How government is over-taxing your insurance for GST bounty

This is one pinch we all feel every time we pay the premium for our life and health insurance policies. The prohibitive 18% Goods and Services Tax (GST) adds to the high premium that insurers are charging. In a country like India, where insurance penetration is low, the high tax rate discourages people from getting insured or opting for higher cover. This over-taxing of the people comes even as th…