Insurance Gets Cheaper: GST Exemption On Life & Health Policies | What It Means For You

In a major reform, the GST Council has exempted both individual life and health insurance premiums, along with reinsurance, from taxation. What does this mean for the common man? Amit Chabra, CBO at Policybazaar, explains how this move could make insurance more affordable, encourage wider penetration across India, and lead to significant savings for families. With average annual health insurance premiums dropping by nearly ₹4,000–5,000 and term plans becoming cheaper by ₹2,000–3,000, this landmark step is set to bring relief to millions. Watch the full discussion to understand how affordability and awareness in the insurance sector could see a big boost.