E-Insurance Account: Why Every Indian Family Needs One (and How to Open It)

Last Updated on April 22, 2026 by teamtfl

“A well-organised financial life is a safer financial life.” – Anonymous

A client called me two years ago. His father had just passed away and the family was trying to trace all the insurance policies he held. They knew he had multiple policies – LIC, a private term plan, health insurance – but could not find the policy documents for several of them. The insurers were willing to settle claims, but without policy numbers, the process stretched for months and required multiple visits and paperwork rounds.

This is one of the most common and most preventable problems in Indian family finance. Scattered insurance documents, policies across multiple companies, renewals missed, and nominees who have no idea what covers exist or how to claim them.

The e-insurance account (eIA) was created precisely to solve this – and IRDAI has made it increasingly central to how insurance policies are issued and managed in India.

What Is an E-Insurance Account?

An e-insurance account is a digital repository for all your insurance policies. Think of it as a demat account – but for insurance instead of shares. Just as your shares are held in electronic form in a demat account maintained by NSDL or CDSL, your insurance policies are held in electronic form in an eIA maintained by an Insurance Repository.

IRDAI has authorised the following insurance repositories to maintain eIAs: CAMS Repository Services, Karvy Insurance Repository, NSDL Database Management, and CDSL Insurance Repository. Each holds your policies electronically and provides a single dashboard view of all your insurance across all insurers.

From IRDAI’s mandates, new policies meeting defined criteria (sum assured above Rs 1 lakh for life, Rs 5 lakh for health; premiums above Rs 10,000 annually) must be issued in electronic format and linked to an eIA. Since 2016, the threshold for mandatory e-issuance has been progressively expanded and IRDAI’s BIMA CENTRAL initiative has further integrated digital policy management.

“The family that spends a weekend organizing their insurance – mapping every policy, updating nominees, linking everything to an eIA – has done one of the most important financial planning tasks available to them. Your family should never have to hunt for insurance documents at the worst possible moment.”

– Hemant Beniwal, CFP, CTEP | Founder, RetireWise

Why an E-Insurance Account Matters for Retirement Planning

By the time most people reach 50-60, they have accumulated insurance from multiple sources over decades: an LIC policy bought in their 20s, a term plan from 2010, a health policy from the current employer, a private health floater, motor insurance, perhaps a critical illness rider. These policies sit across multiple companies, different renewal dates, different nominees (some outdated), and paper documents scattered across files and cupboards.

An eIA consolidates all of this into a single view. When you retire, knowing exactly what cover you carry and what lapse dates apply is part of retirement income planning. When you pass away, your family should not need to be financial investigators to identify your covers.

There is also a more immediate benefit: the eIA system automatically sends renewal reminders before each policy lapses. In the fog of daily life, this alone can prevent the catastrophic mistake of a term insurance lapse.

How to Open an E-Insurance Account

Opening an eIA is free of charge and takes approximately 5-7 working days. You can open one through any of the four IRDAI-authorised Insurance Repositories: CAMS Repository (camsrepository.com), Karvy Insurance Repository (kinrep.com), NSDL Database Management, or CDSL Insurance Repository.

The process: visit the repository’s website, download and complete the account opening form (or fill it online), and submit it with KYC documents (PAN card or Aadhaar), bank details, and a cancelled cheque. You will also be asked to name an Authorised Representative – a person who can manage the account on your behalf if you are unable to. This is not the same as your nominee; it is someone who manages the account administratively.

Once your KYC is verified and the account is open, you receive login credentials. Existing policies can then be converted to electronic format by informing your insurer of your eIA number. New policies above the defined thresholds will automatically be linked at issuance.

What Happens to Existing Paper Policies?

Once a policy is converted to electronic format and held in your eIA, the original paper policy document may be destroyed by the insurer. This is important to know: once digital, the eIA is the primary record. Keep your login credentials secure and ensure your Authorised Representative knows how to access the account if needed.

For existing policies not yet converted, check with your insurer whether they have linked to the eIA system. Most major life and health insurers now support eIA integration.

Read – How to Choose Health Insurance in India: The Features That Actually Matter

Read – How Banks Mis-Sell Insurance – and How to Protect Yourself

Frequently Asked Questions

Can I hold policies from different insurers in one eIA?

Yes – this is the primary purpose of the eIA. A single eIA can hold policies from multiple life, health, motor, and general insurance companies. You do not need a separate account for each insurer. The repository acts as a central custodian for all your policies across the market.

What if I need to make a claim? Does the eIA complicate or simplify the process?

The eIA simplifies claims significantly. The policy is stored electronically with complete terms and details. Your family can access the policy information from the eIA dashboard rather than searching for paper documents. The repository also maintains contact information for each insurer, making it easier to initiate claims. The claim itself is still processed by the insurer, not the repository – but having the policy details immediately accessible removes a major source of delay and difficulty.

What is the difference between buying a policy online and having an e-insurance account?

These are completely different things. Buying a policy online means purchasing directly from an insurer’s website or an aggregator – this is about the purchase channel. An eIA is about where and how the policy is stored and managed after purchase. You can buy a policy online and have it stored in your eIA. You can also buy through an agent and still have the policy stored in your eIA. The eIA is a repository, not a purchase platform.

The insurance you buy is only as useful as it is accessible and up to date. An e-insurance account is the infrastructure that makes your insurance actually work – for you while you are alive and for your family when they need to access it most. If you have not opened one and linked your policies yet, this is the weekend’s financial planning task.

One account. All policies. Accessible when it matters most.