Personal accident insurance
This query is : Resolved
07 August 2014
Respected Sir, an assessee has taken a life cum personal accident insurance with LIC of India, on which the premium on life insurance is Rs.8000/- while on accident insurance is Rs.225/-. Can the assessee claim total premium of Rs.8,225/- u/s-80C? I haven't found anywhere about claiming of accident insurance premium but only mediclaim or life insurance premium (excluding late fees, if any). Please clear my confusion.
Prof. Bajaj
(Expert)
08 August 2014
If it is an accidental rider, then it can be claimed u/s 80C.
If it is a separate accident policy, it can be claimed u/s 80D.
If it is a separate accident policy, it can be claimed u/s 80D.
08 August 2014
Sir accidental rider means the policy which is along with life insurance policy & not a separate one??
Prof. Bajaj
(Expert)
09 August 2014
Rider is not a separate policy. Its an added feature in the same policy.
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