Health Insurance Is Now Cheaper! But Terms And Conditions Apply*
Nikhil Jha of Hercules Insurance says several insurance companies have begun providing health insurance covers without GST, but with risk assumption or the cover start date starting September 22.
In a significant relief proposal for individual policyholders, the GST council had exempted GST on individual health and life insurance, with the measures set to be effective starting September 22, 2025. Several health insurance companies have already rolled out health insurance policies without charging GST. But, with a rider, coverage starts from September 22.
"ICICI Lombard's webpage says that health insurance is now GST free. Buy today- coverage starts September 22." Niva Bupa too exempts GST but states that the policy will start September 22. Tata AIG provides an option to the customer to start the policy from September 22 to avail 0% GST.
Screenshot Niva Bupa
Nikhil Jha, founder at Hercules Insurance Advisors said that several insurance companies have begun providing health insurance covers without GST, but with risk assumption or the cover start date starting September 22. Companies will complete the back-end work for onboarding the customer, however, the customer will need to risk no coverage up until then, he said.
