Are you wondering if it is cheaper when Buying Health Insurance Online vs Agent? Here’s what you need to know. There are various options you have at the time of purchase of a health insurance plan… directly from the insurer via their webpage, offline through the insurer’s agent.
Buying Health Insurance Online vs Agent | Which one is cheaper? Buying Health Insurance online has now become a very simple process. You do not have to go through the hassle of going through an agent, who would have tie-ups with a few insurance companies and may not be able to offer the product that you want. The agent may try pushing a product he is affiliated with. Also, there is complete transparency in the process when you buy online – everything is there in front of you and then you can make a decision.
Buying Health Insurance Online vs Agent | Which one is cheaper? Well Online plans are suitable only if you are completely aware of the finer details of the policies and can make the decision on your own. Not only you, but also your family should know the complete details of the plan bought online because in the event of hospitalization, the onus of handling the claim process lies with the family members. If you choose to avoid such hassles, you can compare online and buy offline through an agent who is trustworthy, even though the premium would be a bit on the higher side.
It is not cheaper to get health insurance through an agent instead compare different health insurance plans to see which one is right for you
Buying Health Insurance Online vs Agent | Which mode is best suited for you? Lets compare
Buying of Health insurance can be done from an insurance agent (offline) or online. Although the latter form is becoming increasingly becoming popular, many people are still skeptical about how reliable and safe it really is. If you are one among such people, these comparisons between Buying Health Insurance Online vs Agent will help you decide which mode is best suited for you:
Benefits of Buying Health Insurance Online
1: Ability to Draw Comparisons
If you buy health insurance online, you can easily compare between the best of all policies. You cannot get this benefit when buying insurance from agents, they will insist you buy your policy from their company.
2: Reaching Out to a Brand
When you buy health insurance online, you are reaching out to a brand, a fully functional company who will be accessible to you 24/7. Agents on the other hand could be unreachable or may go back on their promises, whereas companies functioning online cannot afford to do so.
3: No Fraud
While purchasing health insurance online, you can log on to the company’s website and directly go through the policy’s terms and conditions in full detail. You could even take screenshots or keep printouts. This significantly reduces the possibility of frauds. On the contrary, when purchasing insurance from an agent, it is quite likely that the agent manipulates the terms and conditions to try and influence your decision in his/her company’s favour. Several customers complain to insurance companies about their disappointment stemming from unusually high expectations that their agents’ manipulated terms and conditions create.
4: Flexibility, No Room for Errors
The online insurance purchase mode offers higher flexibility and a wider range of options to help you choose your life insurance plan. However, since an agent is not there to guide you, you need to do your own research while buying a policy online. This could be a blessing in disguise as in the offline mode, you may blindly trust the agent and leave it to him to the fill the form on your behalf. There have been instances when agents have misplaced customers’ information while filling forms or made mistakes in the forms, either intentionally or erroneously. Such mistakes could turn out to be very costly during claim settlement.
Benefits of Buying Health Insurance from an Agent ( Offline )
Insurance provides peace of mind in case unforeseen circumstances cause you physical or financial damages. By purchasing coverage through an insurance agency, you gain access to knowledgeable professionals available for personal appointments and individual assessment of your business insurance needs.
1: Sum Assured
The higher sum assured in online insurance policies can sometimes be an eyewash and just a marketing tactic of insurance companies. It is very common nowadays to see a company claiming that you can get an INR 1 crore health insurance plan for just INR 500 a month. Usually, customers are tempted to purchase such a high cover even if they do not really require it. This is where an offline insurance policy purchase could be a more reasonable choice.
Though insurance agencies give personal, one-on-one attention to clients, it is possible that you could pay more for coverage than you initially intend to pay. Insurance agencies often pay agents commissions contingent on the amount of coverage they sell you. In other words, depending on your insurance agent’s pay structure, a commission-based sale could incline your agent to suggest more coverage to you than you need.
What to choose?
If you are still confused about which way to go when it comes to purchasing an insurance plan, you need to consider the key factors stated above. You would obviously need to go with the process which is securer, more convenient, more beneficial, well within your budget, and quicker – buying insurance online ticks all the boxes.
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