Insurance Regulatory and Development Authority of India (IRDA
of India) has made mandatory Aadhaar Number and Pan Card/Form 60 for all Life
Insurance policies i.e. Life Insurance, General Insurance and Health Insurance for
existing Customer and Prospective Customers with immediate effects and
instructed to all Insurance Companies working in India to ask existing customers
to submit the same without any delay and update the same into their records.
Insurance Regulatory and Development Authority of India (IRDA
of India) has clarified in its circular no. IRDAI/SDD/MISC/CIR/248/11/2017
dated 8th November 2017 this move has taken based on Central Government vide gazette notification dated 1st June
2017 notified the Prevention of Money-laundering (Maintenance of Records)
Second Amendment Rules, 2017 making Aadhaar and PAN/Form 60 mandatory for
availing financial services including Insurance and also for linking the
existing policies with the same.
If you are existing Customer with any insurance company submits the copy of
Aadhaar Card, Copy of Pan Card/Form 60 without any delay at nearest branch of
the insurer. These requirements also implied for taking new insurance policies.
Other Financial intuitions like Bank, Mutual
Fund, Share Market, PPF, and EPFO already made these requirements mandatory.
The decision of Regulator created tough task
for Life Insurance Corporation of India as they have highest number of Policy
Holder in Country i.e. approximately 29 Crores.
Please note that last date to submit your
Aadhaar, Pan Card/ Form 60 is 31st December 2017.
For more information Customers may call toll
free number or nearest Branch of the respective insurer.
0 Comments