Tax Benefits Under Future Generali Health Insurance Plans
Published On Jun 18, 2021, Updated On Jul 02, 2021
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Investing in a health insurance plan is a wise way of saving your taxes and availing several tax benefits. A health insurance policy shields you against any future medical expenses and at the same time saves your taxes under section 80D of the Income Tax Act. The increase in inflation in the medical and health care sector has led individuals to spend a good fortune from their pocket, resulting in the draining of their savings. To save yourself from such a situation, you must purchase a health insurance plan on time which meets your requirements and is a financial fit for you.
Future Generali insurance company provides its customers special tax benefits on purchasing a health insurance policy. It offers a wide range of health insurance plans at affordable premiums to its policyholders. The plans are available for individuals, senior citizens, families, and newborns. A wide range of top-up plans is also available to enhance the benefits of your existing policies.
About Future Generali Health Insurance
Future Generali General Insurance is a tie-up between the Future Group of companies and the Generali group. Founded in 2007, the company has managed to establish a trustworthy base among its customers. The policies by Future Generali Health Insurance are customized and designed to meet the demands of the different sections of the customers. Let us look at some of the basic features of the Future Generali Health Insurance company:
- It has a network of 5,100+ linked hospitals that are meant to provide cashless treatment facilities to its policyholders.
- The claim settlement ratio of the company was 82.96% in FY 2019-20
- Future Generali Health Insurance provides lifelong renewability of policies to its customers.
Future Generali Health Insurance Tax Benefits
By purchasing health insurance you can get tax-saving benefits on the premium that you pay. Future Generali Health Insurance offers you these tax deduction benefits under section 80D of the Income Tax Act. It offers a tax deduction on premiums paid as Rs. 25,000 for individuals and Rs. 30,000 for senior citizens in a policy year.
Benefits of Future Generali Health Insurance
Future Generali Health Insurance can be your preferred choice for purchasing health insurance as it serves the following benefits to its customers:
- It has an in-house claim settlement team that works efficiently for a smooth claiming process.
- The wide network of linked hospitals provides cashless treatment facilities to its policyholders.
- The company provides automatic restoration of sum assured if it gets exhausted on the claims made during a policy tenure.
- The sum insured by the insurer ranges from Rs. 1 Lakh to Rs. 1 Crore, which can be chosen as per the requirements of the individual.
- The company provides portability benefits. In case you are not satisfied with the services of the other insurers, you can switch to Future Generali Health Insurance easily.
Exclusions In Future Generali Health Insurance Plans
Below is the list of incidents and exclusion of the policies by Future Generali Health Insurance:
- Ailments that arise within the first thirty days from the start of the policy.
- Non-allopathic treatments are not covered under these policies.
- AIDS, AIDS-related, and congenital illnesses are not covered.
- Hospitalization expenses that are incurred within the first thirty days of the inception of the policy are not taken care of.
- Injuries due to drugs or alcohol intake are not paid for in the policy.
After purchasing the policy, you must go through the documents clause by clause during your free-look period. You must be aware of the inclusions and exclusions in your policy. Future Generali Health Insurance has over 125 branches across the Indian subcontinent and is known for its customer-friendly services. Future Generali Insurance provides various other exclusive products apart from health insurance. It has a strong customer base and is reliable when it comes to being someone’s choice for their health insurance policies.
Advantages of Buying Health Insurance From Future Generali
Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.