Secure Your Future: Why Health Insurance is the Smart Investment for 2025

Mumbai: In an era where healthcare expenses are rising at an unprecedented rate, relying solely on personal finances can be risky. Unexpected medical emergencies can quickly deplete savings, making health insurance an essential safeguard against escalating costs and ensuring access to quality care without financial stress. By investing in health, you are investing in your and your family’s future and in turn, the future of the next generation.

Modern health insurance goes beyond hospitalization, covering OPD consultations, telemedicine, preventive check-ups, and wellness programs. Policies now include maternity care, mental health support, and rehabilitation therapy for holistic coverage. With rising lifestyle diseases like diabetes, hypertension, heart disease, and cancer, financial protection is crucial. Disease-specific policies and critical illness riders ensure long-term security, while preventive healthcare aids early detection and reduces medical costs.

It serves the dual purpose of providing essential healthcare coverage while also offering significant tax benefits under Section 80D of the Income Tax Act. The premiums paid for health insurance are tax-deductible, making it a financially wise investment. Individuals below 60 years of age can claim deductions of up to ₹25,000 annually on their health insurance premiums. For senior citizens, this limit increases to ₹50,000, acknowledging their higher medical expenses.

Mr. Subramanyam Brahmajosyula, Chief Product & Marketing Officer, SBI General Insurance, added, “As the new financial year approaches, taxpayers are preparing for ITR filing in 2025. Choosing between the new and old tax regimes requires careful consideration of income, deductions, and financial goals. While the new tax regime offers lower tax rates with fewer deductions, the old tax regime allows individuals to claim exemptions and deductions, making it beneficial for those with significant eligible expenses. One key deduction available under the old tax regime is health insurance under Section 80D of the Income Tax Act. Taxpayers can claim deductions of up to ₹25,000 on premiums paid for health insurance for themselves and their families, which increases to ₹50,000 if covering senior citizen parents. Additionally, preventive health check-ups up to ₹5,000 are included within this limit.”

SBI General Health Insurance offers affordable, flexible plans tailored to diverse healthcare needs. With extensive coverage, including hospitalization, OPD consultations, maternity benefits, and critical illness, policyholders enjoy strong financial security.

As we enter the new financial year, investing in a health insurance policy is an essential step towards financial health and stability. SBI General Health Insurance offers affordable, comprehensive, and reliable coverage for individuals and families. Health insurance isn’t just an expense, it’s a wise investment in your financial and physical well-being.