Irdai makes it mandatory to link Aadhaar with insurance policies

While the deadline hasn't been given, insurers say that it is most likely to be December 31

The Insurance Regulatory and Development Authority of India (Irdai) has asked all the insurance companies to mandatory link Aadhaar with every individual policy. This move might have some short-term logistical challenge but there would be long-term benefits for the insurance industry.

Irdai, in its circular on Wednesday 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.” This moves comes after Central Government vide gazette notification dated 1st  June 2017 notified the Prevention of Money-laundering (Maintenance of Records) Second Amendment Rules, 2017 making Aadhaar