000 for self/family and ₹50,000 for senior citizen parents.
•Preventive health check-up expenses up to ₹5,000 are also eligible for deduction within the overall limit.
•Experts advise using the tax-saving window to reassess existing coverage, considering rising healthcare costs and medical inflation.
•Srikanth Kandikonda of Manipal Cigna Health Insurance suggests evaluating sum insured and exploring comprehensive options like family floater plans and critical illness riders.
•Udayan Joshi of SBI General Insurance recommends a base cover of around ₹10 lakh, with higher coverage based on city, medical history, and preferred hospitals.
