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Life and General Insurers must implement the Prevention of Money-laundering Rules. These rules make Aadhaar and PAN or Form 60 mandatory for insurance services and for linking existing policies. Insurers execute this requirement without further instructions.
What you must do
Key dates
Who is affected
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[Image omitted. See the official document.]
Ref: IRDAI/SDD/MISC/CIR/ 248 /11/2017
8th November, 2017
CIRCULAR
To Life and General Insurers (Including Standalone Health Insurers)
Sub: The Prevention of Money-laundering (Maintenance of Records) Second Amendment Rules, 2017
Central Government vide gazette notification dated 1st June 2017 notified the Prevention of Money-laundering (Maintenance of Records) Second Amendment Rules, 2017 making Aaadhar and PAN/Form 60 mandatory for availing financial services including Insurance and also for linking the existing policies with the same.
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.
These Rules have statutory force and, as such, Life and General Insurers (Including Standalone Health Insurers) have to implement them without awaiting further instructions.
[Image omitted. See the official document.]
Member (Life)
परिष्र्म भवन, तीसरा तल, बशीरबाग, हैदराबाद-500 004. भारत () : 91-040-2338 1100, फैक्स: 91-040-6682 3334 ई-मेल: irda@irda.gov.in वेब: www.irda.gov.in
Parisharam Bhavan, 3rd Floor, Basheer Bagh, Hyderabad-500 004. India. Ph.: 91-040-2338 1100, Fax: 91-040-6682 3334 E-mail: irda@irda.gov.in Web.: www.irda.gov.in
