Aaadhar Linking Mandatory for Insurance Policies

By | November 10, 2017
(Last Updated On: November 10, 2017)

Insurance Regulatory and Development Authority of India

Ref : IRDAI/SDD/MISC/CIR/248/11/2017

8thNovember. 2017

CIRCULAR

To Life and General insurers (including Standalone Health insurers)

Sub: The Prevention of Money Laundering (Maintenance of Records) Second Amendment Rules, 2017

Central Governmenl vide gazette notification dated lst June 2017 notified the Prevention of Money-laundering (Maintenance of Records) Second Amendment Rules, 2017 making Aaadhar and PAN/Form 60 mandatory for availing financial services including insurance and also for Inking the existing policies with the same

The Authority clarifies that, linkage of Aadhaar number to lnsurance Policies is mandatory under lhe Prevention of Money-laundering (Maintenance of Records) Second Amendment Rules,2017.

These Rules have statutory force and, as such, Life and General insurers (including Standalone Health insurers) have to implement them without awaiting further instructions.

Member (life)

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