Personal Accident Insurance 80C

11 January 2011 The expenses incurred to get sick if any could be claimed as expenses from accident policy claim. The expenses you are telling is to be claimed if claim is received from mediclaim. Also accident policy is like a loss of profit policy and not in the nature of insurance policy.. Personal Accident Insurance. Personal Accident Insurance policy provides complete financial protection to the insured members against uncertainties such as accidental death, accidental bodily injuries, and partial/total disabilities, permanent as well as temporary disabilities resulting from an accident.. Section 80C of the Income Tax Act allows for deductions up to Rs.1.5 lakh p.a. Under the section, individuals can invest in a number of savings schemes to claim deductions on their taxable income. Section 80C of the Income Tax Act. came into effect on 1 April 2006. It basically allows certain expenditures and investments to be exempt from tax.. HDFC ERGO Personal Accident Insurance policy Premium Calculator Through HDFC ERGO Personal Accident Insurance premium Calculator we can calculate the annual premium based plan opted. HDFC ERGO Personal Accident Insurance Calculator gives you approx amount to be paid during buying new policy and renewing the old policy depending upon the details you have given..

Tax Benefits for Personal Accident Insurance Plan. There is NO tax benefit for the premium paid for personal accident plan under Section 80D. Please understand insurance decisions should never be driven by tax considerations. Does Personal Accident Insurance cover a gap? We have discussed various aspects of personal accident insurance plan.. Often people are in a dilemma as to which insurance plan to choose in order to ensure that their insurance portfolio is secure. Among several queries, many people are often confused about the difference between Personal Accident and Term Insurance and don’t know if it serves their purpose to invest in both or either..

A personal Accident Insurance plan is policies that cover a person from accidental death, accidental disability and several other features. There can be very bad consequences of meeting an accident like death or pause in income, ranging from a few weeks, months to even years.. Personal Accident Insurance is open to everyone from the age of 18 years to 65 years. 7. How do I make a claim? You can make a claim by calling 022-6234 6234 (Accessible from India only) or 022 66384800 ( Local / STD charges apply).. There is common perception that premium upto Rs 1,50,000 on any insurance product like life insurance or Unit Linked Insurance plan is fully allowed.However, this is not correct. The reason for such conclusion is section 80C (3) and 3(A) of the Income Tax Act which specifies which premium is eligible for deduction under section 80C of the Income Tax Act,1961..