GST cut lifts life insurance premium to record Rs 4.6 lakh crore in FY26 - financialexpress.com

The life insurance industry reported a three-fold jump in growth, with new business premium (NBP) rising 16% year-on-year to a record ₹4.60 lakh crore in FY26. The growth was primarily driven by the Goods and Services Tax (GST) rate cut from 18% to nil on individual life insurance policies, which triggered strong demand, particularly for pure protection products like as term insurance. FY26 also m…