Health Insurance Online v/s Offline: Which is Better?

Significance of Buying Health Insurance Policy

Indeed, life is unpredictable and taking good care of your health is vital. With the COVID-19 pandemic, it has become more important than ever before to sincerely follow a healthy lifestyle to prevent developing a disease that may lead to spending a huge amount on hospital bills.

But if such a situation arises, a medical insurance policy can give you the utmost financial security.

There is a pool of health insurance companies in India that allow you to purchase health insurance plans online and offline. Let's find out some of the significant benefits of buying a health insurance policy through online and offline modes.

Benefits of Buying an Online Health Insurance Policy

With advanced technology and digitalization, people nowadays choose to buy health insurance online. After all, it is more convenient, transparent, involves no paperwork, and policy is issued instantly.

Also, you do not have to solely rely on an agent to buy a health insurance plan. Rather, you can directly check health insurance quotes from different insurance companies over the internet, which consumes less time.

By purchasing a health insurance policy online, you can access all required information over the internet like policy coverage, exclusions, premium quotes, terms & conditions of the policy, etc. before buying Thus, it becomes easier to compare different policies offered by various insurance companies at one place.

Besides, when you buy a health plan online, many insurers offer discounts on premiums as their operational costs reduce. Thus, it will help you enjoy more benefits at a lower premium.

Moreover, you can access information on any health insurance plan online at any time and conduct a better comparative analysis for several plans leading to better decisions making. You can also check the claim settlement process of different insurance companies to find the one that will settle your claims faster.

Benefits of Buying an Offline Health Insurance Policy

Buying health insurance offline is ideal for people who are not comfortable with using a computer or the internet. People who are not tech-savvy can easily visit the local branch of their insurance company or call their agents for solving their queries.

In case you are having trouble understanding various insurance-related terms, your agent can make things clear to you and help you fill your proposal form correctly.

Since the agents are professionals with years of experience, they will also help you find the right plan according to your health requirements and fill your proposal form if required.

With the help of your dedicated agent, you can raise a ticket for customer support for services like nominee change, upgrading the policy, paying the premium, or settling the claims. Moreover, buying health insurance offline also safeguards you against the risk of cyber fraud and you can directly deal with a trusted agent.

Difference Between Online and Offline Health Insurance

Below is a comparative chart between buying health insurance online and offline-

Categories	Buying Health Insurance Online	Buying Health Insurance Offline
Cost	Online health insurance plans are available for a lower cost than buying the same plan offline.	An offline health insurance policy costs higher than purchasing it online.
Paperwork	Buying health insurance online is quite easy and involves no paperwork.	Buying a policy offline requires a lot of paperwork.
Transparency	As a policy buyer, you can access authentic information related to a policy/insurance company like claim settlement ratio on the internet. Thus, the online buying process is more transparent.	If you buy a policy offline, you have to rely on the agent for retrieving information about the policy terms and conditions.
Flexibility	As a policyholder, you have greater flexibility while selecting a policy online.	The flexibility while choosing a health insurance policy offline is low.
Comparing Health Insurance Plans	You can compare different health policies in one place over the internet.	While buying a policy offline, you have limited access to information. So, comparing two policies become tough.
Customer Feedback	Before buying a policy online, you can easily check the feedback of existing customers of the insurance company. It can help you make a decision.	When you buy a policy offline, you do not have access to customer feedback and have to rely on the information provided by your agent.
Convenience	It is more convenient to buy a policy online as you do not have to visit anyone and can buy it at any time.	It is not very convenient as you have to either visit the nearest branch of the insurance company or take an appointment with the agent.
Time Taken	It is a faster process as your policy will be issued in a few minutes.	It is a slow process as the policy may be issued in a couple of weeks.

Should You Purchase a Health Insurance Policy Online or Offline?

From the above comparative chart between online and offline buying modes, it is clear that you must prefer buying health insurance online as it has more advantages. Buying a health insurance policy online has greater convenience, transparency, flexibility, no paperwork, and saves time.

Not only do you find the best policies from the top insurance companies in India, but you can also compare them easily in one place before buying. Moreover, the online process is more secure and involves no agent commission, which makes it more affordable.

Conclusion

Buying online health insurance has many benefits. If you are confused about choosing the mode of buying a health insurance policy, consider the points mentioned in the article to arrive at a decision. Do not forget to look into factors like the insurer's reputation, claim settlement ratio, and customer support service before choosing the best health insurance plan for yourself.

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Disclaimer: The list mentioned is according to the alphabetical order of the insurance companies. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. For complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website www.irdai.gov.in

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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.

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##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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