7 Online Insurance Myths – No One Tells You About!

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What No One Tells You About Insurance

Insurance for many in India is still a taboo! Many people are still oblivious to the plethora of benefits an insurance policy can bring to your life.

Why is an insurance still a social stigma in India then? To explain it in short, it is called misinformation and seeking advice from the wrong and inept people.

It is because of such people with backward mentality who push you into believing that insurance is a costly affair and it is bound to deplete your money in the long run. Wrong! Insurance is one of the safest and secure methods of applying your money for your very own safety and security.

Due to wrong advice and improper research many of us are still skeptical about insurance and this apprehension needs to come to an end.

Here we highlight a few myths about online insurance purchases doing the rounds with proper myth-busting to help you gauge in the end how powerful the deluge of benefits from an insurance really are:

Myth – Online Insurance Buying Is A Very Intricate And Complicated Process.

Fact: Buying insurance online is much simpler, compared to the traditional process. No longer do you have to run around insurance agents seeking their advice, all you are required to do now is to have your identification documents ready for signup and log in.

After the log in, scour through the website and select a suitable policy that you like,fill the application form and submit the required documents and you are done! In case, a medical examination is required for a health insurance, you will be duly informed about it and a medical representative will help you take the process further. The freedom that online insurance websites buying gives of buying insurance from anywhere and at any time, gives you immense flexibility which is lacking in offline purchase systems especially when you have to run around from department to department for mere form checking.

Myth – There Is No Personal Or Direct Assistance After Online Policy Application

Fact: It is the most baseless misconceptions there can be! However, the fact is that most insurance companies offer the option of constant and in-depth online assistance to solve all your queries since that is what they strive to achieve – consumer satisfaction.

Any such information ranging from plan based clarifications, clause interpretations and renewal options, real-time assistance will be delivered to you through either an online chat window or a toll free number phone call.

Myth – You Need To Be Tech-Savvy To Be Able To Buy Online Insurance

Fact: You only need to be a basic level internet literate for buying any kind of online life insurance or health insurance plan. If you are well-versed with basic operation of a computer and surfing the internet, buying a policy online will be a piece of cake for you!

Myth – Claim Settlement Isn’t Easy For Online Policies

Fact: Most people have this inhibition that the claim settlement process for any policy purchased online is complicated and should be avoided. However, since all claims are settled by the head office of the respective insurance issuing company, settlements for online or offline policies happen within the same time-frame.

Myth – Buying Insurance Online Tends To Be Costlier

Fact: Buying any such plan online is actually cost effective and saves you loads of time, since you do not have to run around paying agents for their services.

Since online websites do not add infrastructure costs to the price of their plans, their prices often have lesser rates compared to offline plans that are almost similar in cover and benefits.

Myth – Online Insurance Plans Are Limited And Offer No Variety

Fact: Ever since online websites dealing in insurance sale came into the fray, consumers were gifted with total freedom to avoid normal red tape and hiding of facts. Now they can now themselves crosscheck and compare any kind of insurance plans that they wish to purchase.

Thanks to online assistance you can also seek critical advice from online insurance agents about the differences in each plan at no extra cost!

Myth – It Is Highly Unsafe And Silly To Share Your Personal Information Online

Fact: Most insurance websites affiliated with reputed insurance companies are normally hosted on SSL (Secure Sockets Layer) servers with AES 128-bit encryption techniques which are technically impossible to crack even through specialized software or hackers.

What this means for you is that your passwords and log in data are safe and you do not need to be scared about misuse of your private data. The SSL server handles all financial transactions in accordance with bank websites with full security and zero chances of error and leakage of personal info online.

We now hope that by busting such myths we have now helped you to convince yourself about the safety and integrity of purchasing an insurance online.  Invest smartly and lead a happy life!