The INDIA bloc parties’ protest against the imposition of 18% GST on life and medical insurance premiums is absolutely justified. India is already the country whose citizens pay the highest out-of-pocket expenses for health crises in the world. Senior citizens who have taken health insurance are now paying the highest GST rates in the world. How does the government intend to attain the goal of “insurance for all by 2047”, when it is instead ensuring the unaffordability of insurance to most?

“The average percentage of renewal of retail health insurance policies is at 65 per cent – 75 per cent. From this, it is very much evident that most of the policyholders are not able to pay the premium due to frequent hike in insurance premiums and very high rate of GST.”

~ Shashi Tharoor, MP (LS)