Section 80D of the Income-tax Act, 1961 allows for tax deduction for senior citizens on medical expenses, whether the expenses were incurred by themselves or their children

You could be tempted to relinquish your ULIP policy if it performs poorly, but before you jump to a decision, evaluate its surrender value, performance, charges, and alternatives.

Insurers may look for other solutions, such as medicines or equipment for the mobility impaired beyond which policy seniors need once the draft insurance amendment bill is passed.