56th GST Council Meeting (3 September 2025): GST waived on all individual health and term life insurance premiums. Effective 22 September 2025 via Notification No. 16/2025 Central Tax (Rate). Covers individual health insurance, family floaters, senior citizen plans, term life, ULIPs, and endowment policies.
Structural removal of an 18% regressive tax on financial protection. Directly lowers premiums for crores of policyholders. Advances IRDAI's "Insurance for All by 2047" vision.