Following SC ruling, Irdai extends Aadhaar deadline for insurance customers

Given the ongoing hearings at the Supreme Court, the Insurance Regulatory and Development Authority of India (Irdai), in a circular dated 20 March 2018, has sent an advisory to all insurance players stating that the date for linking customers’ Aadhaar to their policies is extended, until the matter is finally heard and a judgment pronounced by the apex court. 

Irdai has also said that customers are to be given six months' time from the date of commencement of their ‘opening’ an account, to submit their Aadhaar and Permanent Account Number (PAN)/Form 60 details with an insurer, in lieu of Know-Your-Customer norms. 

Further, customers can submit any of the "Officially Valid Documents” as mentioned in the Prevention of Money Laundering (Maintanence of Records) Rules, 2005. 

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