BS Insurance Round Table 2020: No major impact of tax change, say experts

Six top life insurance executives brainstorm on the impact of tax exemption removal and the upcoming IPO of Life Insurance Corporation. Edited Excerpts:

Given that individual taxpayers have been given the option to do away with tax incentives and pay a lower flat rate, what will be the impact for the life insurance industry?

Yashish Dahiya: I don't think the protection segment will be that impacted. But one of the reasons for buying an investment product was tax incentive. From the consumer perspective, some attractiveness will go away in the future years, not this year, and there'll be some continuity for a few years. It is both an opportunity for the industry to look more at innovation, look more at protection, but it's a