Dear Basu Sir,
I want to know that is it mandatory to convert physical insurance policies into eIa form? Because I have bought three different policies from the different insurers but all of them are held in physical that’s why I am asking that is it mandatory to convert all these policies into electronic form provided by the NSDL? I also have my eIa Account. Please guide me in this regard.
As of now, it is not mandatory. But soon IRDA making is mandatory. It is better to hold the insurance documents in e-format. Because physical safe keeping is risky. Hence, IRDA brought this new change.
You have to check with your respective insurance company and try to create them in to e-format.