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Government should raise tax
exemption limit for health insurance and introduce fiscal measures to help
increase its penetration, say industry officials.
The suggestions forms part of
insurance sector wish-list for the Budget 2016-17 to be
presented in Parliament on February 29.
"There is an impending need
for further tax exemption as health insurance is still not adopted as a
necessity for one's self and family.
"Further exemption will
encourage people to get a health insurance policy with extended covers which is
a necessity in today's time given the current medical inflation in the
country", Future Generali India Union
Budget 2016 Insurance MD & CEO K G Krishnamoorthy Rao told PTI.
In the Union Budget 2015-16,
government had increased the limit for income tax exemption for health
insurance.
Rao said it helped the company
see fair increase in number of people opting for policies with up to Rs 10 lakh
cover.
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Full Article Over Here : Business
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