Every person’s financial strategy needs to include health insurance. During a medical emergency, it serves as a financial safety net. People now prefer to purchase health insurance online as a result of technological improvement and digitalisation. While purchasing health insurance has many benefits, it also has drawbacks. Let us understand this a little better.
Benefits of Online Health Insurance Shopping:
- Transparency – These days, everything is available online, so one should not be concerned about being duped by a salesperson. All necessary information, including policy quotations, benefits, inclusions, exclusions, terms and conditions, etc., is accessible. Online health insurance purchases are highly transparent.
- Time-saving: purchasing is convenient and may be done from the convenience of one’s home. This method saves a tonne of time and doesn’t involve any paperwork. Online insurance purchases are not required of insurance brokers, and the process is simple.
- Comparison is simple – Comparing policies online is simpler than visiting several insurance providers. On their official websites, modern insurance providers offer thorough information about the goods they offer, and there are numerous websites that help compare health insurance plans.
- Concessions – Several insurance providers provide savings when purchasing health insurance online. At a reasonable cost, one can obtain adequate protection. ##
- Customer support – When purchasing insurance online, one may anticipate first-rate support. Whenever a need occurs, a person can use chat with customer service or 24/7 support to get their questions answered round-the-clock.
Here are a few cons:
- Cons of online scams when purchasing health insurance – Online scammers must be avoided at all costs because buying insurance online includes providing personal and financial information. It is crucial to ensure that you only purchase health insurance through the official website because it can be difficult to trust things online.
- Customer care – To get any questions answered when purchasing online health insurance, one needs to rely on customer service. Some insurance providers might not have a responsive and effective customer support team.
- Excessive information – When seeking information online, it’s possible to get lost in a vortex. It can be incredibly complicated because there are so many insurance providers, plans, price points, and concessions to pick from. The same policy may be offered in a range of price points, and the same price point may offer a number of coverage options. This can make picking the best policy challenging.
- Negotiation room – Health insurance is crucial for preventing financial ruin during a medical emergency, but some people complain that the premiums can be prohibitively high. Since one must choose from the costs offered and there is no way to discuss them, there is no room for negotiation when purchasing health insurance online.
A health insurance premium calculator is a simple and easy-to-use tool that you may use online to determine the amount of coverage required based on your needs.
It is usually preferable to obtain advice from the insurance provider when purchasing health insurance, although purchasing insurance online can save money and time. ##
## All savings are provided by the insurer as per the IRDAI-approved insurance plan. Standard T&C apply.
Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.