Budget expectations: Insurance

27 Jan 2022 , 08:25 PM

“The pandemic has been a catalyst in raising awareness around the need for health insurance, however India continues to remain under-penetrated insurance market. To bring a change in this scenario, we believe considering the ease on taxes and increasing the tax exemption under 80D especially on health insurance premium, can help boost a bit of penetration. Apart from impacting health insurance, considering the increasing natural catastrophes, we also anticipate that segments that are impacted by economic losses if are mandated to opt for fire and property insurance, it can reduce the burden of economic losses.”

The author of this article is Mr. P C Kandpal, MD & CEO, SBI General Insurance

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