Today, you can get insurance for nearly everything. After all, it is the most effective approach to protecting yourself financially from unanticipated challenges. However, keeping track of all of your insurance plans and their renewals may be a daunting process. Fortunately, e-insurance allows you to manage all of your insurance products, including health insurance, in one spot.
Consider yourself quite fortunate that you now have easy access to E-insurance.
You may be wondering:
What is an E-Insurance policy?
An E-Insurance is similar to a repository, where you can manage your life insurance, health insurance, and other insurance plans in one spot. All policies kept in e-insurance accounts are referred to as e-insurance.
An e-insurance coverage saves you from needless paperwork. It protects you against insurance loss or theft.
You can access your policy anytime, anywhere you want, and in a matter of a few seconds and a few clicks.
Some of the best insurance repositories in India include CAMS Insurance Repository Services Limited, NSDL Database Management Limited, and Karvy Insurance Repository Limited. These companies offer a range of services and features to help policyholders manage their insurance needs.
We’re sure you’re all excited to know more about e-insurance policies. So brace yourself, for we’re going to pull back the curtain and share the features and benefits of e-insurance with you.
Features of an E-Insurance Account:
- A person may only have one E-insurance account under his or her name.
All electronic insurance policies, including life, pension, general, and health insurance, may be kept in the same account, even if they come from different insurers. - Each e-insurance account is granted a unique account number that may be used in all interactions.
- When purchasing an online insurance policy, just include his or her unique e-insurance account number in the proposal form and submit it with a request to issue the policy in electronic format.
- Because the insurance repository has already confirmed the KYC papers, there is no need to fill out the KYC form and resubmit them.
- Every account holder receives a unique login ID and password that allow them to access their e-insurance accounts.
What Can You Do with an e-Insurance Account?
The e-Insurance Account is a one-stop solution for all of your insurance needs. Look at what you can accomplish with your eIA.
1. View and manage all of your policies: All of your policies’ main data, such as policy type, coverage, amount insured, premiums, expiration dates, and more, are shown in one spot.
2. Dematerialize current policies: Convert physical policy papers to electronic format for safe preservation and simple access.
3. Pay premiums conveniently: Use the e-Insurance Account to pay for all of your insurance online, avoiding the need for manual processing and associated delays.
4. Update contact information: Change your address, phone number, or email address once in your e-Insurance Account, and it will be instantly updated across all of your connected policies.
5. Track claims: You may check the progress of your claims online and get updates immediately in your e-Insurance Account.
6. Download policy documents: You may access and download copies of your policy papers at any time, from anywhere.
7. Get premium reminders: Create alerts and messages to remind you of impending subscription payments.
8. Compare policies:. Compare insurance side by side to make an educated choice when getting new coverage.
Benefits of E-Insurance Accounts
- Safety & Security
Having online insurance coverage has its advantages. It protects your insurance coverage against theft and loss. Because your insurance policy is in electronic form, you may access it from anywhere, at any time, with a single click.
- One-time KYC Submission
Your e-insurance account number eliminates the need to submit KYC papers each time you purchase a new insurance policy. All you need to do is enter your online insurance account number, and you’re done.
- Convenience
One single online insurance account is adequate to buy various insurance plans from a variety of insurers; how convenient is that?
- Easy Premium Payment
When your online insurance account is open and operational, you may use it to pay your insurance premium online. You don’t have to wait in lengthy lines to pay your insurance payment with cash or a check.
- Easily track your policies.
The insurance repository provides the insured individual with an annual statement of account that includes information about all of his or her insurance policies. It makes it easy for the insured to track their insurance coverage.
Now that you understand the advantages of e-insurance, it’s time to create an e-insurance account.
To establish an e-insurance account, follow the steps outlined below.
How do I open an E-Insurance account?
Opening an e-insurance account is a quick and straightforward procedure. All you need to do is follow the step-by-step instructions below.
Step 1: Download the E-Insurance Account Opening Form from your favourite insurance repository.
Step 2: Complete the form and attach a self-attested copy of the KYC papers.
Step 3: Submit the paperwork and self-attested documentation to your selected insurance repository.
KYC Documents Required for Opening an E-Insurance Account
To open an online insurance account, all you need to do is submit the following documents.
- Your Latest Passport Size Photo
- A Cancelled Cheque
- Any one of the following KYC (Know Your Customer) documents:
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- Identity Proof- Voter Identity Card, PAN Card, or Aadhaar Card.
- Address Proof- Ration Card, Driving License, Aadhaar Card, etc.
- Date of Birth Document- Ration card, PAN Card, Domicile Certificate, etc.
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Once your submitted application is accepted, an account number along with the login ID and password will be allotted to you. With your credentials, your online insurance account is one click away.
Conclusion
Are you still keeping physical copies of your insurance documentation in a folder? How much time do you spend browsing through paperwork while renewing or submitting claims? With an E-insurance account, you can now keep track of all of your policies, whether they are for your own or your family’s health, life, auto, or house insurance. The nicest aspect of this online account is that you may access it at any time and from any location with only a few clicks. If you do not have health insurance, get the finest health insurance to protect yourself financially from medical crises.