Bima Sugam Portal 2024: Check Features, Benefits and Important Factors

If you are a permanent resident of India then you will be able to apply for the Bima Sugam Portal which is created by the Indian government to provide properties related to the insurance policyholders in India so that they can check out the details related to their policies without having to visit the insurance companies now and then. You can check out the details related to the features benefits and also the important factors related to Bima Sugam Portal 2024 created by the Indian government from the article provided below. We will also share with you all the details related to the implementation procedure and the benefits that will be provided to the people who are applying for this scheme.

Bima Sugam Portal
Bima Sugam Portal

About Bima Sugam Portal 2024

The Bima Sugam Portal will act as a particular platform through which the multiple services related to the Insurance sector can be achieved by the beneficiaries without having to worry about being physically present at 1 particular place. Through the development of this portal, the beneficiaries will be able to take into account the sale of their policy, renewal of their policy, and also the settlement of their claims without going to their respective bank or their Insurance company. This is a one-stop platform which is a very prestigious platform built to provide a hassle-free experience to customers present all across the country. The Insurance Regulatory and Development Authority of India is working to promote this official platform and help it to be accessible all across the country.

Also Read: LIC Pension Plus Plan 

Important Dates

  • The portal has scheduled to go live on the first of January 2023.

Objective Of Bima Sugam Portal

The main objective of the scheme is to promote UPI payment system integration in the procedure of the buying or selling of policies online. There is a very easy way through which you will be able to go to the official platform presented by the insurance authorities of India and then you will be able to buy the policy of your choice so that you can get your life insured without having to visit the insurance company or your nearest bank. You can easily buy or sell your insurance policies by visiting the official platform through the method of UPI because UPI is a very famous payment method that has been very popular in India recently. The main objective of this scheme is to make transactions related to insurance policy buying and selling in India.

Benefits Of Bima Sugam Portal

The following benefits will be provided to the people who will apply for this prestigious platform:-

  • The Bima Sugam will leverage the prospect of having a centralized database. It will assist the insured/buyers facing challenges with existing insurers/agents to port their respective policies based on coverage and pricing. Further, it will pave the way for speedy acceptance of new/sandbox products.
  • The platform will also give buyers a wide choice to pick and choose policies. It will offer a window to view all your policies (be it life or general), details and renewal dates.
  • The platform will also help decrease the commissions which pays to the intermediate and you will be able to directly buy the policies from the official platform.
  • The people will be able to buy insurance policies through the method of the UPI payment system and there will be ease in buying and selling the securities.
Implementation Of Bima Sugam Portal

The platform will push for end-to-end digitization of the insurance-selling ecosystem. The selected repositories can help maintain the insurance policies of the policyholder and his family. Policyholders will have their E-Bima or E-insurance accounts wherein they can view their policies and file a claim. The information related to all the details of your insurance policy will be available in one particular space and you will be able to check out the details related to the beneficiaries and also the nominees of your insurance policy by visiting the official platform. You will be able to also share your contact details with the concerned authorities. You will also be easily able to buy the policies online. 

Also Check: PM Suraksha Bima Yojana

Bima Sugam Portal 2024 Application Process

The official platform will be available for the residents of India from 1st January 2023 so you will be able to access the platform and fill out the registration form to buy an insurance policy as soon as it is released for the common public.

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