Need A Financial Product › Forums › Insurance › Is premium on accident insurance policy allowed for tax deduction

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  • October 30, 2014 at 2:17 pm #48192
    Anonymous
    Inactive

    Last year I opted for an accident policy from Star Health for Rs. 20 lakhs. I have two questions related to this. One, is the premium on the policy allowed as deduction under section 80D? Two, this year I will be paying an annual premium of Rs. 6,500. Is there any other insurance provider in the market who is providing the insurance at low premium than Star Health and has high claim settlement ratio?

    October 31, 2014 at 9:29 pm #48193
    Sameer Kapoor
    Participant

    The premium is not allowed as a deduction. Do you find any problem with Star Health or is there any specific reason to make a shift?

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