From Clicks to Coverage: The Benefits of Online Health Insurance Shopping

Mar 09, 2024 / Reading Time: Approx. 7 mins

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From Clicks to Coverage: The Benefits of Online Health Insurance Shopping

In recent years, digitisation has reshaped industries far and wide, with insurance emerging as a prime candidate for transformation. The integration of digital services into the insurance industry has surged, revolutionising how policies are purchased and managed. This shift not only benefits insurance providers by extending their reach and streamlining operations but also empowers consumers with unprecedented convenience and accessibility.

Gone are the days of lengthy paperwork and cumbersome processes; today, the power to secure vital health insurance coverage lies at the fingertips of every individual. With just a few clicks, individuals can navigate a vast array of health insurance options, compare policies, and select the one best suited to their needs. This digital evolution has numerous benefits, promising a seamless and efficient experience for insurers and policyholders.

This article enumerates the benefits of online health insurance shopping, exploring how this technological revolution is reshaping the insurance landscape and empowering consumers to safeguard their well-being with unparalleled ease and efficiency.

[Also Read: A Comprehensive Guide to Buy a Health Insurance Policy in India]

Benefits of Online Health Insurance Shopping:

1. Wide Array of Options:

In India, many health insurance companies provide a lot of different plans. But if you try to look at all of them without using the internet, it can be really daunting. Especially if you're talking to an agent, they might only tell you about the plans from the companies they work with.

However, you can easily see and compare hundreds of plans online in just a few minutes. This way, you can find the perfect health insurance plan for you and your family without any hassle. It's like having all the options right at your fingertips, making it much simpler to pick the one that matches your unique needs and preferences.

2. Effortless Comparison:

Online platforms streamline the daunting task of comparing insurance plans by offering intuitive tools for side-by-side analysis. You can visit financial websites that lay out all the details about different plans, like what they cover, how much they cost, and even what other people think about them. This makes it way simpler to figure out which plan best fits you and make an informed decision.

However, sometimes, the information on these websites might not be up to date. Hence, it's a good idea to double-check everything on the official website of the insurance company. You can look over all the details there, and if you have any questions, you can ask the customer support team for help. This way, you can be sure you are making the right choice and getting all the information you need to feel confident about your decision.

3. Affordability:

When you buy health insurance in person, there are lots of extra expenses involved. You have to go through middlemen or agents, and they all get paid commissions. Plus, there is rent for their offices, electricity bills, phone bills, and more. All these costs add up, making the insurance price go way up.

But when you buy health insurance online, you bypass all these extra fees. You don't need middlemen or agents because you can do everything yourself on the internet. So, the insurance companies don't have to pay all those extra costs and can afford to offer attractive premiums to the wider demographic. This is why buying health insurance online is usually much more affordable compared to buying it in person. It's like cutting out the middleman and getting a better deal straight from the source.

[Also Read: Stability and Savings: Understanding Multi-year Health Insurance]

4. Unparalleled Convenience:

Buying a health insurance policy in person can take up a lot of your time. You have to find the right time to visit the insurance office or meet with an agent, which might not always match your busy schedule. It's like trying to find a time that works for both you and them.

But online health insurance lets you do everything without leaving your home, irrespective of time constraints. Whether it's a holiday or late at night, you can buy your policy whenever you want, 24 hours a day, 7 days a week. You don't have to worry about waiting for the right time or rushing to make it before the office closes as online platforms operate round the clock. Online health insurance gives you the freedom to shop for and buy a policy whenever it's most convenient for you, making the whole process much easier and stress-free.

5. Transparency and Clarity:

Online platforms prioritise transparency, as everything you need to know is right there on the website. You can see all the details about what the policy covers (inclusions), what it doesn't cover (exclusions and exemptions), and any special conditions. It's like having all the information at your fingertips whenever you want it. This transparency means there are no surprises - you know exactly what you're getting into before you buy. This fosters trust and confidence among policyholders.

However, things might not be so clear when you buy from an agent or broker. They might not tell you everything about the policy or hide important details to benefit themselves. They could even misuse your personal information. That's why buying health insurance online can be safer and more reliable - you can trust that you're getting all the information you need to make the right decision for you and your family.

6. Time-efficiency:

The streamlined process of online insurance purchases significantly reduces the time investment required for policy selection and application. Unlike the protracted timelines associated with offline transactions,

Choosing the perfect health insurance plan is much faster online. You don't have to spend ages filling out forms and waiting in lines. With just a few clicks, you can compare different plans and pick the one that suits you best. Plus, applying online is super quick. You just fill out a form on the website, and that's it! The process is way simpler compared to doing it in person.

There's a lot of waiting involved when you buy insurance offline. Your form has to be checked by people at the insurance office and then sent to different departments for approval. It can take days for everything to be sorted out. However, online policies are swiftly processed and delivered, sparing individuals from prolonged waiting periods and administrative delays.

[Also Read: 12 Tips to Buy the Right Health Insurance Plan]

7. Prompt Assistance:

If you're not good with computers and are unsure about buying your health insurance policy online, don't worry! You can always reach out to the customer support team for help. Most insurance companies now offer a 'live chat' option where you can ask questions and get quick answers. So, if you have a small question or need some guidance, you can use this feature.

And here's another cool thing about buying insurance online - you don't have to wait for your agent to sort out any issues after you've bought your policy. Instead, you can contact customer support directly, and they'll help you out right away. It's like having someone there to assist you whenever you need it, making the whole process much easier and less stressful.

8. Enhanced Security:

Online transactions offer heightened security measures, safeguarding personal information from unauthorised access or misuse. Unlike offline transactions that may involve third-party intermediaries, online platforms provide direct communication channels with insurers, minimising privacy concerns and enhancing data security.

9. Instant Coverage:

Buying health insurance online means you get coverage right away for you and your family unless a medical check-up is needed. But just like offline insurance, there's usually a waiting time before you can claim certain benefits. It's like a little waiting period before you can use some of the features of your insurance plan.

So, while online health insurance gives you quick coverage, you might still need to wait a bit before you can make certain types of claims, just like with other types of insurance.

[Download Our Free Guide: All You Need to Know About Top-up Health Insurance Plans]

10. Automated Management:

When you buy health insurance from an agent, remembering when to renew it can be a hassle. You might have to keep track of the renewal date yourself, or the agent might call you, which takes up your time.

With online health insurance, renewals are easy. They're automatic, and the premium gets deducted your bank account on the renewal date. Moreover, online insurance comes with lots of handy features. You can get instant quotes for premiums, download policy information, and even file and track claims, all through the website or mobile app. It's like having everything you need right at your fingertips, facilitating hassle-free insurance management.

To conclude:

Buying health insurance online offers many benefits compared to buying it in person. In today's world, where our lifestyles can sometimes lead to health issues, having insurance for our whole family is really important. However, finding time to buy or renew insurance can be tough with our busy lifestyle. That's where online health insurance comes in handy.

It's a great way to get the coverage you need at a good price, and it's super convenient. You can choose from different types of insurance, like plans for individuals, families, or seniors, all with just a few clicks. Plus, you can compare different plans to find the one that best fits your needs. So, whether you're looking to protect yourself, your family, or your parents, buying health insurance online is a smart and easy choice.

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KETKI JADHAV is a Content Writer at PersonalFN since August 2021. She is an MBA (Finance) and has over seven years of experience in Retail Banking. Ketki specialises in covering articles around banking, insurance, personal finance, and mutual funds and has been doing it for over three years now.


Disclaimer: Investment in securities market are subject to market risks, read all the related documents carefully before investing.
This article is for information purposes only and is not meant to influence your investment decisions. It should not be treated as a mutual fund recommendation or advice to make an investment decision in the above-mentioned schemes.

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