GST exemption will make insurance ‘more affordable’

In a landmark reform, all individual LIC policies will now be exempt from GST effective September 22, a move expected to make insurance more affordable and strengthen long-term savings for millions of policyholders.

Addressing the annual unit meeting, Senior Divisional Manager of LIC Shimla Division, Dinesh Kumar Sharma, hailed the GST exemption as a “game-changer” that would bring life insurance within the reach of every household. He urged agents and leaders to spread the message widely so families can secure financial protection with LIC.

The meeting was attended by chief guest Dinesh Kumar Sharma and marketing manager Desraj Thakur. Other dignitaries included Senior branch manager Atul Gupta, branch manager Ramesh Rana, deputy manager Sunil Rana and assistant branch manager Sandeep Kumar. The session was conducted by SBA Manoj Kanwar, who spoke on new policies, marketing strategies and organizational growth. Chairman’s Club Member Seema Chaudhary welcomed guests, while Ashok Katoch delivered the vote of thanks.

Outstanding performers of the division were also honoured. In the policies segment, Kamlesh Kumar secured the top spot with 38 policies, followed by Anil Kumar with 35, while Banku Ram and Hemlata shared third place with 21 each. In premium collections, Ashok Katoch ranked first with Rs 29.01 lakh, Sanjay Sood second with Rs 28.71 lakh and Banku Ram third with Rs 14.53 lakh. In the non-single premium category, Kshitij Soni led with Rs 2.64 lakh, followed by Banku Ram (Rs 2.53 lakh) and Kamlesh Kumar (Rs 2.21 lakh).