best health insurance plan in india advisors
insurance to be part of your life
Sometimes, lots of individuals opt for life insurance in the belief that they have enough life coverage to address all life and health related issues. But, this is completely inaccurate and might prove a costly oversight. Today, different types of insurance products are available in the market and hence, one can get easily confused. To avoid this confusion, one needs to understand the basic difference between life insurance and health insurance. It is important for a buyer to know what he pays for and what he receives in return. Generally, these insurance products lumped together due to the fact that they both cover an individual.
Life Insurance
- Purpose:- Covers your life
- Affordability:- Least Expensive
- Tax Benefits:- Policyholders can avail tax benefits under Section 80C and Section 10 (10D) of the Income Tax Act, 1961. Additionally, the premiums paid for the critical illness benefit also qualifies for a deduction under Section 80D.
- Suitable for:- Those who have a mortgage or other debts, dependents including spouse, child etc.
Types of life insurance:-
- Term insurance
- Endowment plans
- Unit linked insurance plans
- Pension Plans
- Money-Back Plans
Consider a scenario, if you have a mortgage of Rs 50,000 and credit card debts of Rs 50,000 that you want to be paid off if you die, then you need a life insurance with at least Rs 1,00,000 as death benefit to meet this goal.
Health Insurance
- Purpose:- Covers the cost incurred when insured is hospitalized or expenses towards treating illnesses.
- Affordability:- Expensive as compared to life insurance
- Tax Benefits:- Tax exemption for paying the premium under Section 80D of the Insurance Act.
Types of health insurance:-
- Individual health plans
- Family floater policy
- Surgery and critical illness policy
- Pre-existing disease cover
- Preventive healthcare
- Senior citizen health insurance
pramod kumar
health insurance/life insurance
E- Mail: secpramod@gmail.com



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