Can I avail income tax exemption for my parent’s health policy?

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Besides claiming exemption on premium paid for self, spouse and dependent children, you are entitled to claim tax deductions of a total of Rs.30000 for parents for the financial year 2015-16.Uninsured senior citizens 80 years and above can claim deductible medical expenses up to Rs.30000. For more information, refer to Section 80D of the Income Tax Act and your health insurance policy.