Health Insurance: Online vs Offline Comparison

Health insurance policies don’t just cover hospital bills; they also include daycare treatments, teleconsultations, home healthcare, and even preventive health check-ups every year. And many people don’t know that health insurance covers medical tests, doctor consultations, and medicines even before and after hospitalisation up to a certain number of days.

If you are navigating the world of health insurance, you are at the right place. This guide will help you understand the difference between online vs offline health insurance. Bajaj General Insurance provides a range of health insurance policies tailored to the individual needs of policyholders.

Buying Health Insurance Online

When you purchase a health insurance policy online, you use the insurer’s website or comparison platforms to acquire your policy. The following are the benefits and challenges when purchasing health insurance online.

Advantages

• Purchase from the comfort of your home: Health insurance can be bought at any time of the day as per your convenience and comfort, without waiting for office hours.
• Compare multiple insurers and their policies: You can compare different health plans from various companies on one screen.
• Cheaper as compared to offline policies: The premiums paid toward online policies are cheaper because there is no agent commission to pay.
• Time saving: There is no need to visit the insurer’s office physically or submit documents. Thus, it saves time, and the entire process is fast and paperless.
• Read reviews online: You can read customer reviews to check if the insurance company is reliable.
• Full control over purchase: You can view all the policy details, like coverage, exclusions, waiting periods, claim rules, etc,. clearly before you make the purchase. Also, you can choose the policy as per your need without being pressured by the sales agents.

Disadvantages

• Difficulty in understanding complex policy terms: If you are purchasing a policy for the first time, you may find it difficult to understand all the insurance terms without the help of an expert agent.
• Too many choices may lead to confusion: Since there are so many insurance providers with multiple policies, it may confuse you.
• Insufficient knowledge: Those who are not tech-savvy or do not know how to use digital devices may find it difficult to upload documents or use digital payment methods.
• Online scams: You must be careful about online scams and visit only IRDA-registered websites to avoid falling prey to online scams.

Also Read: What is the Difference Between an HMO, EPO, and PPO?

Buying Health Insurance Offline

The process of purchasing health insurance offline takes place through an agent or by visiting the office of an insurance company.

Advantages

• Help from the insurance agent: The insurance agent helps policyholders understand the policy and also fills out the form for you.
• Guidance: Agents provide all information about different available plans and help you choose the best one based on your needs and budget.
• No risk of online fraud: Since you are paying directly to the insurer or the agent, the risk of fraud is reduced.
• Useful for those who are not familiar with the use of technology: It is better for those who are unable to use computers or the internet.
• Help or assistance: You can directly talk to the agent to understand the claim process and premium payments.

Disadvantages

• Costly as compared to online policies: Offline policies cost more because you have to pay agent commission.
• Time-consuming: Since you need to visit the office and submit the documents physically, it takes a lot of time and effort.
• No access to real reviews: It is difficult to understand what customers really say about your insurer.
• Longer time to receive policy documents: Online policy is issued instantly while offline policy may take up to two weeks.
• Risk of misplacing documents: There is a risk that some documents that need to be submitted get misplaced.
• Chance of receiving biased or incomplete information: Agents may not be able to explain all the policies or may provide limited information.

Also Read: Reasons Why Health Insurance Premiums Change With Increasing Age

Online vs Offline Health Insurance: Understanding the Differences

This comparison table will help you understand the difference between online and offline health insurance plans:

Conclusion

When purchasing a health insurance policy, either online or offline, remember to read the policy documents, understand the waiting period for diseases, and understand which add-ons you need. Choose a health insurance provider with a wide network of hospitals and review the exclusions so that you are not left wondering at the last moment why your claim was not accepted!

Bajaj General Insurance provides cashless treatment, preventive health check-ups, and many other benefits in its health insurance plans. Secure your health today by choosing the right plan.

FAQs

1. Is it safe to buy health insurance online?

Yes, it is safe to buy health insurance online if you buy from the insurer’s official website or a trusted platform.

2. Do online and offline policies have the same benefits?

Yes, both online and offline policies give the same coverage and benefits.

3. Why is online health insurance cheaper?

Online health insurance is cheaper because there are no agent commissions or extra charges.

4. Can I get help after buying a policy online?

Yes, you can contact Bajaj General Insurance’s customer care anytime after you purchase their policy.

5. Which is faster — online or offline purchase?

Online purchase is faster and takes only a few minutes.

6. Do both online and offline policies give tax benefits?

Yes, both online and offline health insurance policies give tax benefits under Section 80D.

7. Can I change my policy from offline to online later?

Yes, if you have purchased your policy offline, you can renew it later online.

*Standard T&C apply

**Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.

***Disclaimer: The content on this page is generic and shared only for informational and explanatory purposes. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making any related decisions.