Voluntary Health Insurance Scheme & Qualifying Deferred Annuity Policy
Voluntary Health Insurance Scheme
It is a kind of public medical insurance, which mainly protects the insured's hospitalization medical expenses, and the insured can enjoy tax deductions. The terms of voluntary health insurance "standard plan" products are determined by the government, so the VHIS products of various insurance companies have highly similar terms, setting minimum requirements for medical insurance products. On the basis of this, the "flexible plan" raises the upper limit of compensation for detailed items or adds additional medical protection to upgrade the protection.
Qualifying Deferred Annuity Policy
An insurance policy
(a) under which a regular payment is receivable by an annuitant during an annuity period and
(b) that is certified by the Insurance Authority to be in compliance with the specified criteria published by the Insurance Authority.
You may go to the Insurance Authority’s website for List of QDAP eligible for tax deduction