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Now, linking Aadhaar with insurance policy is mandatory too

Insurance Regulatory and Development Authority says Aadhaar linking with existing policies, quoting unique identification number for buying new policy a must

Even with the Supreme Court still hearing arguments challenging the central government’s decision of making linking of Aadhaar Number mandatory with a host of other identification documents and mobile numbers, a new order makes it compulsory for citizens to link their unique identification numbers with their Insurance policy too.

The Insurance Regulatory and Development Authority of India (IRDAI) has, in a communiqué released on Wednesday, said that it is now mandatory for citizens to link their Aadhaar number with their existing insurance policies while people who plan to buy a new policy will also have to compulsorily quote their unique identification number for doing so.

The IRDAI said that the directive was being issued under provisions of the Prevention of Money Laundering Second Amendment Rules, 2017.

The rules had been amended by the Prime Minister Narendra Modi-led central government earlier this year to make it mandatory for people to link their Aadhaar number with their respective mobile phone numbers, bank accounts, ration cards and a host of other identity documents. The Centre’s decision had forced several concerned citizens, NGOs and leaders of the principal opposition party, the Congress to petition the Supreme Court seeking quashing of the directive.

The IRDAI has said that the Aadhaar-linking order stands applicable for both life and general insurance policies (including insurance policies like health, motor, travel and home).

The insurance regulatory body of the government said that the central government’s gazette notification dated 1st June, 2017 had notified the Prevention of Money-laundering (Maintenance of Records) Second Amendment Rules, 2017 and made Aadhaar and PAN/Form 60 mandatory for availing financial services including insurance and also for linking the existing policies with the same.

Though the Supreme Court is yet to pass its verdict on the various petitions placed before it challenging Aadhaar-linking, the IRDAI said that insurers have to implement its orders “without awaiting further instructions.”

The post Now, linking Aadhaar with insurance policy is mandatory too appeared first on APN Live.



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