New Delhi, March 31 -- March marks an important phase in the financial calendar because taxpayers review overall investments and eligible deductions before the end of the month. The period serves as a key time when health insurance provides families with both tax benefits and medical coverage protection. Medical coverage premiums can help enable both tax optimisation and increased healthcare protection for family members.

In this regard, this blog explores how taxpayers may claim up to Rs.75,000 deductions from a health insurance policy for family and its primary eligibility aspects.

Section 80D of the Income Tax Act, 1961, allows taxpayers to get tax deductions for premiums paid towards health insurance policies. This provision is appl...