Buying High Value Insurance, PAN a Must

Posted In India - By NitiN Kumar Jain On Saturday, July 25th, 2009 With 0 Comments

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Insurance Regulatory and Development Authority (IRDA) in its recent circular has made PAN mandatory on all high value insurance products.

From 24th July 2009 onwards, buyers of Insurance policies whose annual premium is more than Rs. 1 lakh per policy, will have to provide their PAN card details to insurance companies.