linkage of Aadhaar number to Insurance Policies is mandatory – IRDAI

linkage of Aadhaar number to Insurance Policies is mandatory under the Prevention of Money-laundering (Maintenance of Records) 2nd Amendment Rules 2017-IRDAI

linkage of Aadhaar number to Insurance Policies

INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY OF INDIA

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

Dated: 8th November, 2017

CIRCULAR

To Life and General lnsurers (lncluding Standalone Health lnsurers)

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

Central Government vide gazette notification dated st 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 linking the existing policies with the same.

The Authority clarifies that, linkage of Aadhaar number to Insurance Policies is mandatory under the 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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