Age is just a number. Just ask someone nearing 60, and you will probably get this response. As a senior citizen, one gets numerous financial benefits from the government and even private companies. Some advantages kick in after you turn 60, while some at 65. Let's look at some benefits for senior citizens under various categories.
Higher limit of deduction for medical insurance premium
It is widely believed that for senior citizens, the probability of higher medical expenses is more than younger family members. Seniors get extra tax benefit on buying health covers.
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