GST: Learn about Goods and Services Tax
Details of GST rates that will be applicable are mentioned below:
Product Type | Applicable on | GST (July 1, 2017 onwards) |
---|---|---|
Term Policy | Premium payable | 18% |
Unit Linked Insurance Policy | All applicable charges | 18% |
Riders | Premium Payable i.e. Accidental Death Benefit Rider | 18% |
Health Insurance Policy | Premium Payable | 18% |
Endowment Policy | First Premium | 4.50% |
Endowment Policy | Premium Payable i.e. Regular Premium | 2.25% |
Single Premium Annuity Policy | Premium Payable | 1.80% |
Answers to commonly asked questions on GST
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