It’s your duty to take care of parents as they grew old. As parents grow old, they are prone to diseases and hospitalization can be very costly. This is why your parents badly need health insurance. If your parents are senior citizens, make sure there’s health insurance to protect them from very high hospitalization bills.
This is why your parents need health insurance
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You get a tax deduction up to Rs 25,000 a year on premiums you pay for health insurance plans for self + spouse + kids, under Section 80D. If you avail health insurance for parents who are senior citizens, the maximum deduction on premiums under Section 80D is Rs 50,000 a year. Be Wise, Get Rich.
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