In a recent ‘Health Insurance Survey’, about 1,400 young people within the age group of 25-35 years, successfully busted some age-old myths concerning the youth and insurance . The survey proved that a good percentage of millennials are not only making an effort to educate themselves about the importance of insurance, but they also believe that it is essential to buy health insurance in India. However, almost half the number of people who participated in the survey revealed that the primary reason to buying health insurance was to claim tax deductions - and not to avail the other benefits it has to offer.
Although it is true that under Section 80D of the Income Tax Act 1961, you can claim tax-saving benefits, it should not be the only reason to purchase it. For example, suppose you live in Hyderabad, which is experiencing a rise in respiratory disorders, allergies, bronchitis, and pulmonary diseases due to heavy air pollution. In that case, consider buying health insurance in Hyderabad. A good insurance policy will considerably cover your medical expenses and help you with cashless services 24/7.
