SBI Life Insurance has welcomed the government’s move to exempt GST on individual life insurance policies and reinsurance thereofcalling it a significant step towards making insurance more affordable and accessible.
In a regulatory filing dated September 4, 2025, the insurer said the reform, which takes effect from September 22, 2025is in line with the sector’s long-term vision of “Insurance for All by 2047.”
The company noted that while the exemption would have a minimal impact of less than 0.2% on its Embedded Valueit expects the change to stimulate demand for life insurance products and support long-term value creation.
“We recognize this as a profoundly meaningful step towards making insurance more affordable and ensuring financial security is accessible to all,” SBI Life said.
The company also informed exchanges that it is aligning its products and processes to ensure a smooth transition to the new GST regime.
