North India Statesman
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Be it the insurance of the vehicle or health insurance, our pocket becomes loose every year while filling their premium. But now there is a big relief news for you. The government has cut the GST on insurance, but the biggest concern was whether the insurance companies will allow this benefit to reach the common man or keep it in their own pockets?
To eliminate this concern, Finance Minister Nirmala Sitharaman herself has come to the ground.
What is the ‘strict order’ of the Finance Minister?
Speaking at an event, the Finance Minister made all insurance companies Warning in strict and clear terms Has given He has said that the full advantage of the cut in GST Customers have to be given. Companies have to ensure that the benefit of the reduced rates appears in the premium of every policy holder.
In simple language, this means that insurance companies can no longer make more premiums with you by making an excuse.
How much will your pocket affect?
This decision is a big relief for all of us, especially for middle class families.
- Car insurance: Now the annual insurance of your car or bike will be cheaper than before.
- Health Insurance: Expensive installments of health insurance will now decrease slightly.
- Life insurance: The premium of your term plan and other life insurance policies may also decrease.
The purpose behind this move of the government is clear – it wants insurance and cheaper so that every common man in the country can easily buy it and keep himself and his family safe.
What do you have to do now?
Next time you buy any insurance policy or him Renew Get it done, check your premium amount very carefully. Make sure the company has given you the benefit of the reduced GST. If you feel that the company is not doing this, you can complain about it.
This decision will not only reduce the burden on your pocket, but will also ensure that the relief by the government reaches you directly, not in the treasures of the companies.
