As per the IRDAI directive, life insurance companies in India are mandatorily required to get the Aadhar numbers of all their customers and should link these numbers to their policies. Linking Aadhar numbers and PAN/Form 60 is compulsory for getting any financial services in the country as mandated by the Prevention of Money Laundering Second Amendment Rules, 2017. Aadhar linking is available for all the life insurance and general insurance companies in the country. The latter category has 33 companies while the former segment has 24 organizations. These include the likes of SBI General Insurance, Star Health Insurance, Bajaj Allianz, Max Life and many other industryplayers.
Linking Aadhar numbers to insurance policies can be done via the offline/online mode or even through text messages.
Online Linking for Registered Users-
- Go to customer service portal of life insurance company
- Add Aadhar details in the boxes provided
- Submit this form and receive OTP on registered mobile number
- Enter this OTP and Aadhar number to finish the process
Online Linking for Non-Registered Users-
- Visit the website of your insurance company
- Register with details like mobile number, date of birth, PAN, policy number, email address and also the Aadhar number
- Get the OTP to your registered mobile number once the Aadhar number is entered
- Type the OTP in the box given for this purpose
- The Aadhar card and insurance policy will thus be linked
Offline Linking with Insurance Policies
- Visit your insurance company’s nearest branch or contact your agent
- Carry your original Aadhar Card and self-attested copies
- Submit a copy to the officer for getting your insurance policy and Aadhar number linked
There are some documents that you will require for linking your insurance policy with your Aadhar number. These include your Aadhar number (12 digits) and PAN or Form 60/61. Linking your Aadhar number to the insurance policy will help in combating any malpractices or chances of money laundering along with enhancing overall customer experiences. There will be swifter settlement of claims and the amounts will be credited directly to one’s bank account. The entire process will be simplified and customers can get access to all necessary financial services through one platform.
Your mobile phone number should be linked to the insurance policy in order to complete this process successfully. Aadhar card details should also be furnished whenever you apply for a new insurance policy. Form 60 is only required for customers who do not have PAN cards.