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Millennial Do Seek Health Insurance But not Like the Previous Generation They Want It Online

29 June 2022, 3:10 PM

Millennials today look at insurance as an investment and savings instrument. Since the health insurance providers offer quite a great level of customisation, the customers can very easily be able to meet their savings goals. In this digital age, it is convenient and easier to prefer online methods for purchasing and performing other operational activities related to health insurance. 

Millennials usually take their decision concerning any particular product or service by the level of accessibility the brand is offering to the digital platform. Millennials are the highest users of the internet and smartphones as well.  They even spend around 17 hours a day on online activities and are very good at understanding concepts related to access health insurance plans online

The largest millennial population of the world lives in India. Millennials constitute almost 34% of the total population of our country and almost 48% of the country's workforce. The entire millennial clan cannot waste a few minutes even to get the things done. This is the main reason why most of the brands do not prefer to carry on with an offline model. So, various brands are now transitioning into the digital structure to attract the most valued customers i.e. the millennial.

The Millennial Approach

Millennials have a high disposable income these days and would even easily spend on various luxuries of life. However, this does not imply that millennials are not concerned about the finances during contingencies like medical emergencies. There has been a change in the approach only. Earlier, the entire process was done offline i.e. by the traditional method whereas now, the process of planning and buying health insurance policies has changed and became online.

A large number of millennials are entering into the workforce these days; as a result, they are eager for making plans for themselves and their families. The costs of healthcare facilities have been rising very steeply in the country and this would create a dent in the savings of an individual. So, health insurance has become a mandatory financial product for the millennial of our country. 

Also, due to the sedentary lifestyle, many millennials have been suffering from various complicated health problems. To protect one from any such health conditions or to avail of the high-cost medical treatment for these lifestyle ailments, a contingency fund is required which would be the family health insurance plan. So, health insurance plans are a tool to ensure the personal and financial wellness of an individual. However, millennials have broken the stereotype and are now opting for online purchase platforms. 

The millennials in our country are very tech-savvy and usually do a lot of research before they decide about purchasing a health insurance plan. Millennials would prefer reading a lot of articles and reviews that are available online about a particular health insurance policy before purchasing it. Through an online platform, research and comparison of insurance products are feasible which would act as a great match for the inquisitive mindset of the millennial.  By the online realm, a millennial would get the opportunity by which they can compare the various health insurance policies and choose the best policy as per your requirement.

Major Causes of Millennial Choosing Online Health Insurance Purchase 

The major reasons as to why millennial would prefer the purchase of health insurance policies online are listed below:-

Hassle-free process

The purchase of a health insurance policy online would provide the option for performing research, comparing various policies, and purchasing according to your requirements. Millennials are mostly attracted to the feature of health insurance plans which have a free claim settlement process. However, in the traditional method of health insurance purchase and claim settlement procedure, there are a lot of rejected applications. In the traditional method, you would not have a detailed idea about the exact features and the returns expected from the policy. By the online method, you can easily download the policy brochure and know about the benefits of the policy if purchased.


The most important feature of an online health insurance policy is its transparency. You can very easily know about the background of the health insurance company, the features and benefits of the health insurance plans, and many other unique benefits as well. You would not have to deal with insurance agents who would try to bias you towards a particular health insurance policy. 

Customer is Powerful

By the online method of health insurance purchase, the entire process would be in the complete control of the customers. The process would start from doing research, comparing, filing necessary information, obtaining quotes, and finally purchasing the policy. As all the necessary information can be obtained on the company website, decisions about the purchase of a health insurance plan can be made in an informed manner. Moreover, the process of raising health insurance claim requests is also easy and the claim settlement procedure is also quite easier.

Online Customer Assistance

The process of purchasing health insurance plans can be quite a tricky affair especially when you are not so well-informed and unspecific about your goals. But, if you are purchasing online means then you would definitely obtain full customer support and assistance from the company executives. By this, the entire process of online health insurance policy purchase and operation would be easier and convenient.


So, since the millennial population, today is highly aware of the importance of health insurance policies and is prone to the use of technological means; the health insurance companies must connect with these millennials. This can be feasible by the online means of health insurance purchase, operations, claim settlement, etc. Digital insurance is the way ahead especially for the millenials and Gen Z customers.

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