Prices Increasing soon Prices Increasing Soon

All You Need to Know about E-Insurance

Say goodbye to the paperwork hassles that may arise when you manage your life insurance policies manually. Switch to the electronic insurance and manage all policies digitally at a single place. Currently, only life insurance and pension plans can be stored electronically. Here are some things that you need to know about the electronic insurance account (EIA).

Read more
Gets ₹1 Cr. Life Cover at just
COVID-19 Covered
The Policybazaar Advantage
Dedicated claim support for family FREE
Upto 10% discount for buying online
Only certified experts will call you on 100% recorded lines
We are rated~
rating
6.7 Crore
Registered Consumers
51
Insurance Partners
3.4 Crore
Policies Sold

#All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply

By clicking on "View plans" you agree to our Privacy Policy and Terms of use

~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ

Life is Unpredictable! Protect your family’s future
Get ₹1 Crore Life cover starting from ₹384/month+
+91
Secure
We don’t spam
Check Your Premium Now
Please wait. We Are Processing..
Get Updates on WhatsApp
The Policybazaar Advantage
Policybazaar Advantage Icon
Dedicated claim support for family FREE
Policybazaar team will help and support you at the time of claim. A personal claim handler from our team of experts will get in touch with you when your nominee applies for a claim on our website.
Policybazaar Advantage Icon
100% calls recorded to ensure no mis-selling
We will make sure you get what is promised by the advisors. We conduct regular monitoring of our calls to make sure you get the best experience.
Policybazaar Advantage Icon
Exclusive lifetime discount upto 5% for buying online
The discounts will be valid for the entire policy payment term and is not available if you choose to buy the insurance through offline agents.
Policybazaar Advantage Icon
Advisors available in your city
Our advisors are available in more than 55 cities across India and can help you at your doorstep in understanding the plans and in documentation.
Policybazaar Advantage Icon
Refund at the click of a button
In case you aren’t happy with your purchase, you can cancel your policy hassle-free at the click of a button. We will help you with the cancellation and refund of your policy.

What is Electronic Insurance Account?

The electronic insurance account or e-insurance account stores life insurance policies in the electronic format. Your entire portfolio is accessible with a click of the mouse.

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

How e-Insurance Account works?

Much like demat or bank account, you have a service provider who opens an insurance repository to store your policies. This acts as the central storage place for all your insurance policies. You can also store the insurance policies of different insurers in the same account.

IRDAI has authorized 5 repositories to open an e-insurance account. These authorities maintain the data of insurance policies on behalf of the insurers. You can choose any of the following repositories to open an account.

  • NSDL Database Management Limited

  • Central Insurance Repository Limited

  • CAMS Repository Services Limited

  • Karvy Insurance Repository Limited

  • SHCIL Projects Limited

Note:- An individual can’t hold multiple e-insurance accounts.

How to open an E-Insurance Account?

To open an e-insurance account, fill and submit an application form to the insurance repository you have selected along with the necessary documents such as address proof, identity proof and cancelled cheque. The account will be opened within 7 days of the receipt of the application form. Once the account is created, you will get a welcome kit. Your pin number shall be sent separately.

How to make changes in the insurance policy?

The insurance repository is your single point of service, so submit your request to it to make changes.  If the change is at the account level (contact or address details), the repository will execute it after the due verification and then inform the insurer. To make changes at the policy level, (sum assured or nomination) the repository is expected to forward the request to the respective insurer and ensure the changes are also updated in the e-insurance account.

What are the benefits of e-insurance account?

When you store your policies in the electronic form, you don’t run the risk of losing your insurance documents. As all details are available at one place, it becomes easy to track the information. Also you can pay premiums for different policies at one point by login to your account. With the repository as your single point of service, updating details such as address, phone number and email id becomes more convenient and fast. You will be relieved from the tedious job of going through the piles of paper.

How much e-insurance account costs?

For policyholders, it is a free service. Also no fee is charged for converting an existing physical policy into demat form. The insurance repositories are paid directly by the insurance companies whose policies are held in the repository.

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

How to buy a new insurance policy through e-insurance account?

Buying a new policy becomes a hassle-free experience if you have an e-insurance account. Quote your unique e- insurance account number in your new insurance proposal. Since KYC documents had already been submitted, the insurer won’t repeat the entire process, provided there has been no change in the information. The policy will show in your account once it is issued.

Different types of Plans


Premium By Age

Life insurance articles

  • Recent Article
  • Popular Articles
09 Aug 2023

What High Net Worth Individuals (HNIs) Do To Secure Their...

High net worth individuals often opt for life insurance plans to

Read more
28 Jun 2023

A Review Of ICICI Prudential Life Insurance

“Policy Bazaar insurance clarified the term policy for me, so

Read more
27 Jun 2023

A Review Of HDFC Life Insurance

“I recently bought an HDFC term plan and it is the best

Read more
20 Jun 2023

Best Life Insurance Policy in India with High Returns

The best life insurance policy in India is a type of life

Read more
20 Jun 2023

Which Insurance is Best in India?

Insurance is a financial product that transfers the risk to a

Read more
27 May 2014

How to Check LIC Policy Status, Details, Statement via...

Last year, Mr. Rajiv Verma bought a Child LIC policy to provide financial security for his kid's future. However

Read more
25 Feb 2022

SBI Life Insurance 50,000 per year Plan for 5 Years

Life insurance is about the financial protection of the family and working for life’s milestones through smart

Read more
23 Mar 2022

SBI Life Insurance Policy Surrender Value Calculator

SBI life insurance policy surrender value calculator is an online tool that helps users calculate the amount they

Read more
09 Mar 2022

PLI Surrender Value Calculator

PLI Surrender Value Calculators have proven to be one of the simple tools for digitally savvy customers. PLI

Read more
top
View Plans
Close
Download the Policybazaar app
to manage all your insurance needs.
INSTALL