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GST Council Delays Decision On Tax Reduction For Life, Health Insurance Premiums

ABP News

The GST Council on Saturday deferred its decision on reducing the tax rate on life and health insurance premiums, according to officials. The GoM also recommended exempting GST from health insurance premiums paid by individuals, excluding senior citizens, for policies with coverage up to Rs 5 lakh. However, premiums for health insurance policies offering coverage exceeding Rs 5 lakh will …

Insurance Tax Council Senior Citizens Cent Gst Premiums

3 days, 17 hours ago

GST Council defers decision on lowering tax on health, life insurance premiums

Live Mint

The GST Council on Saturday deferred decisions on a tax rate cut on life and health insurance premiums and a tax rate overhaul meant to raise revenue collection as two ministerial panels decided to deliberate further before recommending changes to the federal indirect tax body, three persons aware of discussions said. Chaudhary, who is also the convenor of the ministerial …

Insurance Tax Council Rate Meeting Gst Gst Council

4 days, 1 hour ago

55th GST Council Meeting: Raises tax on used car sales; postpones debates on insurance, 'sin' products

New Indian Express

The 55th Goods and Services Tax Council meeting, held in Jaisalmer, Rajasthan, under Finance Minister Nirmala Sitharaman on Saturday, deferred discussions on the much-anticipated proposal to restructure GST on insurance premiums. The GST Council also postponed discussions on the widely discussed rate rationalisation for various consumer items, including so-called ‘sin’ products. Under the current GST framework, e-commerce platforms face specific …

Council Gst Insurance Premiums Gst Council

4 days, 1 hour ago

GST council defers decision on lowering insurance premium rates

New Indian Express

JAISALMAR: The 55th GST Council meeting held on Saturday concluded without any major decisions being taken. The much-anticipated decision on reducing GST rates for health and life insurance premiums has been deferred, as the Council believes further discussions are required before moving forward. The Group of Ministers on insurance has recommended a complete waiver of GST on premiums paid towards …

Rate Gst Rate Rationalisation Defers Decision Council Defers Council Defers Decision

1 week, 1 day ago

International, domestic insurers push into catastrophe-hit US property markets

Live Mint

* Rising losses from natural disasters see some insurers cut cover in catastrophe-hit states * Homeowner premiums have soared, 50% rise not uncommon, broker says * Lloyd's of London insurance market has stepped in, has biggest market share By Carolyn Cohn and Noor Zainab Hussain LONDON, - International and domestic insurers are pushing into the U.S. market for hard-to-protect homes, …

Insurance Florida Market Property States California Premiums

1 month ago

GST Council’s December Meet: Waiver of levy on health, life insurance premiums on agenda

Live Mint

The GST Council will convene its 55th meeting on December 21 in Jaisalmer, Rajasthan, to address crucial policy changes, including possible tax relief on health and life insurance premiums. The council, chaired by Union Finance Minister Nirmala Sitharaman and including state finance ministers, is expected to also deliberate on rate reductions for essential goods, as per a report by PTI. …

Insurance Council Rate Gst Gst Council Gom

1 month, 1 week ago

Dutch health insurance: what you should do now to stay on top

Dutch News

It’s time to start thinking about whether you should change health insurance company next year. All Dutch health insurance companies have announced their premiums for 2025 so that means you can now switch to a different company. Check out what is on offer This year, consumers have a choice out of 70 basic policies offered by 20 different health insurance …

Insurance Check Provider Basic Dutch Health

2 months ago

West Bengal's relentless efforts pay off as Centre considers GST exemption for health insurance premiums

The Hindu

West Bengal Chief Minister Mamata Banerjee claims that the Centre's likely decision to exempt Goods and Services Tax (GST) on term life insurance premiums and premiums paid by senior citizens for health coverage is the result of sustained efforts by the State Government. The Chief Minister shared a letter she had written to the Union Finance Minister in August, warning …

West Bengal

2 months, 1 week ago

Government orders probe as car insurance premiums rise by a fifth in TWO years

Daily Mail

The Government has demanded answers to why the cost of car insurance has risen by 21 per cent in the past two years. When it rains: Transport secretary Louise Haigh wants to know why car cover costs have risen It comes as motor insurance premiums have grown by an average of 21 per cent since June 2022, according to Financial …

Money Two Years Insurers Rising Cost Premiums Rise Louise Haigh Insurance Premiums

3 months, 2 weeks ago

GST Council delays decision on insurance premiums to next meeting: Report

India Today

The wait for relief on health insurance premiums just got a bit longer as the GST Council has postponed its decision to cut the Goods and Services Tax on health and life insurance. The GST Council meeting was expected to bring some relief to individuals, especially senior citizens, by reducing the GST rate applied to health insurance policies. The council …

Health Insurance Council Rate Gst Premiums Insurance Premiums

4 months, 3 weeks ago

Mamata urges Sitharaman to rollback GST on life, health insurance premiums: 'Highly anti-people...'

India TV News

West Bengal Chief Minister Mamata Banerjee wrote to Union Finance Minister Nirmala Sitharaman over the Centre’s decision to impose 18 per cent GST on life insurance and health insurance policies terming it as anti-people, and urged her to roll it back. Mamata writes to Sitharaman "With deep anguish, I am writing to you regarding the imposition of 18 per cent …

Health Life Mamata Minister Sitharaman Gst Insurance Premiums

5 months, 2 weeks ago

Allstate seeking 34% rate increase for California homeowners insurance

LA Times

The Colorado fire burns behind a house off Highway 1 near Big Sur in January 2022. Allstate is seeking to raise its California homeowners insurance premiums by an average of 34% — which would be the largest rate increase this year amid the state’s insurance crisis. If approved by the state’s Department of Insurance, the rate hike would affect more …

Insurance Homeowners California State Rate Increase Farm

5 months, 2 weeks ago

Budget 2024: Health insurers seek more attractive tax incentives—and a regulator

Live Mint

In the interim budget for 2024-25 presented in February, finance minister Nirmala Sitharaman increased the government’s allocation towards the health sector by nearly 14%. “To enable better retail health insurance penetration, the government can consider categorising them under a separate HSN code and lowering the tax to 5%," says Parimal Heda, chief investment officer, GoDigit General Insurance. The tax on …

Health India Healthcare Industry Tax Budget Health Insurance

6 months, 1 week ago

Record Year For Life Insurance Sector: Policies Jump, 31% Increase In Premium, Check Latest Details

News 18

The Life Insurance Council has released updated industry business numbers for May 2024. New business premiums expanded from Rs 23,448 Crs in May 2023 to Rs 27,034 Crs in May ’24, with YTD collections growing even more from Rs 36,043 Crs to Rs 47,293 Crs this year. According to data released by the Life Insurance Council, the life insurance industry …

Growth Insurance Life Premium Premiums Crs Lic

7 months ago

Tips & Tricks for Lowering Car Insurance Prices in 2024

Hindustan Times

In 2024, owning a car isn't just about mobility or status; it's also about managing costs, especially when it comes to car insurance. Understanding Car Insurance Costs Before getting into the tips, it’s crucial to understand what factors influence your car insurance premiums. Car Modifications: Any modifications that enhance a car’s performance or aesthetics might increase insurance prices due to …

Insurance Cars Car Costs Hindustan Times Your Car Premiums

8 months, 3 weeks ago

New insurance surrender value rules to come into effect on April 1. Details here

Live Mint

Insurance regulator Insurance Regulatory and Development Authority has released a set of new regulations in relation to the surrender value of insurance policies. According to the latest guidelines, surrender values for life insurance policies are set to decrease if the policies are surrendered within three year. If the policy is surrendered between the fourth and seventh year, a total of …

Policy Total Total Premiums Insurance Surrender

9 months, 2 weeks ago

6 Reasons Your Health Insurance Claims May Be Denied

News 18

Imagine facing a medical emergency or a sudden property loss, only to have your insurance claim denied. It’s crucial for policyholders to thoroughly understand their insurance policies, disclose all relevant information truthfully and follow the necessary procedures when filing a claim to minimise the risk of denial. Health insurance claims can be denied for various reasons and here are six …

Medical Health Insurance Claim Denied Insurance Policy

1 year ago

Why is it so hard for California drivers to get insurance?

LA Times

As if high gas prices weren’t making life miserable enough, California drivers are being buffeted by higher auto insurance premiums — if they can find coverage at all. Big name insurers have been saying for months that they “can’t get the rates they need from the state Department of Insurance,” said Mike D’Arelli, executive director of American Agents Alliance, a …

Insurance Drivers California Rate Commissioner Proposition Increase

1 year, 1 month ago

Menzis increases health insurance premiums by €5.50 per month

NL Times

Cooperative Menzis will increase the premium for basic health insurance by 5.50 euros next year. On Budget Day, the government said it expected premiums for basic health insurance to rise by “approximately” 12 euros to an average of 149 euros per month. Next year, OHRA customers will pay 145.60 euros per month for mandatory insurance. The health insurance premium for …

Health Insurance Premium Month Increase Euros Premiums

1 year, 3 months ago

How do I earn any bonus from a participating insurance policy?

Live Mint

I am a homemaker with two children—aged six and nine. When it comes to participating plans, I wanted to know how the cash value of a participating insurance policy grows over time? The benefit of a participating policy is that it not only provides guaranteed protection but also gives returns in the form of bonuses, which can contribute towards achieving …

Financial Bonus Participating Policy Participating Plans

1 year, 3 months ago

There Is a Simple Way to Lower Your Home-Insurance Bill. It Is Also a Risk.

Live Mint

Homeowners in search of relief from rising insurance bills are offering to pay more out of pocket in the event of fire, theft or other damage to their property. While the standard home-insurance deductible typically ranges from $500 to $1,000, according to an analysis of millions of policies by digital insurance marketplace Matic Insurance, more homeowners are choosing higher deductibles. …

Natural Disasters Homeowners Hurricane Damage This Year Policies Premiums

1 year, 6 months ago

What is general insurance?

Deccan Chronicle

General insurance refers to a category of insurance policies that provide coverage for various non-life risks faced by individuals and businesses. Unlike life insurance, which focuses on providing financial protection in the event of death, general insurance offers protection against unforeseen events such as accidents, property damage, liability claims, theft, natural disasters, and more. In India, there are several common …

India Policy General Natural Disasters Health Insurance Property Damage Medical Expenses

1 year, 8 months ago

What are the tax benefits of health insurance policies?

Live Mint

Health insurance is a form of insurance that covers medical expenditures incurred by an individual for long-term well-being. Pankaj Vashishtha, CEO & Co-Fouder, Policy Ensure Health insurance policies in India offer individuals several tax benefits under Section 80D of the Income Tax Act. Under Section 80D of the Income Tax Act, 1961, you can claim tax deductions for the premium …

Health India Benefits Policy Insurance Income Tax Income Tax Act

1 year, 9 months ago

Relief should be given on tax that affects insurance costs say industry bodies

The Independent

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. This relief could, for example, support people living in …

Insurance Relief Buildings Rate Nhs Biba Tax Ipt

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Articles for Premiums, search results for policies

GST Council Delays Decision On Tax Reduction For Life, Health Insurance Premiums

GST Council defers decision on lowering tax on health, life insurance premiums

55th GST Council Meeting: Raises tax on used car sales; postpones debates on insurance, 'sin' products

GST council defers decision on lowering insurance premium rates

International, domestic insurers push into catastrophe-hit US property markets

GST Council’s December Meet: Waiver of levy on health, life insurance premiums on agenda

Dutch health insurance: what you should do now to stay on top

West Bengal's relentless efforts pay off as Centre considers GST exemption for health insurance premiums

Government orders probe as car insurance premiums rise by a fifth in TWO years

GST Council delays decision on insurance premiums to next meeting: Report

Mamata urges Sitharaman to rollback GST on life, health insurance premiums: 'Highly anti-people...'

Allstate seeking 34% rate increase for California homeowners insurance

Budget 2024: Health insurers seek more attractive tax incentives—and a regulator

Record Year For Life Insurance Sector: Policies Jump, 31% Increase In Premium, Check Latest Details

Tips & Tricks for Lowering Car Insurance Prices in 2024

New insurance surrender value rules to come into effect on April 1. Details here

6 Reasons Your Health Insurance Claims May Be Denied

Why is it so hard for California drivers to get insurance?

Menzis increases health insurance premiums by €5.50 per month

How do I earn any bonus from a participating insurance policy?

There Is a Simple Way to Lower Your Home-Insurance Bill. It Is Also a Risk.

What is general insurance?

What are the tax benefits of health insurance policies?

Relief should be given on tax that affects insurance costs say industry bodies