text: The Insurance Regulatory and Development Authority of India (IRDAI) has made an announcement that it is now mandatory to link all insurance policies to Aadhaar and PAN/Form 60.The mandate states that no new policies will be issued without the customer submitting these documents and existing customers will also have to link their Aadhaar and PAN to their policies.
  Below are answers to some of the most common questions you may have regarding this new regulation:
  - Q. Is there any specific date from when this is applicable or is it with immediate effect?A. The IRDAI circular is applicable with immediate effect.
  - Q. As understood, as per the IRDAI notification, no new policies can be issued without an Aadhaar card. What if I do not have an Aadhar card at the time of issuance?A. New policies can be issued in case the client does not submit the Aadhaar number and the Permanent Account Number at the time of issuance of the policy. However, the customer will have to submit the same within a period of six months from the date of the issuance of policy.
  - Q. For existing policies, if Aadhaar number was not given at time of issuing policy (for example if another form of ID, address proof was used), is there any deadline by when these policies have to be linked to Aadhaar? If the deadline is not met, what is the consequence for policyholders?A. For existing policies, the customer has to submit their Aadhaar and PAN number/Form 60 by 31st March 2018. In case the customer does not submit the same by the time period, the said account shall cease to be operational till the time the same is submitted.
  - Q. In case certain policyholders have not linked their Aadhaar yet, and make a claim, will their claim be rejected?A. In case a policyholder has not linked their Aadhaar and PAN details, their claims will be kept in abeyance till they submit the same.
  - Q. In case a policyholder does not have an Aadhaar will his/her policy become void or claims get rejected?A. No, neither will the polices become void, nor will the claims be rejected. However, the claims will be kept in abeyance till Aadhaar and PAN/Form 60 are submitted by the policyholder.
  - Q. For existing policyholders, doesn't the insurance contract itself come into effect in case of claims or ceasing the policy to be operational? Because at time of issuing the policy, there was no mention of Aadhaar as such.A. Insurance contracts are governed by Indian Contract Act. However, the requirement of submission of AaAadhaar and PAN/Form 60 are as per PML Rules framed under Prevention of Money Laundering Act, 2002. The PML Rules have statutory force and the same has to be complied with.
  We hope this answers any queries you may have!
  If you have a policy with us, and wish to update your Aadhaar and PAN/Form 60 details, click here.