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<h1>GST Scheme Classifies Insurance Services: Life, Health, Motor, Marine, and More Under Specific Service Codes</h1> The classification of insurance and pension services, excluding reinsurance services, under the GST Scheme. It categorizes various service codes, detailing their specific coverage. These include pension services, life insurance, accident and health insurance, motor vehicle insurance, marine and aviation insurance, freight and travel insurance, property insurance, and other non-life insurance services. Each category specifies the risks covered, such as liability, property damage, health expenses, and financial losses, while also noting exclusions like portfolio management and trust services. The classification is based on the United Nations Central Product Classification.