How to Link Insurance Policies with Aadhaar Card

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How to Link Insurance Policies with Aadhaar Card

Linking insurance policy with the 12-digit unique identification number, developed by UIDAI, is compulsory now. This has been made mandatory under the prevention of money laundering Second Amendment Rules, 2017 act, which involves statuary force. The insurance regulatory and development authority (IRDAI) has made Aadhaar and PAN/Form 60 linking mandatory for availing any financial service.

IRDAI has instructed all the insurers to link the new and existing insurance policies to the Aadhar number, without any further delay. Failing to complete the procedure may impel insures to hold the claim until the linking is complete.

The Aadhaar linking is applicable for all the 33 general insurance companies and 24 life insurance companies, across the country. This move will create a unified platform for all the financial services and also bolster government’s digitization initiative. Though, the procedure may be tedious initially, but in the long run will provide unprecedented benefits by preventing fraudulent acts and streamlining all the KYC process.

To help the policyholders, the insurance companies like general insurer, health insurer, motor insurer and life insurer are constantly sending notifications. There are three ways to link Aadhar with an insurance including online, offline and text messaging.

How to Link Aadhar number with Insurance Policy via Online Mode

Linking insurance policy with Aadhaar number online is convenient and saves a lot of time. You should ensure to link your mobile number and Aadhaar before trying to link insurance policy with Aadhaar. However, for a registered and non-registered users, the process to link is different.

  1. Registered User: A registered user should follow the simple steps to complete the linking process:
  • Visit the customer service portal of the following insurance company
  • Add all the Aadhaar details in the respective boxes
  • Double check and submit
  • An one-time password (OTP) gets generated on the Aadhaar registered mobile number
  • Enter the Aadhar number to get the Aadhaar linked to the insurance policy
  1. Non-Registered User: The non-registered policy holders should abide by the following steps to map Aadhar and insurance policy:
  • Visit the insurance company’s website
  • Enter the details like PAN, date of birth, mobile number, e-mail ID, policy number, and finally Aadhaar number
  • Upon entering the Aadhar number, an OTP is sent to the registered phone number
  • Type the OTP, in the given box
  • On entering the OTP, the Aadhar card and insurance policy is linked

Linking Aadhaar with Insurance Policy via Offline Mode

Seeding Aadhaar and insurance policy is easy and a policyholder can easily accomplish the task by following few simple steps:

  • Visit the nearest branch office of the insurance company or contact the insurance agent
  • Don’t forget to carry the Aadhar card and a self-attested copy of 12-digit unique identification card
  • Submit it to the officer to get the Aadhar and insurance policy linked

Documents Required For Insurance Policies and Aadhar Linking

The number of documents needed to link Aadhaar with insurance policy are minimal. Below mentioned are the list of documents:

  • The 12-digit Aadhaar number
  • Permanent account number (PAN)/Form 60 or 61

The PAN card or Form 60/61 should be submitted every time an account holder wishes to make a payment of more than Rs.50,000.

Benefits of Linking Aadhaar number with Insurance policy

  • First and foremost, the linking ensures money laundering, and prevent malpractices
  • The seeding ensures enhanced customer experience
  • It ensures faster claim settlement. In fact, the claim amount gets directly credited to the bank account and the policyholder should not track it from-time-to-time
  • It makes the insurance administration process simple and hassle-free
  • The seeding helps customers to access all the financial services in one single platform, as the bank account, PAN number and mutual fund is already linked

Important Tips

  • Mobile number should be linked to the insurance policy to complete the seeding online
  • All the new policy holders should submit their Aadhaar card details while enrolling for a new policy

FAQs on linking insurance policy and Aadhaar Number

    1. Is Form 60 mandatory for linking Aadhar and insurance policy?

No, it is required for those policy holders, who don’t have the PAN( Permanent account number) card.

    1. What is the total number of policyholders in LIC?

Life insurance corporation has a record of nearly 29 crore policies.

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