Tax exemption for medical expenses plus#

The premiums paid towards health insurance policies for senior citizens (those ageing 60 years and above) are usually on the higher side due to several factors including age and increased affinity for health issues. This value shall be applicable on the base cover premium only and not to additional optional benefits like ACI, Accident cover, Joint life cover and Voluntary Sum Assured Top-Up.

Tax exemption for medical expenses plus#

the total premiums paid plus underwriting extra premiums paid plus loadings for modal premiums exclusive of all applicable taxes, cesses or levies. Benefit available with special exit value -Total premium paid inclusive of any extra premium but exclusive of all applicable taxes, cesses or levies & modal extra. GST) will be the Special Exit Value payable at the age of 55 years in case the policy holder wishes to completely exit the policy. Total premiums paid towards the policy (excl. ~1 Condition for special exit value: Option to receive all premiums paid back at the age of 55 years and post which the life cover also gets terminated.

A non-linked non-participating individual pure risk premium life insurance plan| The premium calculated as per Standard premium for 30 year old healthy male, non-smoker, 40 years policy term, 40 years premium payment term (exclusive of GST) for Max Life Smart Secure Plus Plan and is rounded off from Rs.