Quote on Group of Ministers (GoM) Backs Centre`s Proposal to Scrap GST on Health, Life Insurance for Individuals by Mr. Jude Gomes, MD & CEO Ageas Federal Life Insurance
Below the Quote on Group of Ministers (GoM) Backs Centre`s Proposal to Scrap GST on Health, Life Insurance for Individuals by Mr. Jude Gomes, MD & CEO Ageas Federal Life Insurance
“ We appreciate the government's suggestion to abolish GST on life and health insurance premiums, as this progressive step will render protection solutions much more affordable and accessible to millions of Indians. Insurance is not just a product, it is an essential safety net that enables people and families to face life with confidence. By abolishing the GST tax, the government has made a customer-centric move that will induce more families, particularly from middle-class and underprivileged sections, to get themselves covered with the proper insurance. This change is also part of the overall dream of 'Insurance for All' by 2047, driving greater penetration in urban and rural India. Affordability is a major driver, but we also think it is essential that we tackle some of the structural issues like the inverted duty structure that still affects industry efficiency and margins. A balanced”
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