header-search-icon
Become an Advisor

Contact Us right-arrow-white

Login right-arrow-white

RESUME APPLICATION PAY PREMIUM
Fund Performance

Fund Performance

Knowledge Center

Knowledge Center

About Us

About Us

Tools and Calculators

Tools & Calculators

Quick links

Mobile (Download app)
RESUME APPLICATION PAY PREMIUM

What do you want to do?

Quick links

Mobile (Download app)

Download HDFC Life App

Buy plans, track your policy, make renewal payments & monitor fund performance with HDFC Life App, Download Now!

Apple Logo Go to Google Play Store

Make Most of Tax breaks on Offer an Insight for Senior Citizens - HDFC Life

down-arrow
November 05, 2018

Table of Content

 

The Union Budget 2018-19 has given you the chance to decide upon your investment strategy as it brings forth a plethora of benefits to offer to the senior citizens.There are many long term and short term plans that would help the senior citizens to get a break from tax and concession if they invest in them.

Make it short and simple

With the announcement of tax exemption of up to Rs. 50,000 on short term deposits for taxpayers over the age of 60, the idea has taken a toll and has suddenly become popular among masses. Short term funds have become a lucrative option as they also yield substantially higher returns.

With the fixed amount of money in hand it is important for senior citizens to make such investments which would give them substantial amount of money every month for their monthly expenses. In such a scenario the guaranteed interest rates of these plans make them more attractive as well as reliable.

Beware of healthcare emergencies

Healthcare emergency can drain out the funds of especially senior citizens, so they also need to make investment in health insurances. These health insurance plans would not only offer a backup in case of health emergency but it would also provide an opportunity to maximize Section 80D deductions on health insurance premium.

HDFC Click 2 plans The best solution

HDFC Click 2 plans offer many beneficial plans such as retirement policy, saving & investments schemes, and health policy that would not only offer you protection in case of emergency but would also offer considerable exemption in tax. These plans provide financial security at an affordable price. The plans here ensure your family always has comprehensive security. It aims at maintaining the familys standard of living even in ones absence. Furthermore, it offers cover against the 3 uncertainties - death, disease and disability.

The HDFC Click 2 plans offer tax benefits that are eligible under Section 80CCC of the Income Tax Act, 1961. Here you can get up to 1/3rd of the benefit can be taken as tax-free commuted value, as prescribed under section 10(10A) of the Income Tax Act, 1961. The remaining amount (or full amount) can be used to purchase a life annuity from us at the then prevailing annuity rates. With ample number of options HDFC Click 2 plans are there to help you make right choices when it comes to you hard earned money.

Term Plan Articles Term Plan Articles

Investment Articles Investment Articles

Savings Articles Savings Articles

Life Insurance Articles Life Insurance Articles

Tax Articles Tax Articles

Retirement Articles Retirement Articles

ULIP Articles ULIP Articles

Health Plans Articles Health Plans Articles

Child Plans Articles Child Plans Articles

Popular Calculators Popular Calculators

Insurance Advisor Articles Insurance Advisor Articles

Francis Rodrigues Francis Rodrigues

Francis Rodrigues has a decade long experience in the insurance sector, and as SVP, E-Commerce and Digital Marketing, HDFC Life, manages the online sales channel, as well as digital and performance marketing. He has had hands-on experience in setting up sales channels and functional teams from scratch over a career spanning 2 decades.

LinkedIn profile
Author Profile Written By:

Here's all you should know about life insurance.

We help you to make informed insurance decisions for a lifetime.

Income Tax Slabs FY 2025-26 & AY 2026-27 (New & Old Tax Regime)

Income Tax Slabs FY 2025-26 & AY 2026-27 (New & Old Tax Regime)

Check the latest income tax slab rates for FY 2025-26 AY 2026-27 as per Budget 2025. Compare old and new tax regimes and choose the best option for your income.

Union Budget 2025: Key Highlights, Tax Changes, and Economic Impact

Difference between Section 80C and 80CCC

Tax Structure In India: Learn Indian Tax System & Taxation in India

Explore Indias tax structure with HDFC Life. Understand the two main categories: direct and indirect taxes. Gain insights into the various types and the overall Indian Tax System.

Tax Structure In India: Learn Indian Tax System & Taxation in India
Your Guide to Filing Your Taxes Previous
No Tax on Ancestral Jewellery - Purchase From Disclosed Income Next
HDFC life
HDFC life

HDFC Life

Reviewed by Life Insurance Experts

HDFC LIFE IS A TRUSTED LIFE INSURANCE PARTNER

We at HDFC Life are committed to offer innovative products and services that enable individuals live a ‘Life of Pride’. For over two decades we have been providing life insurance plans - protection, pension, savings, investment, annuity and health.

Popular Search

Popular Searches