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Significance of Buying a Health Insurance Policy

2020 taught the most important lesson: health emergencies come unannounced, and they can stay for as long as they please. With the modern lifestyle, stress, and now the pandemic, the reasons for contracting diseases are increasing by the day. And it’s no news that with growing health concerns, the cost of medical services too is on the rise. However, you have nothing to fret about if you have a good health insurance plan. It acts as a robust wall that keeps financial worries at bay.

 

Yet, nearly 30% of the Indian population is uninsured. It is believed that many people avoid buying health insurance due to lack of time. Hence, they are also called the ‘unaware group of population’. Most reputed insurance companies have now taken their services online, meaning you can buy/renew health insurance anytime, anywhere. Now you might ask, ‘How is buying health insurance online different from purchasing it offline?’ Well, you’re in luck. That’s what this article is all about! Continue reading to know the benefits of buying health insurance online vs offline.

Online Vs Offline Health Insurance

Check out the below table to know how buying health insurance online vs offline can prove beneficial:

Particulars

Buying Health Insurance Online

Buying Health Insurance Offline

Cost

Buying health insurance plans online is more cost effective.

Purchasing a health insurance policy from the insurer’s office can be more expensive.

Paperwork

Buying health insurance online demands less paperwork.

The offline process of buying health insurance requires a lot of paperwork.

Transparency

Anyone who has access to the internet can verify important details about an insurance company/policy like claim settlement ratio. Hence, the online process is more transparent.

When you buy a healthcare plan offline, you have to blindly trust the agent to retrieve accurate details about the policy or the insurance provider.

Flexibility

Greater flexibility

Limited flexibility

Comparing Health Insurance Plans

The online process enables you to compare various health plans online.

The offline process offers limited access to information. So, comparing two or more policies can be tough.

Customer Feedback

You can read customer feedback about various policies and insurance companies before buying a policy online. It helps you make an informed decision.

Here, you do not have access to customer review/feedback. Hence, you are compelled to rely on your agent for such essential details.

Convenience

It allows you to buy health insurance at any time and from anywhere.

To buy/renew health insurance offline, you either have to visit the nearest branch of the insurer or take an appointment with the agent.

Time Taken

Your health insurance policy gets issued within a few minutes.

Your health insurance policy gets issued within a few weeks.

While purchasing health insurance offline could seem convenient (you can simply rely on a third person to pick a health insurance plan), it isn’t benefiting you even a bit. Agents generally recommend those insurance companies that offer better commission. So, if an insurance company that scores extremely low w.r.t. claim settlement and coverage offers a good commission, the agent might yet promote that insurer.

 

However, the online process allows you to take charge and understand various insurance providers. It enables you to check out their website, read reviews, compare different quotes, and pick the one that suits your needs. And the fact that you can buy and renew health insurance from the comfort of your home is just the kind of icing on the cake we need amid our busy schedules. That’s not all. The online process also enables you to get an estimate of the health insurance premium quote using a health insurance premium calculator. It aids in choosing the best-suited plan after comparing various similar plans.

 

So, you decide, why should you buy health insurance online rather than offline?

To Wrap it Up!

Now that you know the benefits of buying health insurance online, do not delay it any further. Visit our ‘health insurance’ page and check out the range of plans available on Bajaj MARKETS. We enable you to compare different quotes and buy the best policy instantly. 

Best Health Insurance Plans Available at Finserv MARKETS

FAQs on Online Vs Offline Health Insurance

  • ✔️Which is better–buying health insurance online or offline?

    Buying health insurance online offers better flexibility, convenience, cost-effective plans, and transparency. Hence, it is better to buy health insurance online than offline.

  • ✔️Can you get important details regarding an insurance company online?

    As a policy buyer, you can get customer reviews and accurate company details about different insurance companies online.

  • ✔️Are offline health insurance plans cheaper?

    No. Buying health insurance plans online can be a more cost-effective approach.

  • ✔️Can I buy health insurance from home?

    Yes. You can buy health insurance from the comfort of your homes through Bajaj MARKETS.

  • ✔️I had purchased my healthcare plan through an agent last year. Can I renew my health insurance online?

    Yes. You can renew your health insurance plan online even though you first purchased it through an agent.