However, it may be accepted as one of the proof documents if the customer volunteers
Hyderabad: The Insurance Regulatory and Development Authority of India (IRDAI) has asked insurers to refrain from seeking Aadhaar from the proposer or policy holders. In a circular, the insurance regulator said along with Aadhaar, insurers should not mandatorily seek PAN/Form 60 as part of Know Your Customer (KYC) norms.
However, the insurers may accept Aadhaar card as one of the identity or address proof documents for KYC purpose subjected to certain conditions. They include voluntary offer of Aadhaar card, including physical copy of e-Aadhaar, masked Aadhar and offline Aadhaar, by customer as one of the documents for KYC purpose.
Please click here to read more.