Top 10 Reasons to Buy Health Insurance Online

Health insurance has become a necessity today to get financial coverage against the skyrocketing prices of medical treatments in India. While buying it online was a hassle earlier, today you can easily buy a mediclaim policy online that provides comprehensive coverage within your budget from the comforts of your home. Read on to know the reasons to buy health insurance online in India.

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      10 Benefits of Buying Health Insurance Online

      Take a look at the top 10 benefits of buying health insurance online:

      1. Plenty of Plan Choices

        You can find a wide range of health insurance plans online. These plans may differ in terms of benefits, coverage, premiums, etc. You can easily check out plans from different insurers online and pick a plan that best suits your health needs & pocket. In fact, all insurance companies in India allow you to purchase medical insurance online.

      2. Easy to Compare

        Purchasing a mediclaim policy online allows you to compare plans from different insurers online to select the most suitable plan. Comparing health plans online is an effortless task as you can compare them all in one place at websites like Policybazaar.com based on their coverage, benefits and premiums. This is not possible offline, as comparing multiple plans from different insurers can be a hassle.

      3. More Convenient

        Buying health insurance online is more convenient than buying it offline. You can research, compare, select and buy a policy at any time of the day or in the middle of the night. Besides, you are not required to step out of your house to stand in a queue or take an appointment to meet with an insurance agent. This is not possible when buying offline, and thus, online purchase of medical insurance is more convenient.

      4. No Involvement of Agents or Middlemen

        When you buy medical insurance online, no agents or middlemen are involved. You can buy the policy directly from the insurance company during an online purchase. As a result, there is better transparency as you are not influenced by the agent of a specific company and are able to buy the best policy for yourself.

      5. More Affordable

        Buying health insurance online is more affordable than buying it offline. This is because the operational costs of the insurance company are reduced when you buy a policy online. In the absence of agents or middlemen, the insurer saves on their commission. They also save on postal charges and office expenses by operating online. As a result, you are charged a lower premium when buying a mediclaim policy online.

      6. Saves Time

        The process of buying a mediclaim policy online is much faster than buying it offline. Unlike offline buying, you do not need to stand in long queues or wait for days to receive your policy documents. Instead, you can buy a policy online within a few minutes and receive your policy documents on the same day. This helps you save a lot of time.

      7. Minimal Paperwork

        Online buying of medical insurance involves minimal paperwork compared to buying it offline. You do not have to fill out several forms or submit multiple documents to get yourself a health cover. In fact, some health insurance companies issue a policy with zero paperwork. This is not possible offline as you need to fill out several forms before your application can be submitted to the insurer.

      8. More Safety

        Buying a health insurance policy online is absolutely safe. You just need to visit an IRDAI-approved website and pay the premium online for your selected plan. The Insurance Regulatory & Development Authority of India has registered genuine websites with safe payment gateways. You can find the IRDAI registration number at the bottom of the website. Just use a debit card, credit card, net banking or UPI to pay your premium online safely on these websites.

      9. Instant Policy Issuance

        When you buy medical insurance online, your policy is issued almost instantly. You just have to enter a few details about the people to be insured, like name, age, medical history, etc., in the proposal form. By paying the premium online, the process becomes quicker and the policy is issued within a few minutes.

      10. Make an Informed Decision

        One of the biggest benefits of buying health insurance online is that you can know the reputation of an insurance company before buying. You can check the claim settlement ratio of an insurer to know how likely your claims are to get settled. You can also know the incurred claim ratio of a company to know its financial health. Moreover, you can check the reviews of existing customers to know about the post-sales service of a company.

        Thus, you make an informed decision when you buy a mediclaim policy online.

      FAQs

      • Q1. Can we purchase health insurance online?

        Ans: Yes. You can purchase health insurance online on the official website of the insurance company or on broker websites like Policybazaar.com.
      • Q2. Should we buy health insurance online?

        Ans: Yes. You must buy health insurance online as it is more affordable, convenient, time-saving, safer, and involves minimal paperwork & no agent or middleman. Besides, you get more plan options that can be easily compared to make the best buy. Moreover, the policy is issued almost instantly.
      • Q3. Is it safe to pay health insurance online?

        Ans: Yes. It is absolutely safe to buy health insurance online as long as you purchase it from an IRDAI-registered website.
      • Q4. Is it better to buy health insurance online or through an agent?

        Ans: It is always better to buy health insurance online and not through an agent, as it provides more transparency, saves time and is more convenient. Moreover, you are not influenced by the agent of an insurance company and can compare plans from different insurers to choose the most suitable policy.
      • Q5. Should I buy health insurance online or offline?

        Ans: It is always better to buy health insurance online as it is more convenient, cost-effective, time-saving and safer. You do not have to deal with any agent or middleman, or fill out multiple forms. Besides, you can compare health plans from different insurers online in one place to find the most suitable policy.
      • Q6. How to pay health insurance online?

        Ans: You can pay your health insurance premium online using your debit card, credit card, UPI or internet banking.
      • Q7. Is it better to buy health insurance through a broker in India?

        Ans: No. Buying health insurance online is better than buying it offline from a broker.
      • Q8. Can I claim my health insurance online?

        Ans: Yes. You can claim your health insurance policy online on the official website of the insurer. If you have purchased your policy from Policybazaar.com, you can file a claim on their official website, too.
      • Q9. Is it safe to use online health insurance?

        Ans: Yes. It is safe to use your health insurance online.
      • Q10. What are the disadvantages of online health insurance?

        Ans: There are more advantages of buying health insurance online than disadvantages. The only disadvantage of buying a mediclaim policy online is that you cannot sit face-to-face with a representative of the insurance company during the process, but make do with online consultations.
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      Disclaimer: The list mentioned is according to the alphabetical order of the insurance companies. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. For complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website www.irdai.gov.in

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      *We will respond in the first instance within 30 minutes of the customers contacting us. 30-minute claim support service is for the purpose of giving reasonable assistance to the policyholder in pursuance of the claim. Settlement of claim (including cashless claim) is the responsibility of the insurer as per policy terms and conditions. The 30- minute claim support is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. For further details, 24x7 Claims Support Helpline can be reached out at 1800-258-5881.

      *Product information is authentic and solely based on the information received from the Insurer. Policybazaar is acting only as a facilitator and claims settlement shall be at the sole discretion of the Insurer. Policybazaar does not provide any medical or surgical advice or diagnosis and is not responsible for your interactions / treatment by a medical practitioner/hospital. Please consult a registered medical practitioner for any medical or surgical advice. The Information that you obtain or receive from Policybazaar, and its employees, or otherwise on the Website is for informational purposes only. As per the Insurance guidelines, you are allowed to cancel the policy with-in 30 days from the date of Issuance of policy.This option is available incase of policies with a term of one year or more.

      *All the health insurance plans cover hospitalization expenses including COVID-19 treatment cover up to the specified limits. You can also buy specific COVID-19 health insurance policies such as Corona Kavach Policy and Corona Rakshak policy.

      **All savings and online discounts are provided by insurers as per IRDAI approved insurance plans. #Tax Benefits are subject to changes in tax laws. GST Exemptions depend on fulfilment of qualification criteria and submission of relevant documents.

      *₹1748/month is the starting price for a 1 crore health insurance for an 18-year-old male, with no pre-existing diseases. Discount on renewal premium is subject to the number of wellness points earned in the health insurance policy. For more details about the plans, please read the sale brochure carefully to get upto 100% discount on renewal premium.

      *₹400/month is the starting price for ₹ 5 lakh Health insurance for a 30 year old male & 29 years old female, living in Delhi with no pre-existing diseases

      *₹541/month is the starting price for ₹ 10 lakh Health insurance for a 30 year old male & 29 years old female, living in Delhi with no pre-existing diseases

      *₹762/month is the starting price for ₹ 1 Crore Health insurance for a 30 year old male & 29 years old female, living in Delhi with no pre-existing diseases

      *₹243/month(₹ 8/day) is the starting price for a 5 lakh health insurance for a 20-year-old male, non-smoker, living in Bengaluru with no pre-existing diseases

      *₹2020/month is the starting price for ₹ 1 Cr Health insurance for a 50 year old male & 50 years old female, living in Bangalore with no pre-existing diseases rounded off to nearest 10.

      *₹390/month (₹13 per day) is starting price for 1 cr. Health insurance for 25 years old male, with pre-existing diseases, residing from tier 1 city rounded off to the nearest 10.

      *No medical tests are required unless requested by the insurer’s underwriter. In-case of pre-existing diseases relevant medical proof would be required as per the terms and condition of the policy opted.

      *The values taken for effective cost calculation are indicative values and may change as per the selected plan.

      *Coverage upto double the amount of Sum Insured is available on certain covers for a minimum plan of Rs. 5 Lakh on the first claim only to an individual of upto 45 years of age with no pre-existing diseases. The benefit is available with or without extra cost depending on the plan chosen.

      *Coverage of pre-existing diseases is provided by insurer as per their underwriting policy.

      *The scope of coverage may vary from plan to plan.

      ~Source: Google Review Rating available on:- http://bit.ly/3J20bXZ

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      Tax Benefits are subject to changes in tax laws. GST Exemption depends on fulfilment of qualification criteria and submission of relevant documents as required by the insurers. For more details on risk factors, terms and conditions, please read the sales brochure and applicable rules and regulation carefully before concluding a sale.

      STANDARD TERMS AND CONDITIONS APPLY. For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale.

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