What is e-Insurance Account (eIA)?

e-Insurance Account or Electronic Insurance Account is an account similar to a Demat account. The difference is that while Demat account is used for keeping various types of securities issued by different companies (like shares, mutual fund units, bonds etc.), e-Insurance account is used to keep various types of life and non-life insurance policies issued by different insurance companies. eIA gives policyholders access to their insurance portfolio at a click. The policyholder can view and manage all their insurance policies in a single account.

IRDAI, which regulates insurance companies in India, has authorised some entities including NSDL Database Management Limited (NDML), which is a 100% subsidiary company of NSDL, to act as ‘Insurance Repository’ and facilitate the opening of e-Insurance Account. One can submit an application form to open e-IA in paper form at the office of any ‘Approved Person’ (list available at https://nir.ndml.in/ap-details.htm).

Alternatively, you may do so online at https://nironline.ndml.in/NIR/onlineEiaApplicationHome.html. Once filled, you can submit the e-Insurance account opening form along with the KYC documents to the nearest approved outlet. Alternatively, you can also submit the form along with supporting documents to the branch of Insurance Company of which you hold the insurance policy.

Documents required for opening eIA

1. Proof of Identity
2. Proof of Address
3. Proof of Date of Birth


There is no fee/charge payable for opening and operating eIA, means it is completely free for policyholders.

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Author and Assistant Professor in Finance, Ardent fan of Arsenal FC. Always believe "The only good is knowledge and the only evil is ignorance - Socrates"
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