Mandatory Documents Required to Buy Health Insurance

Posted on: Feb 28, 2023 | 3 MIN | Written by: HDFC ERGO Team

Mandatory Documents Required to Buy Health Insurance

Q: Is Aadhaar mandatory for health insurance?

No, Aadhaar is not mandatory for health insurance. You can submit other valid identity and address proof documents if you choose not to use Aadhaar.

Q: Is a PAN Card mandatory for health insurance?

Yes, PAN is generally required for purchasing health insurance. If PAN is not available, insurers may accept Form 60 as an alternative.

Q: Who is not eligible to buy a health insurance policy?

Individuals who do not meet the insurer’s age criteria, fail to submit valid documents, or do not disclose required information may not be eligible to purchase a health insurance policy.

Q: Can I apply for health insurance without certain documents?

You can begin the application process without all documents, but the health insurance policy will only be issued after all required documents are submitted and successfully verified.

Mandatory KYC Documents for Health Insurance

You may not always have a smooth experience with your health insurance policy. At times, you and the insurer may not be on the same page, which can lead to confusion. Often, this misunderstanding begins right at the start, when you’re unsure about which documents you need to submit.

To keep things simple and fair, there are certain rules are in place. The Insurance Regulatory and Development Authority of India (IRDAI) requires you to complete KYC (Know Your Customer) formalities when you buy health insurance, including family plans. This helps prevent misuse and keeps the process transparent.

When you know these document requirements in advance, it becomes much easier for you to buy health insurance online without delays or repeated follow-ups.

What is the List of Mandatory Documents Required to buy Health Insurance?

When you decide to buy health insurance, insurers usually ask for a few basic documents to confirm your identity and personal details. These documents required for insurance help ensure that the policy is issued correctly and without unnecessary back-and-forth.

While KYC is mandatory, insurers may also request additional documents, depending on the type of plan you choose and the coverage amount you select. These medical insurance documents help insurers verify your eligibility and process the application smoothly.

Identity proof, address proof, age proof, photographs, and, in some cases, medical reports or income proof are the commonly requested documents.

What are the Accepted Forms of KYC of a Health Insurance Customer?

The insurance provider can conduct the KYC of a health insurance customer in the following ways:

• Aadhaar-based KYC using an online authentication process

• Aadhaar-based KYC using an offline authentication process

• Video-Based Identification Process (VBIP) to conduct a face-to-face verification of the customer

• Using the 14-digit KYC Identification number allotted by the Central KYC Registry

• PAN Card/Form 60

• Officially Valid Documents (OVDs)

These health insurance documents are gathered to meet regulatory requirements and help prevent misuse of insurance policies.

Things to Keep in Mind When Buying Health Insurance

Make sure the details you provide match across all documents, including name, date of birth and address. Any mismatch can delay policy issuance or create problems later.

It is also important to disclose your medical history honestly. This helps avoid claim- related issues in the future.

If you are purchasing health insurance for parents, insurers may ask for additional age- related or medical documents.

How to Buy Health Insurance?

Buying health insurance today is mostly digital and convenient. You can compare plans, submit the documents required for insurance policy issuance online, and complete the payment from home.

Once the documents are verified, the insurer issues the policy electronically and shares it with you through email or an online portal.

Conclusion

Whether you are planning to purchase a health insurance policy or renew it, keep in mind that it is now mandatory to submit KYC documents. The rule is applicable to existing policyholders, too, and they have to submit the required documents to the insurer to complete the process of KYC within the specified timeframe. If existing customers have not submitted the KYC documents, they should do so at the earliest; otherwise, they may not be able to renew or purchase a mediclaim policy. You can collect the KYC form for health insurance from the insurer.

Keeping every health insurance document ready in advance makes the overall experience smoother and stress-free.

FAQs

1. Is Aadhaar mandatory for health insurance?

Aadhaar is not mandatory. You can submit other valid identity and address proofs if you do not wish to use Aadhaar.

2. Is a PAN Card mandatory for health insurance?

PAN is generally required. If PAN is not available, Form 60 may be accepted as an alternative.

3. Who is not eligible to buy a health insurance policy?

People who do not meet the insurer’s age criteria, fail to submit valid documents or do not disclose required information may not be eligible.

4. Can I apply for health insurance without certain documents?

You can start the application process, but the policy will only be issued after all required documents are submitted and verified.

Disclaimer: The above information is for illustrative purpose only. For more details, please refer to policy wordings and prospectus before concluding the sales.

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