PAN requirement for insurance products: insurers must collect PAN for high-premium policies and confirm compliance. Mandates collection of PAN from purchasers of life insurance products where the contracted annual premium per policy exceeds the high-premium threshold, requiring insurers to obtain and record PAN for such policies with immediate effect and to confirm compliance to the Authority by the prescribed deadline.
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Provisions expressly mentioned in the judgment/order text.
PAN requirement for insurance products: insurers must collect PAN for high-premium policies and confirm compliance.
Mandates collection of PAN from purchasers of life insurance products where the contracted annual premium per policy exceeds the high-premium threshold, requiring insurers to obtain and record PAN for such policies with immediate effect and to confirm compliance to the Authority by the prescribed deadline.
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