Life Insurance Corporation (LIC) of India is the biggest insurer in India providing services in every nook and corner of the country. The organisation provides various insurance facilities under various schemes such as term insurance plans, pension plans, money back plans, endowment plans, whole life plans, rider plans and term assurance plans. The government has made it mandatory to link Aadhaar card with all LIC policies.
The last date set for linking such schemes with Aadhaar is 31st July 2018. In case a policy holder fails to do so during this period, he will not receive the policy benefits until and unless he links the service with Aadhaar. As per the latest ruling by the 5 judge bench of the Supreme Court led by the Chief Justice of India, the court has denied to extend the Aadhaar linking deadline and all policy holders will have to get their policies linked with Aadhaar within the stipulated timeframe.