@businessgoamagazine < Continued from Page 42
leaving no doubt for any odd direct or indirect interpretation. 3. WHEN: Concerning conditions such as time, situations, environment of dispute, disorders, breakdowns, Acts of God etc. 4. WHERE: Concerning determination of disputes settlement place, country, territory, arbitration authority – local or foreign. 5. WHY: Express intention, detailed agreement. 6. HOW: Concerning detailed method and < Continued from Page 43
If your policy doesn’t have this facility then you will have to pay all the medical costs by yourself and then the amount will be reimbursed by the company which may take time and can be a tedious process. 9. Tax benefits Health care plans provide tax benefits. Premiums paid towards your health care policy are eligible for tax deductions under Section
procedures of settlement of disputes, manner in which concerned parties could find common ground through determination of language, measures to be taken to avoid litigation, agencies and consultants to contract. A foolproof arbitration agreement proves the validity of the saying, ‘A stich in time saves nine.’ In the first instance the above tool will exclude the litigation in courts. Secondly, the parties to the dispute would not only maintain their reputation but also save time and money.
Thirdly, the stakeholders at large would benefit not only the goods and services of the companies without additional costs that the companies intend to absorb which otherwise the customers would have to bear but also their taxes which would have to support the maintenance of the government’s legal machinery.
80D of the Income Tax Act, 1961. For a policy for yourself, your spouse, your children and parents below the age of 60, you can claim a deduction of up to INR 25,000 per year from your taxable income. If you’ve also purchased a policy for a parent who is over the age of 60, you can claim an additional deduction of INR 50,000. In today’s fast-paced lifestyle, health insurance is an important requirement. It is essential to safeguard
yourself and your loved ones against any unforeseen event that has the potential to leave you financially handicapped. The pandemic has been an eye-opener for most people, reiterating why a health insurance cover is indispensable at all times. While many people are already covered under some form of health insurance or another, it is important for them to go through the offerings of their policy to understand how beneficial
Conclusion The Bhatia–BALCO cases have made a very controversial history and the opinions supporting and opposing are
equally prevalent in the legal circles even to this day. The literature on both these cases has multiplied by leaps and bounds. Reputed judges and highly erudite lawyers have spent time and energy poring over the legal problems for several years. If it were to be turned into a movie it will involve huge number of people, the parties to the case, their lawyers, their various agencies both in India as well as other countries such as UK, France, the US etc., and the United Nations itself it will be if unfortunately, they have to seek treatment for coronavirus. Don’t underestimate the importance of health insurance in India. There are several health insurance policies in the market that offer comprehensive coverage for you and your loved ones at an affordable premium. So, research well take the help of experts and choose the best health insurance policy as per your requirements. Stay healthy, stay insured!
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