How to Link Insurance Policy with Aadhaar card
- The government has made regulation for linking insurance policy with the 12-digit unique identification number, which is developed by UIDAI (unique identification authority of India), is compulsory now.
- This has been made mandatory by the government under the prevention of money laundering Second Amendment Rules, 2017 act. The IRDAI (insurance regulatory and development authority) has made Aadhaar and PAN/Form 60 linking mandatory for availing any financial service.
- UIDAI has made a clear instruction to all the insurers to link the new and existing insurance policies to the Aadhaar number, without any delay. If an insurer will fail to complete the procedure which may hold the claim of insurer until the linking is complete.
- The Aadhaar linking is applicable to only 33 general insurance companies and 24 life insurance companies, across the country. Though the process may be complicated initially, in the long run, it will provide you so many benefits by preventing fraudulent acts and all the Aadhaar KYC process.
- To help the policyholders, the insurance companies like a general insurer, health insurer, motor insurer and life insurer are constantly sending notifications to all their customers. There are three ways to link Aadhar with an insurance i.e. online, offline and text messaging.
Online Linkage of Aadhaar number with Insurance Policy
Linking insurance policy with Aadhaar number online is convenient and saves a lot of time. So, Make sure that you link mobile number and Aadhaar prior to linking insurance policy with Aadhaar number. However, the process to link Aadhaar card with insurance policy is different for registered and non-registered users.
A registered user just has to follow the simple steps to complete the linking process:
- Firstly, Visit the customer service portal of the following insurance company
- all the Aadhaar card details in the respective boxes
- Double check and submit it
- A one-time password (OTP) will be generated on your Aadhaar registered mobile number
- Enter your Aadhaar number to link your Aadhaar to the insurance policy
The non-registered policyholders must follow the following steps to link their Aadhaar and insurance policy:
- Visit the insurance company’s website
- Fill your details like PAN link with Aadhaar, date of birth, mobile number, e-mail ID, policy number, and finally Aadhaar number
- After entering the Aadhaar number, an OTP will be generated and sent to your registered mobile number
- Type the OTP, in the given box
- On entering the OTP, the Aadhaar card and insurance policy is linked
Offline Mode to Link Aadhaar with Insurance Policy
Linking your Aadhaar number and insurance policy is a simple and easy process and a policyholder can easily complete this by following few simple steps:
- Visit the nearest branch office of the registered insurance company or contact the insurance agent of the company
- Don’t forget to take your Aadhaar card and a self-attested copy of 12-digit unique identification card along with you.
- Submit your Aadhar card self-attested copy to the officer to get the Aadhaar and insurance policy linked
The necessary documents which are needed to link Aadhaar number with insurance policy are minimum.
Below mentioned is the list of documents required:
- The 12-digit Aadhaar number
- Permanent account number (PAN)/Form 60 or 61
The PAN card or Form 60/61 have to be submitted every time an account holder wants to make a payment of more than Rs.50, 000.
Benefits to Link Aadhaar number with Insurance policy
- It will make the insurance administration process simple and hassle-free.
- The linking process ensures money laundering and will prevent the malpractices.
- It ensures enhanced customer service experience
- It will make sure faster claim settlement. In fact, the claim amount will directly be credited to the bank account and there is no need of policyholder to track it from-time-to-time
- The linkage will help customers to access all the financial services in one single platform, as the bank account, PAN number and mutual fund is already linked