The talks also cover potential funding mechanisms for the scheme, including the use of disaster relief funds or small deductions on utility bills, according to a government official cited by Reuters.
The order follows a similar demand against New India Assurance, signaling a broader clampdown on GST treatment of co-insurance and reinsurance premiums.
LIC posted a sharp inflow boost after GST relief took effect, while industry growth is being driven by larger ticket sizes amid declining policy counts.
