Parity with NPS, separate tax deduction, What insurance sector wants from-Budget 2020

Guest | Last updated: 29 July 2020

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The Indian insurance sector is urging the government to implement measures in Budget 2020 to boost insurance penetration, which remains low. Key demands include tax parity with the National Pension Scheme (NPS) for pension policies, separate tax deductions for life insurance premiums, and increased tax limits to make policies more affordable and attractive to consumers.

Union Budget 2020 needs to launch about proposed measures to make insurance policies higher affordable and consumer-friendly, insurance companies have requested. According to the Indian Insurance Regulatory and Development Authority (IRDAI) annual report, insurance penetration of India remains one o

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