GST is applicable on all insurance plans.
First year GST is 4.5% of the premium.
Next year onwards it comes down to 2.25%.
GST is 1.8% in case is single premium plans like
Single premium endowment plans
Jeevan Ashanti
Jeevan Akshay VII
Bima Bachat.
No GST PLANS
Pradhan Mantri Vaya Vandana plan
