So, if you have a health insurance policy of Rs. 5 lakh, you can go in for a top - up plan with a sum assured of Rs. 15 lakh with Rs. 5
lakh as the deductible.
So if the health insurance policy offered by the employer has Rs 3 lakh sum assured and an employee feels that it will not meet his / her requirements, he / she can purchase a top up with Rs 3
lakhs as deductible.
Not exact matches
It would have reimbursed Rs 1
lakh on the first claim and dismissed the next
as it does not exceed the
deductible.
The premium you pay for the term life insurance plan is tax
deductible up to INR 1.5
Lakhs per year
as per Section 80 C of the income tax act.