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LIFE INSURANCE

Link Aadhaar With Your Life Insurance with this simple 4 Step Guide

Rohit Sapra Rohit Sapra 18 December 2017
4.0 (4 votes)

Go through this easy and simple 4 step guide to link your Aadhaar card with your life insurance from the comfort of your home.

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The Insurance Regulatory and Development Authority of India (IRDAI) in a recent circular to all the life insurance companies said as per the Prevention of Money-laundering (Maintenance of Records) Second Amendment Rules, 2017 as notified by Central Government vide gazette notification dated 1st June 2017 that Aadhaar and PAN/Form 60 are mandatory for availing financial services. This includes new insurance policies and also linking of the existing policies with the same. Linking of Aadhaar under this rule is applicable for all life insurance, general insurance and standalone health insurance companies. There are 24 life insurance, 23 non-life insurance and 5 standalone health insurance companies. Thus, this has become a huge and daunting task for the insurers with its wide base of customers. Recently, the government has extended the time required for completing this activity till the 31st of March, 2018. Though the deadline has been extended, the need for linking the Aadhaar still remains. If the same is not done within the given time frame claim settlements might get affected.

The process for linking Aadhaar to your existing policies will be a similar process as the one you would have already followed while linking your bank account i.e. it can be done by visiting the branch office of your life insurance or by visiting the company’s website. If you plan on visiting the branch office you must carry Aadhaar Card, PAN Card and the policy details.

For doing it online there are just a few companies that have started offering online Aadhaar linking facility. You need to visit the company's website. Here you will be asked to provide your policy details and personal details for verification. On successful verification, you will be allowed to enter your Aadhaar number.

So, now that we know that linking of Aadhaar with insurance policies has been made mandatory, the next question is how do we do so.

This 4-step guide will help you in getting the same done at the earliest possible. Let me demonstrate the same for you with regards to LIC.

A 4-step guide For Linking Aadhar to Insurance:

  1. Open LIC’s website, on the home page click on 'link Aadhaar and Pan to policy' or you can also directly type this web address in your browser licindia.in/Home/Link_Aadhaar and_PAN_to_Policy.

  2. A pop-up will open up asking you to provide your Aadhaar and PAN numbers along with your email address and mobile number.

  3. Once you submit the form, an OTP will be sent to your mobile number registered with UIDAI. Enter the OTP and click submit.

  4. A message will be shown informing about the success of the linkage.

After verification with UIDAI, a confirmation in the form of SMS or email will be sent to you. Do note that verification may take a few days.

Some insurers may have this option in ‘My Account’ section as with HDFC Life. You can look for it under the ‘My Policy’ menu and click on the Update Aadhaar. Once you provide the required details you will receive a confirmation on the same.

So, don’t wait until the deadline for linking Aadhaar with your policies. The company needs the required information for providing you with continuous services for renewals, endorsements and during claims registrations. The insurer can also hold the claim payments until the linkage has been completed. Thus, it is advisable for everyone to complete this simple process at the earliest to avoid any hassles.

Recommended Read: Linking of Aadhaar Number with Insurance Policy is Mandatory

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4.0 (4 votes)
Rohit Sapra
Written by Rohit Sapra
Rohit Sapra, a licentiate, and currently an SME, is a seasoned insurance professional with previous work experience from Kotak and Birla Sun Life Insurance.