New Insurance Rules Effective from April 1, 2024
Demat e-Insurance Account Mandatory for New Policies & Latest Surrender Charges Revealed!
Dev Chourasiya
4/13/20241 min read
Table of Contents
Introduction
Embracing Digital Transformation
Simplifying Processes, Enhancing Customer Experience
Surrender Charges: What Policyholders Need to Know
Looking Ahead: A Digital Future for Insurance
Conclusion
Intoduction
In a significant move towards modernization and streamlining processes, the Insurance Regulatory and Development Authority of India (IRDAI) has mandated the adoption of electronic insurance policies starting from April 1, 2024. This revolutionary shift parallels the system where investors hold shares in a demat account, introducing the concept of e-Insurance Accounts (eIA) to hold insurance policies electronically.
