Increasing insurance penetration

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INCREASING INSURANCE PENETRATION IN INDIA. Insurance as an industry has secured a vital position in the development of the nation's economy. An.

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'Budget can help increase insurance penetration'

Latin America as a whole has seen average insurance premium growth in the double-digits since , well above the rate recorded in most other regions and .

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Description:Digitisation can make insurance products viable and accessible. Financial inclusion has got another big push with this Budget. The exemption limit for medical expenditure towards certain critical illnesses has been raised to Rs 1 lakh for all senior citizens. Encourage long term savings products: At minimum, the government can consider exempting pure term plans and health insurance from GST or service tax. Discerning insurance companies are making headways in tabling products that appeal to the customers and at the same time, meet their individual needs relieving the customers the burden of having to worry further in case of an accident or any other eventuality. Tweet As expected, Budget focused on the rural economy and the healthcare sector.

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