Remove GST on medical & life insurance policies
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People are taking medical & life insurance policies in INDIA as a security tool not as investment tool. The main objective of taking these policies for service class is to secure their families in any contingency.GOI is charging 18% GST on these plans. For example for a premium of 25000 per annum for 32 years policy, I will pay approx. 150000 as GST.
Dear Sir, as a service class I have already paid income tax on this amount & morever I have taken these policies to secure myself as social security system still a moon away. Kindly consider our request to waive GST on purely life & Health plans that is only social security option currently we have in INDIA.
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