GST Exemption on Life Insurance to Boost Financial Protection: PNB MetLife

By – Nilesh Kothari, Chief Financial Officer, PNB MetLife

“The GST Council’s decision to exempt individual life insurance policies from GST is a landmark development for India’s insurance sector. This progressive measure directly addresses the need to make life insurance more accessible and affordable, helping to ensure that financial protection reaches every household. By lowering the cost of essential coverage, the government has empowered individuals to prioritize safeguarding their family’s future. At PNB MetLife, we see this as a significant step towards enhancing insurance penetration in the country. This decision will undoubtedly strengthen the nation’s financial resilience.”