Vipul Jain December 17, 2013 Share this interaction Share this Facebook 0 Twitter 0 I have paid rs 15000 as premium in case . Would I get benefits under Sec 80c?. Reply to this Response(s) MIC Staff December 19, 2013 : Answered in 1 Day Hi, It depends on the type of Plan you have opted for. Life Insurance: If you have the premium for a Life Insurance Plan for yourself, spouse, dependant parents or children, then the premium paid towards the same till Rs 1 lac is Tax Free under section 80C. Health Insurance: If you have taken a Health Insurance Plan, then the premium that you have paid till Rs 15000 towards a policy for yourself, spouse or children will be Tax Free under section 80D. There is an additional amount of Tax Rebate of Rs 15000 for premium paid towards a health plan for parents and if they are Senior Citizen, then the Tax Rebate would be Rs 20000. Other Insurance like Car Insurance, Travel Insurance, etc. If the premium has been paid towards the Car Insurance, Travel Insurance, etc.then the same does not qualify for any tax deduction. Hence it totally depends on the type of the Insurance Policy you are talking of!. Submit Reply to this Did you find this useful? 0 0
