How to Link Aadhaar to LIC Policies

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How to Link Aadhaar to LIC Policies 

Link Aadhaar to LIC Policies

The Irdai has issued a circular making it mandatory for all policyholders to link their Aadhaar and PAN details to their insurance policies. If one does not have a PAN card, Form 60 must be furnished to comply with this requirement.
Insurance companies are sending intimations to policyholders to link their Aadhaar numbers to their insurance policies by spelling out how one can go about doing this.

 

# Link Aadhaar to LIC Policies while buying newly

If you are buying any of the LIC policies newly, then the authority will now make it mandatory to link Aadhaar to LIC policies at the stage of the proposal itself. Along with this, you must also submit your PAN details as well.
Therefore whoever buying new products from LIC will no need to bother now. The process is completed by LIC itself before issuing the new policy to you.

# Link Aadhaar to LIC Policies for existing customers

Link Aadhaar to LIC Policies Online

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 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.

How to link Aadhaar to LIC Policies offline?

The policyholders can approach their respective insurance agents or visit the nearest branch office of the insurance company with their Aadhaar card to carry out the linking. A self-attested copy of Aadhaar needs to be furnished to complete the process.

Points to note
1. Aadhaar is required to be captured at the proposal stage itself for all new policies.
2. In order to avail online linking facility, the mobile number of the policyholder must be registered with the Aadhaar database.
3. As of now IRDA not set any deadline. Hence, you can link Aadhaar to LIC policies as per your comfort.

 

What is 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.



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