Home / Articles / Benefits Of Opening An e-Insurance Account-eIA

Benefits Of Opening An e-Insurance Account-eIA

Benefits Of Opening An e-Insurance Account-eIA
Benefits Of Opening An e-Insurance Account-eIA
eIA Account, e Insurance Account, benefits of e Insurance Account, benefits of eIA, open an e Insurance Account, How To open an eIA, what is e-Insurance policy, how to apply an e-Insurance policy, e-Insurance account opening process, e-Insurance account pdf documents, how to open e-Insurance account online, how to register e-Insurance policy online, e-Insurance policy features, e-Insurance account features, Insurance Repository Service Providers

e-Insurance Policy-e-Insurance account features and its benefits
‘e-Insurance Account’ (eIA) is the portfolio of insurance policies of a proposer/policyholder held in an electronic form with an insurance repository. This e-Insurance account facilitate the policyholder by providing access to the insurance portfolio at a click of a button through internet. This will help eIA holder to keep a track of insurance policies (life as well as non life) under one umbrella.

Finally you can maintain your insurance policies in electronic form.

What is an ‘Insurance Repository’? and its objective
‘Insurance Repository’ is a company formed and registered under the Companies Act, 1956. It has also been granted a certificate of registration under the “Guidelines on Insurance repositories and electronic issuance of insurance policies” by IRDA. NDML has named its repository as National Insurance-policy Repository (NIR)

The objective of creating an insurance repository is to provide policy holders a facility to keep insurance policies in electronic form and to undertake changes, modifications and revisions in the insurance policy with speed and  accuracy in order to bring  about efficiency, transparency and cost reduction  in the issuance and maintenance of insurance policies.

Fees Requirement for Opening An e Insurance Account-eIA, e-Insurance policy
Opening and Maintaining of Electronic Insurance Account (eIA) is completely FREE. No charges need to be paid by investors. Charges for services are paid by Insurance Companies to these repositories. Therefore no charges are levied on policy holders/eIA holders and There will be no hidden cost/charges involved

There are multiple benefits in Opting new insurance policies in electronic mode(e-Insurance account-eIA)
Maintain, store and retrieve your policies and the information in them easily

You can modify or revise your insurance policies with speed and accuracy

It will help increase efficiency and transparency

It will reduce the cost of issuing and maintaining insurance policies

There is no risk of loss or damage of a policy as may happen with paper policies

electronic form ensures that the policies are in safe custody and can be easily accessed when needed

How to open an e Insurance Account-eIA, e-Insurance policy
To open an e IA, you need the fill out an account opening application form of the Insurance Repository along with the necessary supporting documents. Application Forms would be available in all offices of the Insurance Repository, once they are operational. They can also be downloaded from the respective website or you can fill out an application online at the website). You can also contact your Insurance Advisor (Agent) for an application form. You can submit the signed e IA application form at any Insurance Repository office. If you are applying to open an e IA at the time of buying a new Insurance Policy, it may be best to hand over the e IA form, along with the insurance proposal form, to the Insurance Company.

To open an e IA, you need to necessarily have either a PAN or Aadhar number. When submitting your e IA application, please ensure that you provide copies of your PAN or Aadhar, Address Proof and proof of date of birth, along with a passport size photograph. You also need to show the original of address proof for verification (the list of acceptable address proof documents is given elsewhere).

For More Details Visit —> National Insurance-policy Repository (NIR)

open an e Insurance Account-eIA, e-Insurance policy Online
You can submit the e Insurance Account (eIA) request by filling the eIA application form online. After filling the details, take a printout of the completed eIA application form and submit it alongwith the KYC details to the nearest Approved Person for generation of the eIA number.

—> Click Here for e Insurance Account-eIA, e-Insurance policy application form online

—> Click Here to download e Insurance Account-eIA, e-Insurance policy application form

—> Click Here for List of AP’s-Approved Persons where e Insurance Account-eIA, e-Insurance policy Application can be submitted

Proofs Required for submiting KYC forms for e Insurance Account-eIA, e-Insurance policy at AP’s-Approved Persons

Proof of Identity (any one of the following)
1. PAN
2. UID

Proof of Address (any one of the following)
1. Regd. Lease and License Agreement/ Agreement for sale
2. Aadhar Letter
3. Ration Card
4. Driving License
5. Passport
6. Voter ID Card
7. Bank Passbook (not more than 6 months old)
8. Electricity Bill (not more than 6 months old)
9. Residence Telephone Bill (not more than 6 months old)
10. Self-declaration by High Court and Supreme Court judges, giving the new address in respect of their own accounts
11. Identity card/document with address, issued by Central/State Government and its Departments
12. Identity card/document with address, issued by Statutory/Regulatory Authorities
13. Identity card/document with address, issued by Public Sector Undertakings
14. Identity card/document with address, issued by Scheduled Commercial Banks
15. Identity card/document with address, issued by Public Financial Institutions
16. Identity card/document with address, issued by Colleges affiliated to universities
17. Identity card/document with address, issued by Professional Bodies such as ICAI, ICWAI, Bar Council etc. to their Members

Along with the KYC documents the date of birth proof also has to be submitted, the documents acceptable are as below:

Proof of Date of Birth (any one of the following)
1. PAN Card
2. Domicile Certificate
3. Ration Card
4. Driving License
5. Passport
6. Voter ID Card
7. Municipal birth Certificate
8. Notarized Birth Certificate
9. Baptism Certificate
10. Marriage Certificate issued by Church
11. Identity card/document with address, issued by Central/State Government and its Departments
12. Gram Panchayat Certificate
13. Identity card/document with address, Public Sector Undertakings
14. Defense ID including Ex-serviceman card issued to Defense personnel/ certificate of DOB issued by commanding officer with his seal & signature on the same
15. Identity card/document with address, issued by Colleges affiliated to universities
16. Central Govt. Health scheme certificate for their employees/ family members/ dependants
17. Govt. service registers extract/certificates issued by Govt. to its employees
18. Employer’s PF statement
19. ESIS Card ( Employees State Insurance Scheme )
20. Employer’s certificate from Govt, Semi Govt., MNC, Public Ltd, Reputed Private Ltd. Organizations only The certificate must be on the letterhead, duly signed & stamped by the authorised signatory
21. Certified School/ College Extract including School/ College leaving certificate/ Degree certificates/ mark sheet or hall ticket or admit card issued by Educational Board (10 & 12th std) reflecting DOB of eIA applicant
22. Policy Document of other private insurers
23. LIC Policy
24. Islander cards for Residents of Andaman & Nicobar Island
25. Pilgrim pass issued for Haj Pilgrimage