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Insurance Some more time to link Aadhaar with insurance policy

Some more time to link Aadhaar with insurance policy

For fresh policies, insurers and agents have to ensure that clients link their Aadhaar with insurance policies within six months from the commencement of the policy.
Team Cafemutual Mar 20, 2018

IRDAI has clarified that insurance companies and agents have some more time to link Aadhaar details of their clients with insurance policies. 

Earlier this month, the Supreme Court has extended the deadline to link Aadhaar with bank accounts and other financial services, such as mutual funds and insurance, from March 31, 2018 until the court issues further notice.

However, for new insurance policies, IRDAI has asked insurance companies and agents to insist their clients to link their Aadhaar number and PAN/Form 60 within six months from the commencement of the policy. 

Last year, the ministry had directed fund houses to link Aadhaar number with mutual fund folios before December 31, 2017. Later, the government had extended the deadline by three months, i.e., March 31, 2018.

 

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