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Life Insurance Corporation (LIC) of India is the largest and the oldest insurance company in India, emphasizing its status of being the pioneer of insurance products in the country. It is renowned for its wide range of insurance plans under different schemes like money back plans, term insurance plans, endowment plans, whole life plans, pension plans, rider plans and term assurance plans. Each scheme under these plans is designed to fulfil unique financial needs.
The Government of India had been debating whether linking LIC policy with Aadhaar card should be made compulsory for policyholders or not. This initiative would help them to continue to reap the benefits of the life insurance plan, as and when the need arises. If this provision is implemented and made compulsory by the government, all insurance policies that have not been linked to Aadhaar will cease to exist. However, the last date set for linking LIC policy with Aadhaar card has been postponed till further notice. This announcement was made by the 5-judge bench of the Supreme Court of India in its ruling in March 2018, led by the Chief Justice of India. Therefore, as per December 2018, it is not mandatory for insurance policies to link LIC policy with Aadhaar number, though they can exercise the facility as per their discretion.
Technology has improved connectivity, making the world smaller and more accessible. Hence, companies have realized the potential of reaching out to their customers through the digital medium, making their products and services more accessible. LIC too offers the convenience of offering their products and services through the online as well as the offline medium. All that a LIC policyholder has to do to avail the online benefits is to enter the PAN number and register with the insurance company through its official website.
You can link LIC policy with Aadhar number through these steps:
For LIC policyholders who prefer the offline method for linking their LIC policy with Aadhaar number can do so by visiting any branch of LIC. Besides, this method is useful for those who have registered themselves through the official website of LIC can also opt for the offline linking process. Also, the offline method is preferable for LIC policyholders who do have a PAN card. Such policyholders can link LIC policy with Aadhaar number by submitting Form – 60.
Below are the steps for linking LIC policy with Aadhaar number through the offline method:
Is Aadhaar card mandatory for LIC?
Currently, linking LIC policy with Aadhaar number is not compulsory. The deadline for this service has been postponed till further notice. This is as per the directive issued in March 2018 by the 5-judge bench of the Supreme Court of India, led by the Chief Justice of India. Though this facility is not compulsory for LIC policyholders, you can opt for this service as per your discretion.
Is Aadhaar or PAN compulsory for new registration on LIC website?
The offline method is the preferred option for LIC policyholders who do have a PAN card. In such cases, linking LIC policy with Aadhaar number can be done by submitting Form – 60. However, for linking LIC policy with Aadhaar number online, it is compulsory for policyholders to enter either their Aadhaar or PAN number, along with other required information, to complete the linking process successfully.
How can I check if my Aadhaar card has been successfully linked to my LIC account?
After successful verification of your personal details by UIDAI, you will receive a confirmation message on your registered contact number and/or email ID notifying you about the same. Otherwise, you can check whether your LIC policy has been linked to Aadhar through LIC’s official website or by visiting any of its branches.