the Qs
the Qs

Is it possible to have both a corporate health insurance policy and an individual health insurance policy simultaneously in India?

Insurance
Insurance Q
Yes, it is 100% possible and it is required to get an individual health insurance policy by yourself because most of the time the corporate health insurance policy is inadequate if you're not a part of the senior management. In such a case, getting a separate health insurance policy will make more sense. Also, do remember that the corporate health insurance premium is a part of your CTC. However, you cannot claim it for any income tax benefits. But if it is your own health insurance policy, then yes, you can claim deduction under section 80D and save up to 7,800 rupees in taxes just for yourself and family.
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the Qs

Is it possible to have both a corporate health insurance policy and an individual health insurance policy simultaneously in India?

Yes, it is 100% possible and it is required to get an individual health insurance policy by yourself because most of the time the corporate health insurance policy is inadequate if you're not a part of the senior management. In such a case, getting a separate health insurance policy will make more sense. Also, do remember that the corporate health insurance premium is a part of your CTC. However, you cannot claim it for any income tax benefits. But if it is your own health insurance policy, then yes, you can claim deduction under section 80D and save up to 7,800 rupees in taxes just for yourself and family.
Rectangle 5937

Wait..would you like to get more like this?

Join 12,000+ readers who receive our insights decoding Personal Finance twice a week, so you can make the most out of your money.
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No Spam. Only Finance

Recent Posts

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ULIPs combine insurance and investment, but hidden charges significantly lower returns compared to mutual funds. Understand IRDAI’s new restrictions on promoting ULIPs as investment products.

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Exploring the highest and lowest income tax rates across G20 countries and discovering how different nations tax their citizens, with India's highest rate at 30%.

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Index funds make investing easy by tracking a market index, helping your money grow steadily. They offer lower fees and built-in diversification, providing a simple way to build long-term wealth.

Can you explain the major changes in capital gains taxation from the Budget 2024? I’m trying to figure out how these updates will impact my investments.

How much emergency fund should I have, and where to save it? Should I keep it in a separate account or invest?

Honestly, on the conservative side, one should have at least 12 months worth of living expenses as emergency savings and you cannot just create this once and forget about it.…

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Why join Dime's Tax Strategy Masterclass?

Comprehensive

Practical

Case Studies

This isn’t a normal masterclass. You will get a comprehensive hands-on experience of various “Tax Strategies” with our proven case-study based approach.

Get access to in-house built powerful Old vs. New Tax regime calculator, tax handouts, and more.
Thousands have benefited you can too!
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2000+ People have already saved Taxes