How to Link My Aadhaar Card with Life Insurance Policy? What Are Its Benefits?

A life insurance policy is one of the best ways to ensure your loved ones' financial security. When the insurance company authorizes a claim, the policy pays death or maturity benefits to your nominees. Aadhar Card is one of the most crucial documents that are necessary for insurance. Moreover, the Insurance Regulatory and Development Authority of India (IRDAI) has advised all insurers to link new and current insurance policies to the Aadhar number. This provision will help the government's digitization strategy by creating a common platform for all financial services. Though the method may be time-consuming at first, it will deliver unrivalled benefits in the long term by reducing fraud and expediting the entire KYC process. So, let us learn about the process of linking your Aadhaar card to your life insurance policy.

How to Link My Aadhaar Card with Life Insurance Policy?

A policyholder can link their Aadhaar card with the life insurance policy in two ways - online mode or offline mode. Let us take a look into both of the methods, one by one. 

1. Offline Mode

Offline submission of documentation for life insurance or any other type of insurance coverage is possible through a visit to the nearest branch or by contacting your insurance agent. Moreover, submit both the original and self-attested copy of your Aadhar card along with necessary documents to the insurance officer. Once the documents are verified, your Aadhaar number will be linked to your insurance policy. 

2. Online Mode

It is simple and time-saving to link an insurance policy to an Aadhaar number online. However, before attempting to link your life insurance policy with Aadhaar, make sure your mobile number and Aadhaar are linked. It is important to note that the technique for linking the Aadhaar number to the policy is different for registered and non-registered users. 

• Registered Users - The registered user can visit the insurance company’s online customer care website to log in and fill in all of the Aadhaar information. After this, the policyholder will receive a one-time password (OTP) on the Aadhaar-registered cell phone number for verification. The Aadhaar number will be linked to the life insurance policy after submitting the OTP.
• Non-Registered Users - All non-registered users can visit the insurance company's website to submit their details about PAN card, mobile number, email ID, date of birth, policy number, and Aadhaar number. The OTP sent to the registered number can be entered in the last step of the verification process, successfully linking the life insurance policy with the Aadhaar number.

What Are the Benefits of Linking My Aadhaar Card with Life Insurance Policy?

The linkage ensures that money is not laundered and that malpractices are avoided. Moreover, the seeding guarantees that customers have a better experience by allowing policyholders to access all financial services through a single site since the bank account, PAN number, and mutual fund are already linked. It ensures a quicker resolution of claims. In practice, the claimed money is directly credited to the policyholder's bank account, and the policyholder does not have to keep track of it. In short, it simplifies and streamlines the insurance administration procedure. 

Endnotes

In order to link insurance to Aadhar and gain profit from insurance-related services, the steps mentioned above must be accomplished correctly. Moreover, it is recommended that you complete the process as soon as possible to enjoy the above-mentioned benefits. 

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Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.