health insurance policy to a specific individual. The underwriting process considers several factors that could cause trouble and assess how likely it is that the insured will make a costly claim. This helps the insurance company modify the policy premiums accordingly to ensure there is minimum loss...
IRDAI Seeks Input from the Insurance Industry on GST Rate The Insurance Regulatory and Development Authority of India (IRDAI) is seeking feedback from the insurance industry on the appropriate Goods and Services Tax (GST) rate for insurance products. The current GST rate on health insurance pre...
At the time of making a claim under the Policy, you must provide us with certain GST information relevant to both your Policy and your claim. If you do not provide us with this information we may deduct up to 1/11th of the amount otherwise payable in settlement of your claim. CONDITIONS...
undertaking which can set off only two thirds of the paid input GST because one third of its sales is exempt from GST the insurance company has to pay one third of the corresponding GST in addition to the net claim amount and, consequently, can set off only this third as input tax ...
So we filed another claim and she got paid again. It sounds awful but it isn’t like she cheated the system.” Contrasted with another respondent, “I still have a lot of damage from the earthquakes, look see here, here, here or there. The insurance only paid for some structural ...