Demat

(Frequently asked questions)

1) WHAT IS E-IA ACCOUNT(DEMAT)

Answer: eIA stands for e-Insurance Account or "Electronic Insurance Account" which will safeguard
the insurance policy documents of policyholders in electronic format. This e-Insurance account will
facilitate the policyholder by providing access to the insurance portfolio at a click of a button through
internet.
Each e-Insurance Account will have a unique Account number and each account holder will be
granted a unique Login ID and Password to access the electronic policies online.

2) WHAT ARE INSURANCE REPOSITORIES(IR)

Answer : "Insurance Repository" means a company formed and registered under the Companies Act,
1956 (1 of 1956) and which has been granted a certificate of registration by Insurance Regulatory and
Development Authority (IRDA) for maintaining data of insurance policies in Electronic form on behalf
of Insurers. The Insurance Repositories provide the ease of holding insurance policies issued in an
electronic form.
Insurance companies will upload the policy details of the customer on the Insurance Repositories
portal for customer to view the same with the help of e-IA account.

3) WHICH ARE THE 4 DIFFERENT IRS

Answer :
1) NSDL Database Management Limited
2) Central Insurance Repository Limited
3) Karvy Insurance Repository Limited
4) CAMS Repository Services Limited

4) IS THE DEMAT ACCOUNT OF SHARE TRADING SAME WITH THAT DEMAT ACCOUNT
OF INSURANCE
Answer : No, both are two different accounts. Demat account of shares is governed by SEBI and
demat account of insurance is governed by IRDA.

5) WHAT ARE THE BENEFITS OF DEMAT

Answer:
Eliminates multiple KYC
Lacunae relating to physical documents is eliminated
Policies in electronic format
Single view for all policies
Portfolio tracking for insurance Policies
Platform based on internet
Access based on unique Login ID and Password
Eliminates Loss Due to Theft/Natural Disaster
Consolidated insurance statement on an annual basis
Online payment for Renewal Premium
Alerts and messages
Alerts on transactions / modification
Eliminates communication to different Insurance companies separately for updations
User friendly navigation
All insurance policies under one umbrella

6) WHAT ARE MANDATORY DOCUMENTS FOR OPENING EIA

Answer:

Self attested PAN or UID card

Address proof

Photograph

Cancelled cheque

7) ARE THERE ANY CHARGES FOR OPENING EIA ACCOUNT

Answer : No there are no charges for opening the e-IA account

8) CAN CUSTOMER OPEN MORE THAN 2 EIA ACCOUNTS

Answer : No Customer cannot have 2 e-IA accounts, but customer can shift the IR by closing the e-IA
account with one IR and open with the other.

9) HOW CAN I OPEN EIA ACCOUNT & CREDIT THE POLICY

Answer: eIA account can be opened by submitting the demat consent with HDFC Life or by submitting
demat application directly to IR.

10) WHAT ARE TOUCH POINTS OF IRS IF I WANT TO DIRECTLY CONTAT THEM
Answer :

1) NSDL Database Management Ltd - 91-22-49142631/49142502 / helpdesk.nir@nsdl.co.in

2) Central Insurance Repository Limited - 1800-200-5533 / cirlhelpdesk@cdslindia.com
3) Karvy Insurance Repository Limited - 91 09642 546737 / eVault@karvy.com
4) CAMS Repository Services Limited - 1800-200-7737 / info@camsrepository.com

11) WHERE CAN I GET MORE INFORMATION ON IRS

Answer :

1) NSDL Database Management Ltd - https://nir.ndml.in/

2) Central Insurance Repository Limited - http://www.cirl.co.in/
3) Karvy Insurance Repository Limited - http://www.kinrep.com/
4) CAMS Repository Services Limited - https://www.camsrepository.com/

12) WHAT IS AUTHORISED REPRESENTATIVE? AND WHO CAN BE AR?

Answer : An Authorized Representative is a person who is appointed by e-Insurance account holder
to operate his/her e-Insurance account in case of unfortunate demise or incapability of e-Insurance
account holder to operate the account. The Authorized Representative will intimate the Insurance
Repository
about
the
demise/incapability
of
policyholder
with
valid
proof.
An Authorized Representative has only access rights to the e-Insurance account in the event of
demise of the policy holder. The Authorized Representative would only to act as a facilitator and is not
entitled to receive any policy benefits unless designated as a nominee or assignee by the deceased
policy holder.
Authorized Representative can be anyone on whom the e-IA applicant trusts, there is no need of
having any insurable interest between Authorized Representative & the e-IA applicant.
Minor cannot be a Authorised Representative

13) CAN I CHANGE MY AR

Answer : Yes. Authorized Representative can be changed by making a request to the Insurance
Repository.

14) WHAT DETAILS AM I TO PROVIDE ABOUT THE AR

Answer : 1) Name 2) Mobile number 3) email id 4) Address 5) Relation with e-IA 6) DOB
15) CAN NOMINEE AND AUTHORIZED REPRESENT ATIVE BE THE SAM E
PERSON?
Answer : Yes both Nominee and Authorized Representative can be the same person.

16) HOW WILL CUSTOMER RECEIVE HIS LOGIN CREDENTIALS AND WELCOME KIT
Answer : Customer will receive his login credentials and welcome kit through email from Insurance
Repository. No mail will be sent by HDFC Life to the customer

17) FROM WHICH EMAIL IDS CUSTOMER WILL RECEIVE THE LOGIN CREDENTIALS
Answer :

1) NSDL Database Management Ltd - nir@ndml.in

2) Central Insurance Repository Limited - cirladmin@cdslindia.com
3) Karvy Insurance Repository Limited - eVault@karvy.com
4) CAMS Repository Services Limited info@camsrepository.com

18) IF CUSTOMER HAS NOT RECEIVED THE EMAIL THEN WHOM SHOULD WE CONTACT
Answer : Customer can contact on the above contact points of Insurance Repository or they can also
contact HDFC Life on dematsupport@hdfclife.com

19) WHAT COMMUNICATIONS SHALL THE E-INSURANCE ACCOUNT HOLDER RECEIVE IN

A HARD COPY?
Answer : The statement of account giving the details of all policies held whenever additional
insurance is taken or a policy matures/ surrendered/ lapses would be provided to the e-insurance
account holder.
When a new policy is issued the insurer shall send an insurance information sheet containing the
basic details of insurance policy to the address stated

20) WHAT ALL DOCUMENTS WILL BE AVAILABLE IN EIA ACCOUNT POST POLICY CREDIT
Answer: Policy details in web page format, terms and condition in PDF, image of application form etc.

21) CAN CUSTOMER LINK THE POLICIES OF OTHER COMPANIES BY PROVIDING THE
REQUEST TO HDFC LIFE
Answer : Customer needs to give the request to respective Insurance company or the Insurance
repository for crediting the policies pertaining to other Insurers.

22) CAN CUSTOMER CHANGE HIS ADDRESS IN EIA

Answer : Customer can change his address in eIA by providing the request to insurance company or
to Insurance Repository. Customer also needs to submit the new address proof along with the
address change request.

23) BY UPDATING CUSTOMER DETAILS IN EIA WILL THE NEW ADDRESS UPDATED IN
THE INSURANCE POLICIES OF ALL THE COMPANIES.
Answer : Yes, when customer updates the address in e-IA account, his new address is updated to all
the insurance companies by the IR with whom he has the policies and which are available in the e-IA
account. Customer does not need to give separate request to all the insurance companies.

24) WHAT DOCUMENTS WILL CUSTOMER RECEIVE FROM HDFC LIFE

Answer : HDFC life sents a Policy Credit/Policy Information Sheet Letter to customer via normal post.

25) WHEN WILL LOOKIN START IN DEMAT

Answer: Lookin period starts from Policy credit date

26) WHAT DOCUMENTS CUSTOMER NEEDS TO SUBMIT FOR

LOOKIN/SURRENDER/CANCELLATION ETC IN DEMAT
Answer : Customer just needs to mention the e-IA account number on the request form. Customer
does not have to submit the original policy document.

27) WHAT DOCUMENTS WILL CUSTOMER RECEIVE FROM IR

Answer : IR sends a yearly Statement to customer with details of the policies which are credited in the
e-IA account. Statement will sent by IR once in a year.

28) HOW MUCH IS THE WAIT PERIOD FOR DEMAT FR COMPLETION

Answer: Customer needs to submit the FR completion regarding demat within 10 days of FR
generation, failing which demat request will be cancelled and physical policy document will be
dispatched to customer. Though, after demat FR fulfillment, demat account will be opened. In that
case, policy credit will not be done in demat account

29) CAN I PERFORM ALL THE PS TRANSACTIONS THROUGH DEMAT

Answer : Currently only premium payment option is available, but in coming months all the PS
requests can be performed by customer through e-IA account.

30) IN CASE I FORGOT PASSWORD HOW CAN I LOGIN IN DEMAT ACCOUNT

Answer : Customer can use the option of forgot password available on the IR portal for resetting the
password

31) WHAT ARE VALID KYC DOCUMENTS FOR OPENING DEMAT ACCOUNT
Answer :
Identity proof (any one):
a) PAN Card
b) UID
Address proof (any one):
a) Ration card

b) Passport
c) Aadhar letter
d) Voter ID card
e) Driving license
f) Bank Pass Book (not more than 6 months old)
g) Verified copies of:
Electricity bills (not more than 6 months old)
Residence Telephone Bills (not more than 6 months old)
Registered Lease and License agreement / Agreement for sale

h) Self-declaration by High Court and Supreme Court judges, giving the new address in respect of
their own accounts
i) Identity card/document with address, issued by:
Central/State Government and its Departments
Statutory/Regulatory Authorities
Public Sector Undertakings
Scheduled Commercial Banks
Public Financial Institutions
Colleges affiliated to universities
Professional Bodies such as ICAI, ICWAI, Bar Council etc. to their Members

32) CAN I OPEN EIA ACCOUNT WITHOUT HAVING A POLICY WITH HDFC LIFE
Answer : Yes

33) HOW MANY DAYS DOES IT TAKE TO OPEN AN E-INSURANCE ACCOUNT AFTER ALL
THE NECESSARY FORMALITIES ARE COMPLETED?
Answer : 4 Days from receipt of complete request

34) HOW WILL I COME TO KNOW THAT MY E-INSURANCE ACCOUNT HAS BEEN OPENED
& HOW WILL I RECEIVE MY USER ID & PASSWORD?
Answer : On opening the e-IA account an email & SMS will be sent by IR to the customer on real time
basis. User id & password will also be sent to customer via email by IR

35) CAN I CONVERT MY EXISTING PAPER POLICES INTO ELECTRONIC POLICIES?

Answer : Yes Customer has to provide duly filled and signed demat consent form along with the
supporting documents for creating eIA account.

36) IF I ALREADY HAVE AN E-INSURANCE ACCOUNT, HOW DO I BUY A NEW POLICY IN

ELECTRONIC FORM?
Answer :Customer just needs to mention his existing e-Insurance account number on the application
form to credit the policy in e-Insurance Account.

37) HOW CAN I COME TO KNOW THAT MY POLICY IS SUCCESSFULLY CREDITED INTO
MY E-INSURANCE ACCOUNT?
Answer : On crediting the policy in e-IA account an email & SMS will be sent by IR to the customer
on real time basis

38) WHAT IS THE PROCEDURE TO EFFECT CHANGES IN MY POLICY OR E-INSURANCE

ACCOUNT? SHOULD THE REQUEST BE MADE TO THE INSURANCE COMPANY OR IR?
Answer : Customer can approach HDFC Life for any policy level changes and can approach IR or
HDFC Life or e-IA account level changes