Need A Financial Product Forums Tax Savings How much tax deduction is allowed for family floater policy

This topic contains 1 reply, has 2 voices, and was last updated by  Trupti Ben 1 year, 12 months ago.

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    Trupti Ben

    I want to avail tax benefit under section 80D against family floater insurance policy. I want to know whether I can claim benefit for a joint policy or I will have to take a separate policy for parents. The amount of total premium is more than Rs. 15,000. Please guide


    Shery Chadha

    A benefit in this regard can be availed in single policy as well. If your parents are senior citizen, eligible amount for combined premium is Rs. 35,000. In case of non-senior citizen parents, eligibility on combined premium is Rs. 30,000.

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