<h1>Central proposal to exempt individual life and health insurance premiums from 18% GST, states ask safeguards to benefit policyholders</h1> The central government has proposed exempting individual life and health insurance premiums from 18% GST; a state Group of Ministers largely approved lowering or exempting the rate but urged the GST Council to design a mechanism ensuring tax cuts reach policyholders rather than insurers. The panel noted an estimated annual revenue loss of about Rs 9,700 crore from exemption and will submit its report, including states' views and concerns, to the GST Council, which will make the final decision; the proposal forms part of a broader GST reform to two rates and seeks completion by October-end.