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
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.