According to sources as per a government directive, you are meant to link Aadhaar and PAN to your LIC (Life Insurance Corporation) policies by December 31, says India's biggest life insurer on its website. LIC has come up with a facility which enables policyholders to link Aadhaar with their policies online.
Meanwhile the Insurance regulator IRDAI (Insurance Regulatory and Development Authority of India) had earlier said linkage of Aadhaar number with insurance policies is mandatory and asked insurers to comply with the statutory norms.
Further IRDAI said "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”. The insurer added that after verification with
UIDAI or Unique Identification Authority of India, which issues Aadhaar card, a
SMS/mail confirmation will be sent to you, says LIC and the verification may take
few days.
