No GST on health insurance soon: Who will benefit? All you need to know

With the aim of making insurance more affordable and broadening coverage, individual life and health insurance policies have been exempted from GST, a change to take effect on September 22.
The exemptions apply to all individual insurance policies, including term life, ULIP or endowment policies and reinsurance. Since 2017, 18% GST has been levied on life insurance.