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Ever wished to have an account that could manage all the important documents of the insurance policies you and your family members hold?. Well, consider your wish granted as an e-insurance account does exactly that for you!
An Electronic Insurance Account or eIA is a repository that helps to manage your or your family member’s insurance policies by storing them in one place. Available in electronic mode, the insurance policies can be easily maintained and one can get access to them anywhere and at any time.
You can open an e-insurance account via an insurance company that has a tie-up with repositories or any of the four IRDA approved insurance repositories. They are:
Step 1: Select your preferred Insurance Repository and then download the opening form.
Step 2: Provide the necessary details mentioned in the form and attach self-attested KYC documents.
Step 3: Submit the attested documents along with the form to the insurance repository.
The e-insurance Account offers multiple benefits, a few of them are as follows:
The policies under the account are available in an electronic format. This grants you the leverage to be free of all the worries of losing an original document, theft, damage to the papers and more.
Once your account is open and active, you can easily pay the insurance premium amount online. The payment can be easily done via the account rather than waiting in long queues for hours to pay the premium in cheque or cash.
A yearly statement of the account along with the details of the various policies held by you is shared by the insurance repository. The account also enables you to receive notifications for the renewal of policy and reminders for premium deadlines too. This makes monitoring an easy task for the insured individual.
Once the KYC documents are submitted and the account is active, you aren’t required to submit the documents again for every insurance policy bought in the future. All you need is to mention the insurance policy account details and the policy will be issued.
You can easily convert an old policy into an e-policy and add it into the account seamlessly. You can also open an account if you haven’t purchased any insurance policy.
Now that you’re aware of an e-insurance account, it’s now time for you to reap its benefits. Open an account today to avail yourself of convenience for the future.