A father is the backbone of a family and makes every effort to ensure that his family is happy, healthy and safe. To make his day special, you have to thank him for all the sacrifices he has made for his family.
People are very excited about Father’s Day. They are also obsessed with the idea of gifts. Everyone is looking for the perfect gift to show their appreciation to their father and make him feel special. A medical insurance policy will make your father feel special and help you feel that you care about him.
Here are 5 reasons why gifting your dad the right kind of health insurance is a good idea.
1. Covid-19 Coverage
2020 will be remembered for being an important year in history. There has been an outbreak of epidemics for almost half a year. With great fear of the unknown, we have all learned to accept it. As we all know, this is the new norm. But we still have to take care, follow all the guidelines and be ready with a health insurance policy.
You can choose from a variety of online COVID-19 insurance in India, including coronarakshak coverage, coronakavach policy, or even a complete health insurance that covers coronavirus and other diseases.
2. Medical Inflation Protection:
The cost of healthcare is increasing rapidly due to better technology and infrastructure. We have all seen that medical emergencies can be unpredictable and can make a hole in our finances. You can reduce your father’s financial burden by paying reasonable annual premiums for health insurance and providing him quality care.
3. Routine Medical Checkup:
As we age, our risk for various health problems increases. Regular check-ups are essential to ensure that any health problems are caught early in your father’s life. This will help you manage medical conditions that can lead to death later. You can consult an agent to compare different policies on the market, and choose a policy that offers free medical check-up.
4. Lifelong Renewals
Lifelong renewal is one of the best things about health insurance. Even in old age, when the illness becomes more frequent and common, your father may still have coverage. He can renew his policy at any time and it will continue uninterrupted as long as your father is alive, providing him with comprehensive coverage.
5. Tax Benefit
Apart from the coverage you get for health related expenses, one of the main benefits of a health insurance policy is the tax benefits that the insured gets. This is section 80D of the Income Tax Act of 1961. Everyone can get tax benefits from the premiums paid by them, whether they are self-employed or employed.
Alternatively, if you have paid premium you may be able to claim premium deduction. This deduction is in addition to the amount you can claim on the family health insurance plan. This will allow you to give comprehensive coverage to your father while saving you on your taxes.
6. Your Father’s Financial Security
Last but not least, your father’s health insurance provides financial protection in case of an emergency. Medical costs are rising. This is no secret. A medical emergency can put a strain on your father’s financial condition. Your father can be financially secure by taking care of his medical bills with health insurance.
You can go a little unusual this Father’s Day by choosing a gift that will make a real difference to your dad. You can gift your father financial security in case of unforeseen medical emergencies by getting a health insurance policy.