IRDAI mandates linking of policies to Aadhaar

IRDAI recently made it mandatory for all individuals to link the existing as well as new policies to Aadhaar As notified by the Central Government, the Prevention of Money-laundering (Maintenance of Records) Second Amendment Rules, 2017 makes Aadhar and PAN/Form 60 mandatory for availing financial services. “These rules have statutory force and, as such, life and general insurers (including standalone health insurers) have to implement them without awaiting further instructions,” said IRDAI in a circular.