insurance accessibility

‘Paid Rs 5,467 GST…’: Finfluencer questions high tariffs on insurance premium renewals

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‘Paid Rs 5,467 GST…’: Finfluencer questions high tariffs on insurance premium renewals

There is a growing demand to reduce or eliminate the current 18% Goods and Services Tax (GST) rate on life and health insurance policies. The high GST rate on insurance premiums poses a significant obstacle, especially for individuals with limited incomes. The combination of high premiums and GST makes insurance products inaccessible to many. Ajit … Read more

Budget 2024: Higher tax exemption limit to reduction in GST rate, what is insurance sector expecting this time

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Budget 2024: Higher tax exemption limit to reduction in GST rate, what is insurance sector expecting this time

Union Budget 2024: Indian insurance firms have been expecting various tax exemptions from the Central government in the upcoming Union Budget to improve the appeal and accessibility of insurance products, thus encouraging wider adoption across the country. Insurers specialising in life coverage are advocating for tax relief on annuities and a reduction in the goods and … Read more