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Trichy, Tamil Nadu, India
Working as an Assistant in LIC of India, Rockfort BO, Trichy, TN. Having a strong belief that LIC's welfare is our welfare and always trying to work towards that. Also functioning as an office bearer of AIIEA Thanjavur Division.

Friday, July 31, 2009

IRDA made PAN compulsory for annual premium above 1 lac.

Text of IRDA Circular:

It ha s be e n de cide d to m a nda te the re quire m e nt o f P AN o n a ll high va lue insura nce
pro ducts.
All Insure rs a re the re fo re a dvise d to co lle ct P AN fro m a ll pe rso ns purcha sing
insura nce pro ducts whe re the co ntra cte d a nnua l pre m ium pa ya ble o n the insura nce
po licie s, pe r po licy ba sis, e x ce e ds R s. 1.00 la k h.
T his circula r co m e s into fo rce with im m e dia te e ffe ct. All Insure rs a re a dvise d to
co m ply with the dire ctio ns issue d in this circula r unde r co nfirm a tio n to the Autho rity
no t la te r tha n 01.08.2009.

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