The government’s decision to eliminate Goods and Services Tax (GST) on health insurance plans has led to a significant surge in demand, with uptake for higher-value health insurance policies rising by 38 per cent, according to a report by Policybazaar.
The report highlighted that more individuals are now prioritising financial protection against escalating healthcare expenses and unexpected medical emergencies.
Policybazaar noted that the “Zero GST policy has driven a 38 per cent increase in high-value health plans, with growing interest also observed in add-on covers.”