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Trinamool Congress (TMC) leader Sudip Bandyopadhyay on Friday urged the government to withdraw the 18 per cent GST on life and medical insurance premiums. His demand comes amid several opposition leaders supporting senior BJP leader and Union Road Transport Minister Nitin Gadkari request to Finance Minister Nirmala Sitharaman to withdraw the Goods and Services Tax (GST) on the premiums. Soon after the Question Hour in the Lok Sabha, Bandyopadhyay raised the issue, saying taxing insurance premium is "anti-people". The government must withdraw it, the Kolkata Uttar MP said and the demand was backed members of the opposition INDIA bloc parties in the Lower House of Parliament. "The 18 per cent GST charged over life insurance premiums and medical insurance should be withdrawn. This GST is anti-people, it is adversely affecting the people of India," Bandyopadhyay said. "This proposal should be rolled back," he said. MPs from INDIA bloc parties TMC and DMK walked out of the House, alle
With a view to widen the market and foster adequate protection from healthcare expenses, insurance regulator IRDAI has removed the age limit of 65 years for individuals buying health insurance policies. This marks a significant departure from the conventional constraints that limited individuals in securing comprehensive coverage. By abolishing the maximum age restriction on purchasing health insurance plans, the Insurance Regulatory and Development Authority of India (IRDAI) aims to foster a more inclusive and accessible healthcare ecosystem, ensuring adequate protection against unforeseen medical expenses. As per the earlier guidelines, individuals were allowed to purchase a new insurance policy only till the age of 65. However, with the recent amendment, which has been effective from April 1, anyone, regardless of age, is eligible to buy a new health insurance policy. In a recent gazette notification, IRDAI said, "insurers shall ensure that they offer health insurance products t