Service Tax Implications of Term Insurance Post October 1st 2013

POSTED BY Msalot ON September 27, 2013 12:11 pm ONE COMMENT

I believe service tax is going to increase for Term Insurance Post October 1st.  Request knowledgeable people to please shed light on this.

Will this affect old policies or this is for all policies started after October 1st?

I heard this from my friends and also from a call center rep at Policy Bazaar. I am intending to buy a policy soon, but if above news about service tax increases the premium then i may as well pre pone my decision and buy a policy by 30th September.

One reply on this article “Service Tax Implications of Term Insurance Post October 1st 2013”

  1. ashalanshu says:

    Dear Msalot, who said that Service Tax ‘ll increase on term plans? Any effect ‘ll be there only on new policies (endowment types policies). Please wait and purchase after 30th Sept. Even today if you pay prem. policy ‘ll be notified in all probability in oct 2013 and hence it ‘ll be as per new rules.



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