HomeDemat accountDid you know IRDAI has made it mandatory to have an insurance policy in dematerialized – open a Demat account with us for 999*
Did you know IRDAI has made it mandatory to have an insurance policy in dematerialized – open a Demat account with us for 999*
October 27, 2022
Have you heard about the latest proposal made by IRDAI- the insurance regulator of India? If your answer is NO, then this is the right time to know about this piece of good news!
By the end of this year, you will be able to get rid of all the struggles related to buying and keeping an insurance policy in physical form.
Each and every new insurance policy coming after December 2022 will be provided in digital form and holding it in your Demat Account will become possible. Besides, your old insurance policies will also be changed into digital/Demat form.
According to the Insurance Regulatory and Development Authority of India (IRDAI), the decision made will be applied to each one of the policies available.
What will be the benefit of this change?
Policyholders will be able to check policy details whenever they want
No need to store and take care of policy papers for years
No documents will be required when renewing the policy
Paperless transactions will save paper, time as well as the environment
But Demat account kya hai? Why do we need to have this account?
A Demat Account is one in which investors hold their assets in digital form. In order to invest or do trading (in stocks, bonds, mutual funds, and now in insurance policies), you must have a Demat Account.
This account greatly facilitates the management of shares. You don’t have to mess around with papers that never seem to get resolved!
Investors who use Demat accounts for stock trading have many advantages. One of the main benefits is that it is a simpler and safer way to hold securities than old methods which relied on physical certificates. Documents can get damaged, stolen, or lost. Criminals can forge certificates in an attempt to deceive investors.
Using Demat Account, investors can take advantage of quick and automatic updates. It helps eliminate unnecessary paperwork and helps reduce errors caused by human error.
Are you interested in opening a Demat Account?
There are numerous benefits of making the act of investing a daily habit. The main one is the financial security that the maintenance of investments and frequent contributions can bring to the investor.
In addition, through financial investments, it is possible to achieve the most diverse financial goals, plan for retirement and accumulate wealth, in order to achieve a more comfortable future for you and your family. Investing is a healthy habit that should be present in the daily lives of all families.
As mentioned earlier, for investing online, the first thing to do is to open a Demat account online. And opening this account has become as easy as pie, thanks to RKFS. For those who don’t know how to do this and are still confused, we suggest you visit rkfs.org today and open a Demat account in india only at Rs. 999.