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Top 10 Reasons to Buy a Health Insurance Plan Online
Health insurance has become a necessity today to protect yourself from skyrocketing prices of medical treatments in India. However, buying a health insurance policy is no longer a hassle. You can easily buy a health plan online that fits within your budget by choosing from the wide variety of affordable health insurance plans available in the country. Let’s find out why buying medical insurance online is a wise decision.
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- Top 10 Reasons To Buy Health Plan Online
10 Advantages of Buying Health Insurance Policies Online
Take a look at the top 10 benefits of buying a health insurance policy online:
1. Abundance of Choices
There are several health insurance plans that you can find online. In fact, all insurance companies in India allow their customers to purchase health plans online. These plans may differ in terms of benefits, coverage, premiums, etc. When buying the policy online, you can check out these numerous plans without any hassle and pick a plan that best suits your health needs & pocket.
2. Easy Comparison
Comparing different health plans can help you select your ideal plan. Comparing multiple health plans from different insurers can be a hassle. On the contrary, comparing health plans online is an effortless task as you compare them all in one place. You can visit insurance broker websites like Policybazaar and compare different plans based on their coverage, benefits & premiums to choose the most suitable plan for yourself.
3. More Convenient
Online buying of health insurance is more convenient than offline buying. You can research, compare, select and buy a policy any time of the day or in the middle of the night. Besides, you are not required to step out of your house as you don’t need to stand in a queue or take an appointment to meet with an agent. This is just not possible during offline buying and thus, online purchase of health plans is more convenient.
4. Absence of Agents and Middlemen
When buying health insurance online, there are no agents or middlemen involved. Insurance companies sell the health policy directly to the policyholder during online purchases. As a result, you are not influenced by the agent of a specific company and are able to buy the best policy for yourself.
5. Lower Premiums
The operational costs of the insurance company reduce when you buy a health policy online. There are no agents or middlemen and thus, the insurer saves on their commission. The company also saves on postal charges and office expenses while operating online. As a result, you are charged a lower premium when buying a policy online.
6. Time-Saving
Buying an online health policy is also a faster process. Unlike offline buying, you do not need to stand in long queues or wait for days to receive your policy documents. Instead, you receive your policy documents on the same day. Thus, you end up saving a lot of time.
7. Minimal Paperwork
Online buying of health insurance involves minimal paperwork. You do not have to fill out several forms or submit documents to get yourself a health cover. In fact, some insurance companies issue a policy with zero paperwork with no document submission.
8. Instant Policy Issuance
When you buy a health policy online, your policy is issued almost instantly. You just have to enter a few details about the person to be insured like name, age, medical history, etc. With online premium payment, the process becomes quicker and you are issued with a policy in just a few minutes.
9. Safer Transaction
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. IRDAI or the Insurance Regulatory & Development Authority of India has registered websites that are genuine and have safe payment gateways. You can use a debit card, credit card, net banking or UPI to pay your premium online safely on these websites.
10. Informed Decision
One of the biggest benefits of buying a health policy online is that you can get feedback about 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 know the incurred claim ratio of a company to know their financial health. You can also check the reviews of existing customers to know about the post-sales service of a company. As a result, you make an informed decision when you buy a health plan.
Summing It Up
Buying health insurance online after comparing their rate of premium and other benefits is exceedingly popular in India. People can not only find the best policies in minimum time but can also make all transactions online through safe and secure payment gateways. Besides, the absence of agents and related problems while purchasing online health insurance has led to better a claim settlement ratio for the insurance company. Thus, you must buy health insurance online for a quick and hassle-free experience.
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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
##On ground claim assistance is available in 114 cities
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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