India Health Insurance - Income Tax Benefits for buying :

The government of India through the Income-Tax Act has exempt insurance premiums and maturity proceeds from income and other taxes.

Below are the relevant sections of the Income-Tax Act.

Section 80C :
Under this section, premium of up to Rs.1 Lakh can be claimed for tax deduction.

Section 10(10)D :
This section specifies that maturity and death benefits are tax-free.

Section 80DD :
Deduction of up to Rs.50,000 from gross total income in respect of medical treatment or premium paid towards a life insurance policy taken for the benefit of handicapped dependent.