Insurance regulator IRDAI (Insurance Regulatory and Development Authority of India) has made it compulsory to associate Aadhaar with insurance policies. General and life insurance companies will need to apply this directive immediately and begin linking Aadhaar of policyholders using their insurance coverages. In a statement provided on November 8, 2017, from the ruler, Aadhaar-insurance coverage (aeps registration) linkage was made compulsory under preventing Money-laundering (Care of Records) Second Amendment Rules, 2017.

IRDAI stated, "These principles have statutory force and, as such, general and life insurers (like standalone health insurance ) must execute them without even awaiting further instructions".

All policyholders might need to discuss their Aadhaar number together with PAN/Form 60 for availing services." Central Government vide gazette notification dated June 1 2017 advised the Prevention of Money-laundering (Care of Records) Second Amendment Rules, 2017 manufacturing Aadhaar and PAN/Form 60 compulsory for availing financial services such as Insurance and for linking the present policies with exactly the same," IRDAI explained.

The principle will be applicable both in life, overall in addition to standalone medical insurance firms. These days, there are 33 general insurance companies and 24 life insurance companies carrying out operations in the nation.