My brother is dependent on me, he is disabled. I want to take a policy so that it can help him after me. Which life insurance policy should I take so that it qualifies for 80DD and will help my brother along with Jeevan Adhaar policy?
Life insurance policies are not covered under Section 80DD. This section is meant to cover the medical treatment and/or maintenance of the disabled. The deduction allowed is Rs 75,000 (if disability is 40% or more) or Rs 1,25,000 (if disability is 80% or more). Any expenditure that you incur towards his treatment and care, such as medicines, hiring an attendant, etc. can be claimed. The premium on his medical insurance policy can also be claimed. In addition, policies such as Jeevan Adhaar, which provide a regular income for the maintenance of the disabled after you, are also covered under Section 80DD.