The Government must speed up the long-awaited reform process in the insurance sector by passing the Comprehensive Bill on Insurance. Besides increasing FDI limits, the Bill also envisages a host of changes in the Insurance Act in the interest of consumers.
Lowering of service tax and increasing of tax exemptions limit for life insurance premiums can really boost the household savings sector and bring more people under the insurance umbrella.
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Kamesh Goyal, Country Manager & CEO, Bajaj Allianz Life Insurance
