E- health insurance – How it works?

By: Pranav V Sharma

Recently in India the trend of doing everything the ‘E’ way (i.e. via the internet) has increased tremendously. With this has increased the trend of buying health insurance policies online. Those were olden days when a person had to take appointment to visit the insurer, meet brokers or insurance agents just to know details about different health insurance polices and then buy them. Due to such a long procedure only to own a health insurance policy refrains the people from buying the health insurance policy.

In this fast and metropolitan life every thing is available online. All the insurance related products can be viewed and even bought over the net. Infact plans available over the net are most of the times way better than the plans that are available offline. Also it becomes difficult to remember details about different health policies and the benefits they provide as well as the prices they offer and then compare them. Usually there is a chance of missing or forgetting some points and thus this might lead to improper manual comparison. Therefore the person interested in buying the health insurance ends up choosing the wrong health insurance policy. This tedious task of remembering the details of different policies along with its benefits is not required when you are trying to buy a health insurance policy over the internet. You can easily compare the different attributes of different health insurance policies and then choose and purchase the one that is fit for you depending on your requirements. The health insurance plans that are available over net are also termed as E-health insurance plans.

This online platform enables the people to buy health insurance policies over the internet directly. Thus, this brings down the distribution charges and lets the customer buy the health insurance policy at the best possible rates. It is expected that in future the overall costs of buying health insurance via internet (i.e. E-health insurance) will be reduced even further.

However the one looking forward to buying health insurance policy needs to be very careful while going through different policies. There is a high potential and risk for falling victim to fraud. There are many fraud health insurance dealers which try and lure the customers by giving them the best and may be the deals that might be absolutely impossible in real life. Thus it is advisable that health insurance policies should be bought from trusted insurance companies only and it is better to avoid falling for fraud health insurance vendors. One more disadvantage of purchasing the health insurance policies online is that these policies are pre set and hence one cannot customize the policy according to individual needs. This results in the person wanting to buy the health insurance policy ending up having to buy from the ones that are available. The buyer will not have any liberty to customize the policies.

Also there is an absence of agent and this might not always prove to be advantageous. Due to the absence of agent the buyer will have to look for the benefits and coverages himself and if by chance he misses some point then this might lead him to trouble later. The key here is ‘being careful’.

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Pranav Sharma a Mumbai based insurance broker assists individuals and corporates in purchasing the right health insurance & often shares his insights about the Mediclaim industry on internet.

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