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What is an e-Insurance Account 2024?
e-Insurance Account also known as Electronic insurance account, or e-IA. Starting April 1, 2024, Insurance like health, life, and other general insurance policies must be issued in a digital online form known as E-Insurance Account.
It is a repository where you can conveniently manage all of your insurance plans, including life, health, and other types of insurance. Keeping track of your insurance coverage is made easy but effective with the help of the e-IA. This feature was added by the Insurance Regulatory and Development Authority of India (IRDAI) to help policyholders access their policies in a digital format from anywhere at any time.
All of the policies that policyholders own will be kept in one account and can be accessed anytime needed. To access the electronic policies online, each e-Insurance Account will have a unique Login ID and Password and a unique Account number.
All the details you need to apply for the e-Insurance Account 2024 are given below, How To Apply, Required Documents, Official Website, Benefits, and more.
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Required Documents for e-Insurance Account 2024
- Recent photograph
- Cancelled Bank Account Cheque
- Date of birth document (Voter ID / Aadhaar Card / Birth Certificate)
- Identity proof
- PAN card
- Address proof
Benefits and Characteristics of e-Insurance Account 2024
- Any of India’s four IRDAI-authorized insurance repositories can simply open an e-IA.
- Opening an e-IA is free of cost.
- Only one time KYC is needed.
- Under your name, you can have only one e-insurance account number.
- No more hassle for the physical insurance documentation. All of the policies are safe and secure because they are all digitally kept in the e-IA.
- You can keep a number policies, such as health, life, or any other insurance in the same account, even if they are from different insurers.
- When you purchase an insurance policy, the insurance provider will send a copy of the policy to your account if you give them your e-insurance account number.
- You will receive a unique account number after your account is created, which you can use for further needs.
- Also, just like your bank account, you will receive a unique login ID and password for accessing your insurance account anytime anywhere.
4 IRDA Approved Insurance Repository:
- NSDL Database Management Limited
- CAMS Repository Services Limited
- Central Insurance Repository
- Karvy Insurance Repository Limited
ALL IMPORTANT LINKS
NSDL Database Management Limited | CLICK HERE |
CAMS Repository Services Limited | CLICK HERE |
Central Insurance Repository | CLICK HERE |
Karvy Insurance Repository Limited | CLICK HERE |
Policy Conversion Form | CLICK HERE |
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How to Apply For e-Insurance Account 2024?
- To apply, select any one of the four insurance repositories that have been approved by the IRDA.
- Download or fill the insurance repository’s E-insurance account opening form according to your choice by going to the ALL IMPORTANT LINKS section mentioned above and CLICK on the LINK infront of your preferred repository.
- Complete the form and attach all the required documents.
- Provide a cancelled cheque or your bank details.
- Submit the form to your insurer or insurance repository with verified copies of the documents.
- Within seven days of the form’s submission date, your account will be active, getting all of the supporting documentation.
- To get access to the account, a user ID and password will be provided to you.
Also Read: PM Suryoday Yojana 2024: Government Is Giving Free Solar Panels To 1 Crore Houses
How To Convert An Existing Policy To An E-Insurance Account?
- To convert an existing policy, go to the ALL IMPORTANT LINKS section mentioned above and CLICK on the LINK infront of Policy Conversion Form.
- Download and fill the Policy Conversion Form and then Submit the Policy Conversion Form along with the e-Insurance Account Opening Form.
FAQ
Q. What is the full form of eIA?
Full form of eIA is e-Insurance Account or Electronic Insurance Account.
Q. What is the full form of IRDAI?
Full form of IRDAI is Insurance Regulatory and Development Authority of India.
Q. What is an e-Insurance Account (eIA)?
e-Insurance Account or eIA is an online account. In eIA you can have all your insurance policies at one place which you can access anytime anywhere on your fingertips. No need to worry about physical insurance documents.
Q. Is opening an e-Insurance account free of cost or not?
Opening an E-insurance Account is free of cost, no extra charges need to be paid.