 "When it makes sense to buy health cover offline")
These days you can buy (almost) anything online - from a television set to an insurance policy. And, of course, buying an insurance policy online can be cheaper, thanks to the low operational cost for the insurer. But when it comes to health insurance, buying it offline might just be the better option, under certain circumstances, as this report in Business Standard notes.
Offline traditional plans are more convenient for the reason that your insurance agent will do all the running around on your behalf, in case there is a claim to be made. The same is true even when it comes to cashless claims or in the event of hospitalisation. Buying the policy from an agent might just spare you the legwork.
[caption id=“attachment_871795” align=“alignright” width=“380”]
Getty Images[/caption]
The Business Standard article quotes KG Krishnamoorthy Rao, managing director and chief executive officer (CEO) of Future Generali General Insurance, as saying: “Those with a medical condition - congenital, pre-existing or any other uncommon medical disorder - should take the offline route as they won’t find a cover online.” Such individuals, he reasons, should buy a plan through an insurance company or an agent after a thorough medical test."
First-time health insurance buyers too are well advised to buy the policy offline from an agent, who can explain the terms and conditions of the policy, the report adds; that cannot happen with an online purchase, it notes. For senior citizens, too, the offline route is better suited since they can buy health insurance only after a medical test. In any case, an online search may not match them with the kind of health plans they need given their specific age. If you are looking for a generic policy, the online route works; for specific health policies, however, buying it from an agent makes eminent sense.
You can read the whole Business Standard article here.
**Firstpost take:**It’s true, of course, that insurance agents can perhaps do the runaround on your behalf to settle claims. But given the extent of insurance mis-selling that goes on, we are not convinced that every real-world agent will explain the finer details, terms and conditions to the first-time buyer. Perhaps there’s a case for mixing it up a bit: even if you’re buying a policy from an offline agent, you should check out the online insurance portals and compare various policies. Also compare the policy that your agent recommends with other options online before buying. After all, being an informed health insurance buyer is, well, the best policy.