A major relief news has come out for the insurance holders. The historic decision taken at the 56th GST Council meeting will now be applicable from 22 September 2025, under which 18% GST on health and life insurance has been completely abolished. Now whether you buy Term Life, Ulip, or Endowment Policy – All you have to give is BASE Premium, without any additional tax. As an exercise, GST of ₹ 36 was added to the first ₹ 200 Premium and had to pay a total of ₹ 236. Now the same policy will be available for just ₹ 200. This will make insurance more accessible and economical, especially for the middle class and senior citizens. This decision will strengthen the “Insurance for All by 2047” Vision of the Government of India. According to HSBC’s report, the Health Insurance Premium may decrease by up to 15%. After this news, HDFC Life, SBI Life, LIC and ICICI PRUDINIL were seen in Insurance Stocks like PRDINIL.
Now you will have to take insurance even easier! GST on Health and Life Insurance completely finished | Paisa Live | Now Getting Insurance will be even Easier! GST on Health and Life Insurance is Completely Abolished
