The Government of India along with IRDA made an announcement that everyone must link their Aadhaar card with insurance policies.
Linkage of Aadhaar card with insurance policies is mandatory and everyone should start linking their numbers. This comes under the mandatory Prevention of laundering. (Amendment Rules 2017)
The unique 12 digit aadhaar number must be linked to every policy whether it may be new or old. The employees’ data must also be kept safely for any future reference.
Many frauds and illegal settlements are going on throughout the country. Piles of complaints have been registered daily. To stop such scandals and corruption, the linkage has come into the picture to reduce such cases.
All Policies Must Be Linked With Aadhaar
All policyholders in various departments such as Medical, Travel, Transport etc. should ask their customers to link their aadhaar cards or else the policies will be upheld.
The Aadhaar link will help the customers during the settlement time without any chaos or confusion in the agreement. Fraud claims and settlements will decrease automatically.
We haven’t got any information about the figure to invest in insurance policies. I am sure everyone knows that the government made mandatory for the people to link their aadhaar cards with bank accounts.
Any transaction above Rs 50,000 must have aadhaar link which will be saved and use the information for future purposes. One should note that the government has made the links to be mandatory.
Any transaction linked to money will be noted down and have a detailed view of the money transferring from one account to another account.
The Government of India has ordered the officials to make a note of every transaction to take down the illegal money transferred from one account to another.