- The GST Council eliminated the 18% GST on individual health and life insurance premiums in September 2025.
- The government confirmed that this exemption has reduced premium costs for policyholders.
- The Insurance Regulatory and Development Authority of India (IRDAI) is monitoring insurers to ensure the GST benefits are passed on to consumers.
- All general and health insurance companies confirmed that premiums were not increased after the GST cut and the benefit was fully passed to policyholders.
- The Department of Financial Services held meetings with insurance stakeholders to ensure consumers received the benefits of the GST exemption.
Source: financialexpress.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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