Budget should bring on par tax treatment of pension products of life insurance with similar products on other platforms
Tax treatment should be based on nature and objective of the product rather than the platform, which will ensure a level playing field
The insurance industry is seeking higher tax exemptions, focus on e-payment and compulsory home insurance in the upcoming Union Budget that will help in increasing insurance penetration in India
The government should take steps to create awareness about the importance of insuring home
Most non-life insurance companies have taken a hit on their profitability in the first half of the current fiscal owing to the rising underwriting losses
The animus between hospitals and insurers would also incidentally end when managed Medicare takes roots in the country.