That’s the reason why the government gives you various tax benefits after 60, even on senior citizen health insurance. Even a single case of hospitalisation can make a big impact on your savings. But in absence of any other financial help, the income might not be enough to lead a good life. However, the good thing is, many health insurance tax benefits are given to senior citizens owing the fact that most people have a limited source of income after 60. So, once you enter your golden years, your sources of income might include pension money, rental income, interest on savings, fixed deposits, etc. And you continue to bear this responsibility even after your earning days are over. It’s the responsibility of every citizen of the country to declare their income and pay tax accordingly.
