GST exemption to make insurance more affordable: Experts

‘The Goods and Services Tax (GST) exemption on health and life insurance will make protection affordable, accessibleand attractive forIndian families.

- TBG NETWORK

Speaking about the reform, Amit Chhabra, Chief Business Officer at Policybazaar, told ,”For the customers, itisan extremely beneficial move because they are getting an 18 per centinstant discount on health insurance and life insurance.”Chhabra said the government's decision will not only reduce costs but also help in increasing awareness. “I would feel that the other important aspect is that the awareness will significantly go up now. Govt has come out and endorsed that there is no GST nowon health insurance and life insurance. I feel this is an extremely positive move because the Govt is saying that it is a mandatory productand it must be bought by every citizen of the country,” he said.