The surge in claims and the attendant payouts that both life and medical insurance companies faced this fiscal has led to a steep 30% rise in premiums as reinsurers look to recover their losses. Though insurance premiums in India are still lower compared to many markets, the hefty premiums could impact demand at a time when awareness for life and health insurance is high.source https://economictimes.indiatimes.com/industry/banking/finance/insure/insurance-industry-seeks-cut-in-gst-increase-in-80c-investment-limit-in-budget-2022/articleshow/89013196.cms
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