GST Relief: Medical Cost Rider Makes Insurance Cheaper

The government’s GST relief on medical cost riders is set to make health insurance policies more affordable for policyholders. By reducing the Goods and Services Tax on these add-ons, insurance companies can pass on the benefits, helping individuals and families get better medical coverage at lower costs.

Different types of insurance policies, including health, critical illness, and personal accident plans, are expected to become more accessible. This move not only eases the financial burden of healthcare but also encourages more people to invest in comprehensive insurance plans.

Policyholders should check with their insurers about the revised pricing and available riders to take full advantage of the GST relief, ensuring they get enhanced protection without extra financial strain.