E-Insurance Account mandatory from October 1’2016 – How to convert your insurance policies in electronic form

E-Insurance account is soon going to become a mandatory thing while buying new insurance policies and even while renewing your existing policies. This applies to all kind of insurance policies be it Life, Health, Motor, Travel etc.

As per IRDA (Issuance of e-Insurance Policies) regulations, 2016; from 1 October 2016, most of the Insurance policies will be issued in electronic form. Electronic Insurance policies will be issued if either the sum assured or either the Sum assured or Single/Annual Premium criteria is met, as mentioned in the table below. For more information visit Financial Advisor for NRIs in India