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KASMA, a mutuelle senior provided burial assistance to nonmember seniors with no family or surviving family members who have little money left over after paying funeral expenses. For the period TYE April 30, 2013, KASMA charged applicants a $150 membership application fee and, upon death of a member, KASMA paid a sum to the funeral home directly for funeral expenses in accordance with Korean tradition. KASMA covered its obligations under these arrangements by maintaining a segregated account and including in that an aggregate amount of cash or liquid securities sufficient to cover the covered obligations.
Expenses on preventive check-up paid by cash are qualified for income deduction but health insurance premiums should not paid in cash.
Health Insurance Policies – Best Option for Tax Saving Investment
Health Insurance Policies is apt option for investment guarding an individual against high medical cost and also save tax under section 80 D.
Corporate group Health Insurance Policies taken by companies on behalf of its employees deductions or tax rebate is not applicable, unless paid by employee through salary deductions or by as online payments through debit cards, credit cards and internet banking.
By providing tax exemption on investments for the government of India encourages the people to avail quality healthcare treatment.
Medical treatments are becoming unaffordable in case of major hospitalisation to common man. Investing in Health Insurance Policies with sufficient cover is the only way out which can help family avail quality medical care and the value from such is incomparable with incomes from mutual funds, making it one of the finest Saving Investment.