How to Open an E-Insurance Account for Health Insurance?

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You can open an e-insurance account for health insurance with an insurance repository and fill out the form provided by the repository. An e-insurance account allows you to manage different types of insurance policies in one place. Let us understand the account opening process and the benefits of using it.


What is an e-Insurance Account?


An e-insurance account (eIA) in healthcare helps you manage all your insurance policies, like life insurance, health insurance, and motor insurance, with a single account. The Regulatory and Development Authority of India (IRDAI) has introduced the eIA, which makes the process of managing insurance policies hassle-free.


Once you open this account, IRDAI authorises an insurance repository (IR) to manage data on insurance policies digitally on behalf of insurers and policyholders. The IR stores the data digitally, so that you can access the policies whenever you need.


How to Open an e-Insurance Account for health insurance?


To open an e-insurance account for health insurance, you need to choose an insurance repository among CDSL Insurance Repository Limited, NSDL National Insurance Repository, CAMS Insurance Repository Services Limited, and Karvy Insurance Repository Limited. Once you choose, follow the steps below to complete the procedure:



  • Step 1:Download the application form and fill it out by entering all the necessary details.



  • Step 2:Attach your KYC documents, including identity proof, address proof, and date of birth. You should also submit a passport-size photograph.



  • Step 3: Submit personal and bank details.



  • Step 4: After seven days, your new eIA account will be processed and opened.


What are the Benefits of Having an e-Insurance Account?


An e-insurance account for health insurance can provide you with security, convenience in tracking, and a smooth payment procedure. Let us break down these benefits below:


1. Safety


An insurance policy in digital format is secured from theft or loss. In addition, you can access it from anywhere and at any time.


2. Convenience


An e-insurance policy helps you to see your policy details, like premium dates, coverage, and terms, with just a click.


3. One-time KYC


With this account number, you do not have to submit your KYC documents every time you buy a new policy. By providing your e-insurance account number, you can buy a new health insurance policy without any KYC.


4. Easy to Track


You can receive a yearly statement of your eIA, with all details of your health insurance policies you hold, by entering the eIA number.


5. Smooth Payment


When your e-insurance account gets active, you can make your premium payment online using this account. You do not have to pay via cash or cheque while using the eIA account.


Final Thought


To open an e-insurance account, you need to provide one-time KYC documents like a PAN Card and a driving license. However, you must remember that you can have only one eIA account with your name. As an account holder, you will get a unique login ID and password to access your e-insurance account.