No GST On Health, Life Insurance Premium

Mumbai: Union Finance Minister Nirmala Sithaman said in a statement on Wednesday that on Wednesday, the individual life and health insurance premium on Wednesday decided to exempt the premium of the goods and service tax (GST). This will be valid as of the first day of Navratri from 22 September 2025.

This includes the term, ulip or donation and all individual health insurance policies, including family floats and senior citizen covers. The reinsurance of health insurance policies will also be exempted from GST.

Currently, health insurance premiums and period life insurance attract 18 percent GST, the ratio varies for other life insurance categories. The movement aims to make the insurance affordable for the common man and to expand the insurance scope.