Modern technology 🌐 has quickly transformed the insurance industry over the last decade. Now, you can find almost all insurance companies online and choose from the range of products that they offer. This has made it easy to buy online health insurance 💻.
Do you remember the days when policies were sold by insurance agents? They used to earn big commissions against each policy sold by them. This was the traditional insurance model. The agents were the intermediaries and the only resort for detailed information on any insurance policy.
☔ Why Do You Need Health Insurance?
With the incidence of the Covid-19 pandemic and the rising healthcare costs, the world has started to see health insurance as a tool to reduce the burden of medical expenditure induced by such unforeseen events. Without proper health coverage, it is difficult for a common man to bear the bulk of hospitalization expenses.
A health insurance policy provides cover against the expenses that you incur to get treated for critical medical conditions or emergency hospitalizations against payment of insurance premium. Here are the factors that affect the premium charged.
- Your age 🔞
- Medical history📝
- Lifestyle 😷
- Body mass 💪
- Amount of medical cover applied for ⚕️
Why Should You Buy 💻 Online Health Insurance?
Unlike buying health insurance offline, online health insurance not only saves time but is also easy to understand and use. You can compare different policies offered by various insurers and choose the one with the lowest premium for the best coverage.
While buying you do not have to depend on an intermediary or agent. As a result, the money that was paid as a commission to the agent is saved and your premium costs are reduced. Let’s take a closer look at all the benefits of buying online health insurance.
Benefits of Buying Online Health Insurance
Here is the list of major advantages of buying a health insurance policy online.
The Convenience of Online Transactions: More and more customers have been added to the portfolios of insurance companies since the amalgamation of technology in the insurance sector.
This is because of the convenience of carrying out online transactions within a few clicks. It makes online health insurance much more approachable as compared to offline mode.
Compare Different Policies Online: Information is the greatest asset in the 21st Century. It gives you the power to make the right decisions based on data. The Internet has made diverse information readily available to common people.
With technology, you can compare different policies offered by various insurers and choose the policy with the best terms and conditions for you.
No Middlemen 🧛♂️: You can altogether avoid the middlemen by applying for health insurance online. This reduces the risk of misrepresentation of information by the agents to push their sales.
Moreover, the commission that a middleman would have earned is saved. This benefit is passed to the customers in the form of discounts and concessions on premiums.
Premium Discount and Low Policy Charges: An online transaction costs much less compared to an offline one. While buying health insurance offline, you have to visit the branch office and execute numerous documents. This attracts charges.
On the other hand, there is no requirement for physical paperwork when you buy online health insurance. Hence, the policy charges are minimal. Also, the benefits of reduced costs are passed on to the customers by charging discounted premiums.
🥛 Transparency Reduces Risk of Frauds: As you can gather much information about an insurer before buying health insurance, it reduces the risk of fraudulent practices. This immunity is available even for the insurer, as all your details are easily verifiable.
Since online transactions are always authorized, they are official and easily verifiable. Unlike cash transactions, an online transaction cannot be denied as the system maintains a log for such transactions.
Quick & Secured Transactions 🔒: As the most preferred way of mass transactions, it is of immense importance to safeguard the transactions. You can easily verify the security level of a website by checking the following:
A website starting with “https://” in the URL is secured.
Secured payment gateways operate with SSL Certificates to provide a risk-free environment for online transactions. Usually, this is mentioned on the webpage.
Save Taxes on Insurance Premiums: Health Insurance premiums are allowed as a deduction from taxable income under Section 80D of the Income Tax Act, 1961. Hence, you can save taxes along with securing your family with medical cover.
Benefits of Buying Group Health Insurance 👨👩👧👦
A Group Health Insurance is purchased by a company on behalf of its employees. The purpose of such a policy is to ensure quality medical facilities for the employees and their families. There are many benefits of group health insurance. Let’s take a closer look at them.
- Power of Numbers: Buying bulk insurance for all your employees and their families gives you the power of numbers. Due to this, you can bargain the premium charged.
- Employee Satisfaction: Most employees are dissatisfied with their organizations and switch jobs frequently. If you take initiative 🌱 for group health insurance, you can ensure that your employees are satisfied. Thus, they remain loyal and do not switch jobs.
- Maternity Coverage: GHIs cover the expenses for both normal and c-section deliveries. Along with this, they also cover the newborn baby for at least 90 days until things become more stable.
- Tax Benefits 💳: The insurance premium paid by the employer for group health insurance is allowed as a deduction from the taxable income.
Buying online health insurance can be the best option for you as you can compare various insurers and their products. It is key to research before buying health insurance. Only then can you reap the full benefits.
With Plum Group Health Insurance, you can buy health insurance cover for your employees with attractive premiums and no hidden costs. The best online health insurance plan is just a few clicks away with Plum’s group health insurance experts.
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