Tuesday, August 30, 2011

Financial Planning basic Rule - 2

Saving tax and making a strong foundation to your Financial planning is very possible we had seen 80C then just have a look at 80D.
This can help you to plug the possible hole in your Ship. Any premium paid against Medical insurance plan gets directly deducted from your income.
Rs.15000/- for premium paid for you ,your spouse & children & additional Rs. 20000/- pa if you are paying premium for your Dependent senior citizen parents.
Why you should have Medical Insurance ?
Many reasons :

1. You don't know when you will require it.
2. Because you are healthy, Fit & Fine today because if you are ill may be you are at higher risk and may be covered at very high price.
3. This will protect your hard earned money from flowing away from you if any emergency happens.
4. Most of the people don't know what is the cover their employer is giving them, weather it is sufficient or not.
5. If you have a family critical illness history you should have Critical illness cover as well before it hits you as well.
These policies should be considered as expenses and pl never think that you had taken it for getting benefit, you may not like it .
This will help you protecting your money getting ill or face casualties.
The insurance plan with tax saving feature in it will help you to build a strong Foundation to your next Journey.
Happy Tax saving.

2 comments:

  1. Health care costs have been rising for several years and people pay cash out of current income, obtain credit, or save up cash reserves. Insurance can streamline our savings and helps in planning our health budget effectively. This way we can plan our money more judiciously and can reap benefits out of it.

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