You might be aware of demat account. The benefit of demant account is that it keeps all investments electronically together in one account. The investors will have no fear of losing the physical documents.
Soon the Insurance investors will be able to have e-insurance (electronic insurance) account.
Soon the Insurance investors will be able to have e-insurance (electronic insurance) account.
- The IRDA has registered 5 companies as Insurance Repositories - NDSL Database, Central Insurance Repository, SHCIL Projects, Karvy & CAMS.
- The above companies will maintain data of insurance policies in electronic form for insurers and will open e-insurance accounts for policyholders.
- The biggest benefit is that Insured would no longer have to worry about losing your insurance companies.
- The insured will get a username and password and it will be easier for the insured's nominee to track insurance details when required.
- The insured should definitely share the account details with the nominees.
- Not only Life Insurance, the account will allow the insured all other insurance policies also like Car, Health etc. The insured will have the option of opening multiple accounts.
- The Insured will also be able to transact online like remitting premiums and sending service requests like switching over the plans.
- Opening an e-Insurance account is free of cost and the insured has the option of moving from one insurance repository to another.
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