What is the Full Form of EIA in Insurance?

The EIA Full Form in Insurance is e-Insurance Account. An e-Insurance Account is nothing but just an electronic form of one’s life insurance portfolio, which is accessible just in a click.

Kind of having a special folder where you keep, see, and take care of all your life insurance papers, but all online.

E-Insurance Account Summary:

You can visualize an e-Insurance Account as your personal insurance folder without any involvement of paper. This means that you no longer need to keep real, touchable/physical policy papers. Wonderful, isn’t it? All your insurance will be available for you to view and manage from one digital place. And with any change of an address or phone number, you will update this information only once for all the policies.

Benefits of an EIA:

The e-Insurance Account is absolutely free to use. Forget the hassle of handling numerous hard copies of papers, all the relevant insurance papers remain secured in the computerized vault.

This means less mess at home and no worries about losing important papers or them getting ruined.

Government Initiative and Regulatory Compliance:

E-Insurance Account is one of the initiatives as part of a broader government plan to bring more people under the ambit of using digital stuff and to be complementary to the overall objective of ensuring universal access to financial services. This also provides assurance that insurance companies are actually aboveboard in the game, taking care to assure everyone a fair shake.