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Old 4th October 2023, 14:45   #1
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Car Insurance for NRI's

A friend of mine, an NRI resident in Singapore, bought a car for her mother to use.

The new KYC regulations mandate PAN (which she has) and an Aadhaar which she does not have. This is leading to difficulties in getting the renewal done.

Apart from visiting the insurance offices and meeting someone of authority - is there anything else that could be done or an exception?
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Old 4th October 2023, 16:14   #2
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Re: Car Insurance for NRI's

Quote:
Originally Posted by ajmat View Post
The new KYC regulations mandate PAN (which she has) and an Aadhaar which she does not have. This is leading to difficulties in getting the renewal done.
As far as I remember, IRDAI has directed insurance companies not to mandatorily ask for the Aadhaar details for KYC. I don’t know if there are some recent changes to this.

But if the requirement is e-KYC, then I guess its required as per the company to company policy. Earlier My daughter didn’t had the Aadhar and it caused lots of hindrances/issues to get the things done while being overseas.
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