Not Doing ‘Kyc’ For Your Insurance Policy?
Are you taking new insurance?, Renewing an old policy?, KYC is now mandatory, have you done it?, How to complete KYC easily? – Hello And Welcome Friends I hope Your Good And enjoying Our Previous Insurance, Personal Finance and Etc.
Insurance: Do You Want To Take Insurance? Or Want To Renew Your Policy? However, You Must Complete Know Your Customer (KYC). Otherwise Insurance Companies May Not Issue You Insurance. Your Policy May Not Be Renewed. If Not Then Complete Your KYC in This Way. There Are Three Ways To Complete Kyc. Now We Know How To Complete It.
Insurance is A Protection That Everyone Should Take. It Protects Against Unexpected Financial Losses In The Future. Insurance Companies Offer Different Types Of Policies. Sometimes There Is A Risk Of Losing The Insurance Money Due To Small Mistakes. In Order To Avoid Any Disputes, The Insurance Regulatory Body IRDA Has Implemented Several Rules For More Clarity. One Of Them Is Know Your Customer (KYC). 2023, From January 1 Has Made It Mandatory For All Types Of Insurance Policies From Vehicles. However, While Life Insurance And Health Insurance Are Voluntary, Third Party Insurance Is Mandatory For Vehicles. In This Order, IRDA Has Ordered That KYC Must Be done to reduce fraud in insurance policies.
From January 1, 2023, IRDA has Ordered Insurance Companies To Take KYC Documents For New Policies Issued By Insurance Companies As Well As For Policies Renewed From Now on. This Applies To All Other Insurances Like Life, Health, Travel, Vehicle Etc. Previously, KYC Was Asked Only For Policies With Claims exceeding rs.1 lakh. Now it Has Become Mandatory For All Types Of Policies.
Complete KYC as
- Those Who Have Not Completed KYC Till Now Can Get KYC Number From Insurance Company By Submitting Passport, Driving License, Aadhaar, PAN for Proof Of Identity And Address. There Are Two Other Options.
- C-KYC (Central KYC) Can Be Completed Easily For Those Who Have Invested In Stock Markets, Funds, De-mat Account, Vehicle Loan holders. if you already have C-KYC Number, It Is Enough To Give It To The Insurance Companies. Otherwise You Can Get C-kyc Number By Giving PAN Number.
- E-KYC is A Topic Known To Many People. E-KYC is Mandatory For Getting Pre-paid And Post-Paid Mobile Number. Aadhaar Based Digital Authentication Process. This Is Done With The OTP Sent To The Mobile Number. It Is Sufficient To Give The e-KYC Number To The Insurance Company At The Time Of Purchasing The Policy.
What Happens If KYC Documents Are Not Given
According to IRDA rules, KYC is Required For New Policies And Renewals. Policy May Not Be Issued Without KYC. Welle Users For Renewal.. It Is Very Important To Complete Within The Deadline. Frauds Can Be Reduced By Completing KYC. The Claim Settlement Process Becomes Easier.