After the 56th GST Council meeting, Union Finance Minister Nirmala Sitharaman announced GST exemption on all individual life insurance policies — including term life, ULIPs, and endowment policies — as well as on individual health insurance, family floaters, and senior citizen policies. Reinsurance for these categories is also exempt. The move aims to make insurance affordable for the common man and expand coverage across India.
#GSTExemption #HealthInsurance #FMSitharaman #gstnews
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