Is Bima Sugam an insurance company?

No. It is a digital marketplace and infrastructure backed by IRDAI to help you buy, manage, and link all your insurance policies.

Can I link my 10-year-old LIC policy to Bima Sugam?

Yes. Once the life insurance phase goes live, you can link old policies using your policy number and Bima Pehchaan ID.

Will I get a discount if I buy through Bima Sugam?

Yes. The zero-commission model allows insurers to offer lower premiums compared to traditional channels where high agent commissions are included.

Is it mandatory to move my policies to Bima Sugam?

It is not mandatory yet, but it is highly recommended for easy management, faster claims, and keeping all records in one digital vault.

What happens to my current agent if I link my policy?

Your policy stays the same. Linking just gives you a digital view. However, buying new policies on the portal might bypass traditional agent commissions.

Do I need to pay a fee to register on Bima Sugam?

Registration for policyholders is expected to be free. The platform aims to be a public utility to increase insurance penetration in India.

Porting to Bima Sugam: How to Link and Manage Your Insurance Policies

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Porting to Bima Sugam: Can You Move Your Old Policy to the New Platform?

Managing multiple insurance policies is about to get as simple as using UPI. Discover how Bima Sugam will link your life and health plans in one digital vault.

3 min read

OneAssure Team

March 19, 2026

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Looking for the right plan? You don't have to guess. Let us compare the fine print for you and give you an unbiased recommendation.

Need advice tailored to you?

Looking for the right plan? You don't have to guess. Let us compare the fine print for you and give you an unbiased recommendation.

The UPI Moment for Your Insurance

You probably have a health insurance PDF buried in your Gmail. A life insurance bond is likely gathering dust in a wooden cupboard. Your car insurance? That is probably a folded paper in the glove box. It is a mess. Tracking renewals and nominee details across three different apps is exhausting. Bima Sugam is designed to end this chaos. Think of it as the UPI for insurance. Just like one app handles all your bank accounts, this platform will handle every policy you own.

Linking vs Porting: What Is the Difference?

Many people use these terms interchangeably. They are not the same. Linking means bringing your existing policy onto the Bima Sugam dashboard. You keep your current insurer but view the details digitally using your Bima Pehchaan ID. Porting means moving your entire cover from Company A to Company B. Bima Sugam makes porting faster because Company B can instantly verify your history on the digital rail. No more waiting weeks for physical documents to move between offices.

How to Get Your Bima Pehchaan ID

The Bima Pehchaan ID is your unique digital identity. It links to your Aadhaar and PAN. Once you register, the platform fetches every policy linked to your mobile number. It does not matter if you bought them five years ago. If the records exist with the insurer, they will appear on your dashboard. This digitizes those old physical papers into an electronic account automatically. For very old policies, you might need to manually enter the policy number once. After that, it stays digital forever.

The Phased Launch Schedule

The platform is rolling out in stages to ensure the tech holds up. According to recent updates from IRDAI, motor insurance is expected to lead the way around July 2026. Health insurance follows in August, and life insurance products should go live by September. This phased approach helps insurers sync their systems without glitches. You can start by linking your motor policy first and then add your complex health or term plans as they become available.

Why This Makes Insurance Cheaper

Buying through the Bima Sugam marketplace could save you a significant amount. Why? Because it operates on a zero-commission model. When you buy directly on this portal, insurers do not have to pay high distributor fees. These savings are passed to you as lower premiums. Additionally, the government recently removed GST on individual term and health insurance. Starting September 2025, the 18% tax burden is gone. Combine zero commission with 0% GST, and a ₹20,000 health plan could suddenly feel much lighter on your pocket.

Faster Claims and Nominee Updates

Updating a nominee is usually a nightmare. You often have to mail physical forms or visit a branch. On Bima Sugam, you can update your nominee details for all policies from one dashboard. This is a lifesaver for your family. During a claim, the platform connects the hospital, the insurer, and you on a single digital rail. It reduces the back-and-forth emails. For a young earner, this means less time arguing with customer care and more time focusing on recovery. Platforms like OneAssure already simplify the research process, and Bima Sugam will now provide the official government infrastructure to back that ease.

The Registration Checklist

Ready to jump in? You do not need a mountain of paperwork. Keep these ready:

Aadhaar Card: Ensure your mobile number is updated for OTP verification.
PAN Card: Used for financial verification and tax benefits.
Policy Numbers: Keep your current policy documents handy for the initial linking.
Bank Details: For automated premium payments and claim credits.

Bima Sugam is not just another portal. It is a shift in power. It puts you in control of your data. No more chasing agents. No more lost bonds. Just simple, transparent protection.