Health insurance online vs offline - here's what you need to know

Posted on: Feb 11, 2022 | | Written by:

Health insurance online vs offline - here's what you need to know

Published on February 18, 2022. EST READ TIME: 3 minutes

Confused about Buying Health Insurance Online or Offline? Here’s a Guide - Health insurance

Even a decade back, no one could believe that it would be possible to buy everything from food and medicine to clothes and kitchenware online one day.But that is exactly what is happening now. Thanks to smart mobile devices and high-speed internet, you can now shop for anything from the comfort of your home. In fact, it is possible to buy health insurance online now. But you might be a little sceptic about it if you have been taking the offline agent route till date. So, it’s time for you to find out everything that online health insurance purchase has to offer and why it is better than the offline route.

Significance of buying health Insurance

When you are healthy, you probably don’t feel the need of buying health insurance. But there’s no harm in staying prepared for the worst. For example, if a medical emergency crops up and you are not financially prepared to meet the medical needs, what will happen? The only option will be to spend your hard-earned savings on paying off the hospital bills. But if you have health insurance, it will shield your savings by taking care of the medical expenses. Buying health insurance is, therefore, a must to get quality treatment without worrying about rising healthcare costs. All you need to do is pay a premium amount to stay protected.

Benefits of buying health insurance online

• When you buy health insurance online, you can easily compare the plans offered by different insurance providers by visiting their websites.You can check out aggregator websites too. You can then compare the features, coverage, quotes, and exclusions and make an informed choice.

• Taking the online route is convenient and timesaving as you can buy a policy sitting at homeor from anywhere in the world, with just a few clicks. There is no need tovisitthe office of an insurance provider.

• No paperworkis involved because you don’t need to submit any physical documents. Scan the documents required, upload, make the payment and your policy will be issued within minutes.

• The insurer will offer discounts on the premium because there’s no agent fee and other operational costs for them to bear.

• You can get an idea of the insurer’s background and reliability by reading reviews of existing customers posted on their website.

• The online process is more transparent as you can access all information about the insurance company such as the claim settlement ratio.

Benefits of buying health insurance offline

• This is ideal if you are not tech-savvy. You might be more comfortable taking the help of agents when it comes to understanding the details to be filled or insurance-related terms. The agent can also help in filling up the form.

• Since agents have the expertise and are well-versed in the nitty gritty of the plans, they can help you find the right plan with the right sum insured based on your health needs.

• In case of any queries, you don’t need to raise a ticket/request for the customer support services or wait for the executives to respond. You can directly talk to the agent to resolve your queries related to upgrading the plan, payment of premiums, claim settlement, nominee change, etc.

• There is no risk of cyber fraud as you will be paying directly to the insurance agent.

Difference between online & offline health insurance

• Comparing health plans:

Before purchasing health insurance, it is good to compare the plans across insurance companies and select the one that best suits your needs. If you buy health insurance online, you can compare the plans by visiting the websites of insurers or aggregator websites. But if you buy offline, comparing policies becomes a challenge as you have limited access to information.

• Cost/Premium amount:

The premium is less when you buy online because you are buying it directly from the insurance provider,thereby saving the cost of agent fees. So, the insurer will offer a lower premium by giving discounts. But in offline purchase, you need to pay a commission to the agent.

• Paperwork:

Zero paperwork is involved in the online mode. When you buy offline, you need to submit the required documents to the agent or insurance provider’s office.

• Transparency:

If you buy offline or through an agent, you need to trust the agent for all information about the policy. The online process is more transparent as you can get all information about the policy and the insurance provider from the internet.

• Time:

In case of health insurance online purchase, with just a few clicks, your policy will be issued/renewed instantly, and the document will be sent to your registered email ID. In offline purchase, it will take atleast a couple of weeks to issue/renew the policy.

• Convenient:

The online method is way more convenient as there is no need to visit the insurer’s office. It can be bought from anywhere and at any time. Whereas in offline purchase, you need to visit the nearest branch of the insurer as per their office timings or make an appointment with the agent.

Should you purchase a health insurance policy online or offline?

Purchasing health insurance online is undoubtedly the better option. It is convenient, timesaving and transparent, involves no paperwork, ensures a lower premium, and makes it easy to compare policies.This way, you get the best deal too. Plus, you don’t need to wait for several days to get the policy, like in the offline method. Once you decide which plan to buy, just visit the insurer’s website, fill in the required details, make the payment, and your policy will be issued instantly.

Conclusion

Whether you take the online route or offline, buying health insurance is non-negotiable. Also, digitalization has made our lives easy in many ways,which is why buying health insurance online is recommended. It comes with a plethora of benefits. However, if you are still confused about choosing between the online and offline method, the abovementioned points should help you take a decision. Disclaimer: The above information is for illustrative purpose only. For more details, please refer to policy wordings and prospectus before concluding the sales.

Disclaimer: The above information is for illustrative purpose only. For more details, please refer to policy wordings and prospectus before concluding the sales.

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