The Group of Ministers (GoM) is likely to recommend exempting Goods and Services Tax (GST) on term life insurance premiums and health insurance premiums paid by senior citizens. During a recent mee...
Contrary to popular belief, it’s not impossible for seniors to get life insurance. Review the best senior life insurance companies with our detailed coverage guide.
GST On Health Insurance Premium: The Group of Ministers (GoM) is expected to recommend exempting goods and services tax (GST) on term life insurance premiums and health insurance premiums paid by senior citizens. However, the Official's premiums paid for health insurance coverage of above Rs 5 lakh will continue to attract 18 per cent GST. This long-awaited GST exemption or reduction for life and health insurance has been a key demand from the industry, as it would ease the tax burden on both in...
Goods and services tax (GST) on term life insurance premiums, and premium paid by senior citizens for health cover is likely to be exempted from tax, an official said on Saturday. The GoM to decide on the GST rate on life and health insurance met on Saturday and decided to exempt GST on premiums paid for health insurance with coverage of Rs 5 lakh for individuals other than senior citizens. The final decision in this regard will be taken by the GST Council Officials premiums paid for health insu...
Advantages of buying health insurance for senior citizens from TATA AIG are 1. Medical coverage to elderly people, 2. Pre-medical check-up, 3. Tax benefits. To read more about medical insurance pol...
The benefits of term insurance for senior citizens include financial security, flexible payouts, and tax advantages to ensure peace of mind in retirement planning.
Find the best senior citizen health insurance plans at HDFC Life. Get comprehensive medical coverage for seniors with top-rated policies and ensure their well-being.
stories You may Like ; Resolution seeking statehood for Jammu and Kashmir gets L-G’s stamp of approval: ‘Beginning of healing process’ ; In a 4:1 majority ruling, Supreme Court upheld constitutional validity of Section 6A of Citizenship Act ; India withdraws its Canada envoy, expels 6 Canadian diplomats as row over Nijjar murder escalates
Currently, 18 per cent GST is levied on life insurance premiums paid for term policies and family floater policies.
New Delhi: Term life insurance policies, and senior citizens' health insurance premium are likely to be exempted from GST as most members of a state ministerial panel favoured cutting taxes to benefit the common man, an official said on Saturday. The GoM to decide on GST on health and life insurance premiums in its meeting on Saturday decided to exempt GST on premiums paid by individuals, other than senior citizens, for health insurance with coverage of up to Rs 5 lakh. However, 18 per cent GST will continue to be levied for health insurance co ...