PAN required even for Insurance Policies

Thebullishtrends: As per the Union Budget 08-09, PAN is mandatory for all type of financial transactions it is required even if you wish to take Insurance Policies or to do transactions in post office, however the budget not yet confirmed the type of transactions but it noticed that the PAN is mandatory for all financial transactions. Earlier in last year SEBI has made compulsory the PAN no. is compulsory for all Securities transactions including mutual funds.