It is now mandatory to link Aadhaar and PAN to all your Insurance Products like Life Insurance, Health Insurance or any other types of insurance you are owning. How to link Aadhaar to LIC Policies online within few minutes?
IRDA yesterday (8th November 2017) came up with a circular that linking your Aadhaar and PAN number is mandatory for all your insurance products. The notification is as below.
“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 for 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.”
It is clear from above notification that you have to link your Aadhaar and PAN also to all your insurance products. If you don’t have PAN card, then you have to declare the same in Form 60.
Form 60 is to be filled by those individuals or a person (not being a company or firm) who does not have a permanent account number and who enters into any
transaction specified in rule 114B.
Note these below points before submitting Form 60.
1) Before signing the declaration, the declarant should satisfy himself that the information furnished in this form is true, correct and complete in all respects. Any person making a false statement in the declaration shall be liable to prosecution under section 277 of the Income-tax Act, 1961 and on conviction be punishable,
# in a case where tax sought to be evaded exceeds twenty-five lakh rupees, with rigorous imprisonment which shall not be less than six months but which may extend to seven years and with fine;
# in any other case, with rigorous imprisonment which shall not be less than three months but which may extend to two years and with fine.
2. The person accepting the declaration shall not accept the declaration where the amount of income of the nature referred to in item 22b exceeds the maximum amount which is not chargeable to tax, unless PAN is applied for and column 21 is duly filled.
LIC started the dedicated link for the purpose of link Aadhaar to LIC policies online. The steps are explained here. But before that, keep in mind few points.
# Keep your Aadhaar Card and PAN card handy along with the list of policies.
# Mobile Number as registered with UIDAI is to be entered. OTP will be sent to the number provided. (In case your mobile number is not updated in Aadhaar, kindly contact nearby LIC Branch Office for Aadhaar Linking.)
# After submitting the form, a message will be shown on the success of the registration for linkage.
# After verification with UIDAI, SMS / mail confirmation will be sent to you. The verification may take few days.
Step 1-Visit the LIC Homepage. Here you will find the new link “Link Aadhaar and PAN to LIC Policies”. Just click on that.
Step 1-Then you will find the below page where you have to fill the details.
Step 2-Provide details like name (as per Aadhaar), date of birth, Aadhaar number, gender, Email ID, mobile number (which is registered with Aadhaar), PAN number, and policy number.
Step 3-Then click on the tab “Get OTP”. You will receive the OTP to your mobile number. Enter the same and click on Submit. After submitting the form, a message will be shown on the success of the registration for linkage.
Step 4-After verification with UIDAI, SMS / mail confirmation will be sent to you. The verification may take few days.
If you are unable to link Aadhaar to LIC policies online, then the next step is to use the offline process. For this, LIC came up with the standard form. You have to fill the form along with Aadhaar and PAN card self-attested copies to the nearest LIC Branch.
Notice one thing that, now if you are unable to link Aadhaar to LIC policies online, then you can visit any nearest LIC branch and submit the form for link Aadhaar to LIC policies offline.
Also, you can use the same single form to link Aadhaar with your multiple policies.
Download form for link Aadhaar to LIC Policies offline
Note:-The deadline to link Aadhaar to LIC policies is set as 31st December 2017. Hence, complete the process at the earliest.
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View Comments
Hi Basavaraj,
I am a female, age 26years, I fall under the LIG. I bought an apartment 6 months back, I want to apply for PMAY. My loan period is for 30 years. And the total area of my flat is 1124 square feet. I am not sure what will be my carpet area. My parents own a house, but I don't stay with them so will I be eligible for PMAY?
Kindly reply
Dear Rini,
Are you asking this question after going through the related post?
One of my relatives got US citizenship a few years ago. He had taken two LIC policies 20 years ago. He doesn't have PAN and Aadhaar. Will form 60 along with his US passport copy submission suffice in his case?.
Dear Shr,
Yes.
Sir
I’m OCI card holder (overseas citizen of India)and I have my pan card but don’t have the aadhar card. I have enrolled 2twice for my aadhar still it is under process. Enrolment date was 20/02/2018 and 02/03/2018
How do I link my policy without my Aadhar card.Pls help me and reply me by mail.tks
Dear Prakash,
You have to link once you receive Aadhaar. Be in touch with UIDAI for your Aadhaar issue.
i have to link my moms's aadhar she dosent have an email Id so wat should i do
Jomin-Why can't you create the same if necessary? Also, you can try to link the same by visiting to home branch (where email id not required).
It is heard that in case of LIC of India, many big shots take LIC policies for short period & pay the premium in cash, they dont clain deductions u/s. 80C & also dont reflect this huge premium in their books of accounts, meanwhile at the time of maturity of LIC policy, they get maturity amt. by cheque, thus their un accounted & un taxed money is being converted in to white money through LIC (May be through other insurence companies also) obviously, LIC of India has no convern with this issue, but by linking of Aadhar Cards with LIC policies, Govt. has PRESUMED that they will be able to drag out black money !!! In major cases, the LIC policy holders are not from black money team, they are doing jobs, or small businesmen, saving their money through LIC policies & securing future of their family, these all are now suffering forced to link their policies with Aadhar cards under a fake belief that all are black money holders !!!
It is difficult to understand that how linking of LIC policies with Aadhar Cards will trace out black money ? If Aadhar card could not be linked with LIC policies due to technical problems of UIDAI websites why the LIC policies holders should suffer by refusing payment by LIC of India ??
Just think many time .... this will be serious issue
Yogendra-Who said you that maturity amount will be payable by cheque? Also, if the cheque is in terms of account payee then how can one encash it other than account holder? Regarding Aadhaar, it helps to track the individual's KYC.
Thanks for your response,
LIC make payment of maturity amount by online directly in the bank of policy holders.
The matter is how Govt. will be able to drag black money paid towards LIC premium, it is understood that Aadhar link is helpful for persons claiming subsidies from Govt... how Aadhar linking will helpful to the other persons who have no concern with subsidies from Govt. ?
In 1 of the LIC branch it was told to me that they have got 5 lakh policies, & most of the policy holders have filed hard copy of Aadhar linking appl. with LIC policies, they have no staff to cover all the linking... before introducing any scheme , it is mandatory for the Govt. to provide sufficient staff & proper updated automation so people need not have to suffer for co-operating Govt.
Yogenra
Yogendra-Gone are the days where nothing is tracked. There is something called High Value Transactions Reporting system (Refer my post "High Value Non-PAN Transaction – How to own or response online?". Now, nothing can be hidden. Because transactions are linked to Aadhaar and PAN.
Regarding staff and Government, I usually not indulge in such political issues. Hence, I do not comment anything on this.
Why my comment is not getting updated?
Raveendran-Which comment? Now you can reply to this of whatever doubt you have.
Dear Sir, I received an email from LIC, asking to link Aadhar before 31st March 2018. It mentioned "You can also update the details by visiting our website http://www.licindia.in OR logging on to the Customer Portal or by visiting our Branch Office".
I logged on to the customer portal, I have updated my Aadhar and PAN numbers in the Profile section.
Pl. confirm is this enough and considered as Aadhar and PAN Linking.
Or I still need to link by OTP SMS.
Regards
When 1st I linked my LIC policies with Aaadhar & PAN, I didnt get any reply , then when I loged in to my account through LIC portal of customers, I found that my Aadhar Card & PAN are there in my profile, it is due to reason that those r linked through link provided by LIC Of India.
However, I have not received any confirmation from LIC that my LIC policies & PAN r linked, but my profile show that those r linked.
I just enquired with LIC of India branch office, one of the officer verified through LIC computer & informed me that my PAN & Aadhar Cards linking cant be viewed !!!! (in fact I can view through my login on LIC customer portal after login)
So I have been informed to file hard copies with LIC branch.
Once again I tried to link my LIC policies & PAN with Aadhar through online link, but I get message logo "Error" - request already submitted for policies nos. ..... ...
I cant understand, I have sent email to UIDAI & LIC with screen shot of message... & waiting for their reply
Yogendra-If online status showing as LINKED, then take the photo of the same with you and retain as proof.
Thanks for your prompt reply
The message is "request already submitted for policies nos........ "
Yogendra-Retain this as proof through taking an image.
Raveendran-That much is enough.
Thank you, Regards.
I am able to see PAN and AADHAR number when I login to LIC portal and go to Personal Information ---> Digital KYC.
Does this mean that my AADHAR and PAN is already linked with all policies I have on my name?
Note :- I am able to see all of my policies under My Policy section in the same portal
Pritam-YES.
Thanks
my child have a policy New children money back policy,he have aadhaar card but no pan card. can I use my Pan No.
Mrinmay-Being a proposer, you can use your PAN.
Hi
Trying to update AADHAR in digital kyc on your portal, I'm continually getting "please enter a valid PAN" error. Kindly suggest
Krishma-I am not sure of the error. But if online process not happened, then try to submit the documents to the nearest LIC Branch.
I have policy in my child name(14 yes old).he is minor..and has no pan card
While updating system is asking pan card number so can't able to link
Ajay-In my view, you have to link your PAN (proposer). If that not happens, then do the offline process.