Premium Tax Benefit (80C/80D)
Calculate income tax savings on life and health insurance premiums under Section 80C and Section 80D. Find your annual tax benefit on all your insurance payments.
Insurance Premium Tax Saving Calculator
Section 80C (life) and Section 80D (health) — annual tax saving on insurance
Term, endowment, ULIP, LIC premiums — shared with other 80C investments
Max Rs 25,000 deductible (Rs 50,000 if self is senior citizen)
Tax deductions available under old regime only. New regime does not allow 80C or 80D deductions. Consult a CA for exact tax computation.
Insurance premiums are one of the most accessible tax deductions. Health insurance (80D) saves Rs 4,500–7,500/year at 30% slab for a Rs 15,000–25,000 premium. Including parents' health insurance doubles the deduction to Rs 50,000 (Rs 25,000 for self + Rs 25,000 for parents under 60). Adding senior citizen parents raises it to Rs 75,000 total — a Rs 22,500 tax saving at the 30% slab.
Insurance Premium Tax Deductions — Section 80C and 80D
Insurance premiums offer some of the most accessible tax deductions in India. Under the old tax regime, life insurance premiums qualify for Section 80C deduction (up to Rs 1.5 lakh total), while health insurance premiums qualify for Section 80D deduction (up to Rs 25,000 for self and family, plus up to Rs 50,000 for senior citizen parents — maximum Rs 75,000 total). This calculator computes your exact annual tax saving across all your insurance premium payments.