Quick Summary
Following the Centre's landmark decision to waive the 18% GST on individual life and health insurance, the sector is witnessing a strong surge in consumer interest and policy enquiries. The tax exemption, part of the broader GST 2.0 reforms that took effect on September 22, 2025, appears to have made insurance more affordable - triggering both new enquiries and sales. According to data shared by Policybazaar, one of India's largest online insurance marketplaces, there has been a 61% rise in ins
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FAQ :
The Centre has waived the 18% GST on individual life and health insurance premiums, effective September 22, 2025.
Policybazaar reported a 61% increase in insurance enquiries and a 56% rise in average daily leads in the first week of the new GST regime compared to the same period last year.
Yes, all insurers featured on Policybazaar have confirmed that the full GST benefit has been passed on to customers, resulting in lower premiums.
Industry experts anticipate accelerated growth in life and health insurance segments in the coming quarters due to improved affordability and increased awareness of financial protection.
The full impact of the GST waiver is expected to be visible by the end of October.
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