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

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November 05, 2018

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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.

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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.

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Vishal Subharwal Vishal Subharwal

Vishal Subharwal heads the Strategy, Marketing, E-Commerce, Digital Business & Sustainability initiatives at HDFC Life. He is responsible for crafting and ensuring successful implementation of the overall organisation strategy.

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