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Tax Benefit For Husband & Wife On A Single Health Insurance Policy

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15 May, 2021 by  Sanjay Viswanadha

Hi Sir/ Madam,


My wife and self both are working and want to take a family health floater for both+kid. I have a question with regard to tax benefits both can avail on a single policy:


a)If I take a family floater health insurance policy can the husband and wife split the said premium for the single health family floater health insurance.

b) Both individuals will be issued separate tax certificates basis the respective premiums paid by us.



Regards

Sanjay V



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Health Insurance

1 Answer

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15 May, 2021

Dear Sanjay

Theoretically it is possible but require lot of explanation because have common receipt .

My advise is given below :

  1. Pay premium through two cheques for example premium is rs 50000 then pay two cheques of rs 25000 each from husband and wife account .
  2. As you shall give two cheques hence can get receipt with mention of both cheques .
  3. Moreover , your bank statement would have debit to insurance .


You can always claim tax rebate under section 80 D by showing bank debit and common receipt .


Shailesh

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15 May, 2021
Sanjay Viswanadha
Hi Shailesh, Appreciate your quick and detail revert. Is it advisable for me to take an individual policy and wife+kid a family floater OR any day family floater is good to go. Regards Sanjay Viswanadha
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17 May, 2021
Dear Sanjay Family floater is recommended .
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