The life insurance industry is awaiting more clarity around the proposed GST rate cuts on individual policies, Co-Chairperson, Insurance Awareness Committee (IAC-Life), under the aegis of Life Insurance Council. Addressing media in Chennai, he said India ranked 10th globally in the life insurance market with a penetration rate of 3.2% and the committee’s continued efforts under the Sabse Pehle Life Insurance 2.0 campaign aim at moving India from awareness to action — ensuring life insurance became not just a known option but also a trusted financial essential across every Indian household.
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