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Linking Insurance Policies With Aadhaar And PAN Is Mandatory

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Linking Insurance Policies With Aadhaar And PAN Is Mandatory
Aadhaar Linking With Insurance Policy, Insurance Policy Linking With PAN, Insurance, Aadhaar, PAN

Are you holding an insurance policy? then this news is for you. Linking all your Insurance Policies with Aadhaar and PAN card has become mandatory. Either you have a single Insurance Policy or multiple Insurance Policies, all should be linked with your Aadhaar.

If any policy holder dont submit their Aadhaar and PAN card to insurance providers, insurers may hold settlements or claims payments of policy holders until they submit their Aadhaar and PAN number. All the claims are going to be settled through Banks only, there wont be any cash payments in future.

The central government has released gazette notification, in which it has made Aadhaar and PAN/Form 60 mandatory for availing of financial services that includes insurance also.

Insurance Regulatory and Development Authority of India (IRDAI) stated that they had already informed insurance companies and instructed that all life insurers and general insurers have to implement it without waiting for further instructions.

The process of linking Aadhaar to policies would be similar to the banks how they linked aadhaar to bank accounts. This means that insurers would be able to link the numbers either through text messages or online or by visiting the branch.