What is an E-Health Insurance Policy?
E-health insurance policies are available for purchase and use online from any location. In April 2014, the Insurance Regulatory and Development Authority of India(IRDAI) approved the request of some insurance organisations to make information on insurance strategies available online for various insurers. As a result, if you purchased the plan after April 2014, you are automatically covered by the E-insurance facility. You don't need to keep a lot of paperwork if you have E-health insurance. This also safeguards you against theft and loss. Your insurance is easily accessible from anywhere. It is as simple as shopping on any e-commerce website.
Important Reasons to Buy Health Insurance Online
Purchasing health insurance has numerous advantages. Life is unpredictable and with increasing cases of lifestyle-related diseases such as hypertension, diabetes, and depression, it is critical to have financial security in the event of a medical emergency. People have traditionally purchased health insurance policies for themselves and their families from insurance agents and brokers. Without the lack of information about which policy was best for them, they would have bought what the agent was selling. In today’s world of the internet, people are more informed. It has also made it possible for the policyholders to buy health insurance online. Let us have a look at some important benefits of buying health insurance online.
- Easy Comparison: Buying health insurance online is convenient as you can go through all the policy documents, brochures, terms, and conditions. You also have the option of choosing the right policy from abundant options available online. Checking more than a few plans offline can be a hectic task. Besides, if you plan to buy from an agent, you won’t have many alternatives. However, you can compare hundreds of plans online and choose the best one for you. It is a very transparent procedure.
- Affordable: If you buy a health insurance policy online, you will have the benefits of lower costs as compared to buying that offline. There would be no agents or brokers hence, eliminating their cost. That is why online health insurance policy premiums are more affordable.
- Convenient: Buying an insurance policy offline is a very daunting as well as time-consuming procedure. But you can buy online health insurance from the comfort of your home. You don’t have to wait for a long time for the policy to come into effect as you can pay the premium instantly and reap the benefits of the policy.
- Quick Assistance and Security: Online health insurance plans are secure as the information is directly provided to the insurer without any third party. Also in case of any doubt or problem, you can get in touch with the customer support team and the problem will be solved in no time.
- Checking Reviews: In the digital world, it is easy to check the reputation of the policy before buying as the customers tend to share their experiences online. You can easily check the claim settlement procedures of the policy you are willing to buy.
- Automated: In the case of online health insurance, renewals can be automated as the premiums can be automatically deducted from your bank account on the date of renewal. If you plan to pay the premiums on EMI that can also be automated without you having to worry about keeping a track of renewal dates and other information.
- Premium Calculator: When you buy a health insurance policy online, you can use this tool to calculate the actual premium payable for the policy. It is effortless to use as you simply have to include details like policy duration, sum insured, and age.
Points to Remember Before Buying Health Insurance Online
Before you plan to buy a health insurance policy online, you must spend some time and effort to understand what is covered and what is not in your policy.
- Assess Your Needs: Buying health insurance will be based on various factors like marital status, age, pre-existing conditions, and lifestyle. Decide whether you want to buy a single policy or a family floater plan. Keep in mind the future inflation in medical fields and take adequate coverage.
- Compare Online: You can visit comparison sites online where you can compare hundreds of policies and choose the best suited for you and your family. Make sure to check the sum insured, coverage benefits, list of hospital networks, claims settlements, exclusions, etc before buying.
- Read Terms and Conditions: It is important to understand all the policy conditions before you take the decision. Ensure that the policy doesn’t have any capping or co-payment clause.
- Compare Premiums: You can check the premiums of different health insurance policies by using the online premium calculator.
Read more - All You Needed to Know About Health Insurance Plan Portability
Should You Buy a Health Insurance Policy Online?
Buying health insurance policies online is easier, convenient and affordable. You can experience flexibility and transparency while buying a health insurance policy online. There is absolutely no paperwork required and it saves time too. You can find so many health insurances from the top insurers of India and also compare every aspect before deciding which one to buy for you. The online process is more secure. This makes your life easier and safer.
Conclusion
An E-health insurance policy has several benefits. It is very crucial to buy health insurance policies keeping in mind today’s lifestyle approach which is sedentary and unhealthy. Health insurance coverage for an entire family is advisable as it will provide financial support in the time of need. However, people tend to forget or take out time from their busy lives to buy and renew their health insurance policies. Hence, buying the policy online is beneficial to get the right coverage at affordable prices. You can compare plans and read all the details before making the right choice.
Read more - How Safe is Buying Health Insurance Online?
