People can now even buy an insurance policy online and gain adequate medical coverage that helps them to mitigate the extensive financial costs.

Medical Insurance Online Tips to Ensure a Convenient Purchase
Thursday, October 29, 2020 - 19:43

Ensuring their good health and well-being should ideally be the priority of every person. Hence, it is important for people to be financially secured so that they can handle any unexpected contingency that might arise and threaten their well-being. One of the key steps of ensuring this financial security would be to invest in comprehensive health insurance.

People can now even buy an insurance policy online and gain adequate medical coverage that helps them to mitigate the extensive financial costs that might arise due to medical emergencies and unexpected hospitalization. Medical insurance policies provide people with the assurance that they would get to avail superior quality of medical treatment whenever needed, without weakening their financial savings and exhausting their savings.  People can even invest in a comprehensive medical insurance plan for their whole family.

Major Reasons to Invest in Medical Insurance

Health insurance offers multiple reasons to invest in it. To mention a few are:

  - Uncertainty: Tomorrow is an unknown territory; no one knows what might happen to them or their loved ones in the future. Nobody plans to get into an accident or acquire an illness, however, unfortunate circumstances do happen. A medical insurance policy can provide people with monetary aid during these unfortunate times, and assist them in getting through them. 

  - High Expenses: Expenses incurred in acquiring quality medical care in contemporary times is quite significant. From medical prescriptions to doctors’ consultation, preliminary diagnosis to a post-operative checkup, each of these steps incur considerable expenses. Paying for all these charges at one go can be quite difficult for a person. Therefore, it would be advisable for people to invest in a health insurance policy so that they can save a smaller sum of money each month for your medical expenses. Medical emergencies may require sudden expensive treatment; thereby, it would be a safer option to opt for an insurance policy so that one can acquire the necessary treatment and care at the required time.

  - Quality Healthcare: Health is one of the elements of one’s life with which should never be compromised. One wrong health-related decision can have a severe impact on the well-being of a person. Therefore, it is important to always opt for premium quality health care while suffering from any ailment. Selecting a substandard and ill-equipped facility for availing medical treatment can worsen the health condition of a person to a greater extent, rather than improving it. Incompetent medical treatment might result in lifelong health problems and even death. However, as a health insurance policy covers the cost of medical treatment, one would not have to go for a substandard facility just due to monetary constraints after investing in it.

Buying Health Insurance in India 

In India, there are multiple ways to invest in health insurance plans, both online and offline. These methods include:

  - Local branch of any insurance company 

  - Insurance agents 

  - Official website of insurance companies 

  - Third-party insurance aggregator websites 

A significant number of people opt to choose any of the last two options and buy insurance online due to the multiple benefits associated with this system. 

Benefits of Buying Health Insurance Online 

The following are the benefits one can avail of for buying health insurance online:

  - Comparison: There are various online insurance aggregator websites present today that enable the buyers to compare diverse insurance plans online. Comparing multiple plans, their features and quotes side by side can be highly effective in enabling people to make an informed decision, and identify the perfect plan that fits their requirement and comes under their budget. 

  - Saves Time: The contemporary world is extremely fast-paced, where people tend to have a severe lack of time. Due to this, in many cases, they procrastinate on vital decisions, such as investing in medical coverage. Many believe that the insurance application process is extremely complex and long-drawn, which dissuades them from investing in such policies. However, it is imperative that they know that by opting to buy insurance online, they can make this process invariably easier and hassle-free.  Online insurance buying processes involve much lesser paperwork than the traditional system, and can be completed within a few minutes. People can easily buy such policies during their office lunch break, while commuting from one place to another, waiting for food at a restaurant, and so on.

  - Security of Policy Document: It is not uncommon for people to lose their policy document, especially if it has been quite some time that they have invested in the plan. Reissuing a duplicate document from the insurance company can often be a hugely cumbersome process. One can easily avoid such a situation if they opt to buy their medical insurance plan online.  In the case of online insurance purchase, the policy buyer would get a soft copy of the document, ideally in a PDF format. They can easily store it in their computer, hard drive or in the cloud, to ensure that they never lose it. 

How to Buy Medical Insurance Online? 

There are two ways to buy insurance online. The first way is to do so through the website of the insurance company. Most of the major insurance companies of India make certain medical insurance policies available for purchase through the web. People simply have to visit these websites, select the plan of their choice, and follow the steps mentioned there to buy the insurance coverage required by them. The specific steps involved in buying insurance plans through such websites would differ from company to company. 

The second way to invest in medical insurance online would be through third party insurance aggregator websites. At these websites, one can both compare and buy insurance policies with ease. Here are the steps they need to follow to buy medical insurance online through the major through third party insurance aggregator websites of India: 

People firstly have to fill in certain important details in the comparison tab of these websites, and subsequently click on the ‘get quotes’ option. The details that they typically have to fill would include:

  - Name

  - Age

  - Marital status

  - Residential city 

  - No of members they want coverage for 

  - Annual income

  - Occupation  

Based on the details provided, the website shall list a host of plans offered by discerning insurance companies. Among the various quotes offered, the buyers can compare them in terms of various parameters, including need of medical check-up, premium amount, cap on sum insured and so on.  

After identifying the perfect policy to invest in, the buyers should click on it. 

This would take them to a health declaration form. Here they have to mention details like their medical history and occupation. They would also get the option to add riders and benefits to the policy through this form. To ensure that they get a timely and smooth claim settlement, later on, it is imperative to correctly fill up this form. 

As they are done filling up this form, the buyers shall be redirected to the website of the insurance company. Here they have to select their payment option, and make the needed payment to purchase the plan. The payment can be made through net banking, as well as credit or debit cards. 

Subsequent to completing their transaction, the buyers would receive a digitally signed copy of the plan. This document can easily be retained and printed at any time. 

Wrapping it Up!

By following the steps mentioned above, people can easily buy medical insurance online in just a few minutes. Owing to the immense advantages medical insurance plans provide to people, it is vital to not procrastinate on buying them. No one knows what health contingency they might be faced with tomorrow, and hence, investing in a comprehensive medical insurance online would be the most prudent choice for them.