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

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    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?


    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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