Online insurance products are generally priced differently because there is no insurance intermediary commission involved. The insurer sells the policy directly to the customer through its website or digital platform.

If an insurance agent or intermediary is introduced later, the servicing structure and commission arrangement change and as a result, most insurers do not allow an online policy to be transferred to an agent after the policy has been issued.

While policy terms can vary between insurers, this is a common industry practice.

The Real Question Is Not About Premium?

The real question is not “How much premium I am saving today?” but the real question is “Who will support me tomorrow when I need help?”

Insurance is not a product that is purchased and forgotten. Over the years, you may need assistance with 

·       Claims

·       Policy Servicing

·       Nominee Updates

·       Address Changes

·       Documentation Requirements

·       Policy Interpretation

·       Grievance Handling

·       Renewal Guidance

·       Loan / Surrender Guidance

This is where the difference between buying a policy and receiving ongoing support becomes visible.

At the time of claim, who will Help You?

Before purchasing insurance online, ask yourself, Customer Care & Helpdesk will guide you to call a support number, raise a service ticket or request you to send an email and you will be stuck up with repeated follow ups for updates. 

A dedicated insurance agent will assist you on your policy conditions, claim documentation, co-ordination during claim settlement, escalations when they are required and ongoing policy servicing.

The value of an agent or an intermediary is often realized not when purchasing the policy, but when a problem arises.

Cheaper Premiums vs Long Term Service

Lower premiums are certainly attractive; however, insurance should not be evaluated only on purchase price. The quality of servicing, guidance and support throughout the policy journey can be equally important. When comparing insurance options, consider both

·       Cost of the policy

·       Availability of professional support

A small saving today should be weighed against the assistance you may need during a medical emergency, death claim, policy dispute or servicing requirement.

Final Thought

Before purchasing insurance online, ask yourself one simple question. If a claim occurs tomorrow, who will stand beside me?

The answer to that question may be more important than the premium difference itself, because insurance is not only about buying a policy, it is also about having the right support when you need it the most.

INSURANCE AWARENESS > INSURANCE IGNORANCE