AADHAAR IS NOW MANDATORY TO GET INSURANCE


    


All general, life and standalone health insurers must link existing and new policies with customer ‘Aadhaar and PAN with immediate effect, insurance regulatory body IRDAI said. The decision comes while the supreme court is hearing a batch of petitions challenging the validity of Aadhaar. The government has already called for linking bank accounts, PAN cards and mobile connection with Aadhaar.

While there may be some short term challenges to overcome, we see significant long term benefit in terms of preventing frauds and streamlining the KYC process. There are 24 life insurance companies and 33 general insurers including standalone health insurers operating in the country.  

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