Budget 2019: Irdai seeks tax incentives for annuity, term plans
Updated : June 13, 2019 05:38 PM IST
Sitharaman will present her the Union Budget, her first, for the fiscal year 2019-20 on July 5 after the Narendra Modi-led Bharatiya Janata Party won a second term with a clear mandate.
Irdai chairman Subhash Chandra Khuntia said the regulator has specifically asked for some tax incentives for annuity products in order to encourage more people to save and participate in the products.
Khuntia said Irdai has also demanded a similar provision for term insurance plans.
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