Bursting Some Myths About Buying Insurance Online

Buying insurance has traditionally been a process that is driven by personal connect. An insurance agent or advisor would be someone known to the family, and all members would invariably rely on them to demystify products and share the required information. Eventually, one would end up buying a plan recommended by the advisor. With the age of digital transformation, things are now changing for the insurance landscape as well.

With the advancement of technology, it is now possible to purchase insurance online, and the process is simple, efficient, and flexible. So, from health insurance, motor insurance, and life insurance to travel insurance, buying online is the new road ahead. Today, we are bursting some of the common myths surrounding online insurance purchase and giving you enough reasons to consider it as a great new way of buying insurance.

Myth 1: Purchasing insurance online is complicated 

Well, that’s not right. Purchasing insurance is as simple as anything else you purchase online. Online platforms like the Bajaj Finance Insurance Mall allow you to choose from wide range of plans, know more about their features, compare pricing, and then purchase plans conveniently through your preferred payment mode. In addition, there is no tedious paperwork, and what you have is a seamless, digital experience – anywhere, anytime.

Myth 2: Buying insurance online is expensive 

Not at all. When you buy online, an insurer saves on operational costs and there are no middlemen involved. This way, insurers are in a position to offer better premiums when they offer insurance plans digitally.

Myth 3: Online claims are difficult to raise and settle 

Gone are the days when insurance claims meant taking a folder of documents and visiting an insurer physically. Today with robust systems in place, insurers have their apps or portals that are specifically designed to handle online claims and offer options like instant claim settlements as well. Online claims receive as much importance and priority as offline claims and are treated with the same  rigor.

Myth 4: You have limited product options to choose from 

Exactly the contrary, we would say. When you buy insurance online from a platform like the Bajaj Finance Insurance Mall, not only do you have a host of products to choose from, but you also have the advantage of comparing various products under the same roof. So, you end up making an informed decision without having to go through multiple products and sites for information.

Myth 5: Buying insurance online is not a secure process 

With the Insurance Regulatory and Development Authority of India (IRDAI) setting up stringent regulations and processes, insurers today  are transparent about their processes and terms and conditions of the insurance policies. Additionally, with robust security systems in place, you can make online transactions without any fear since they offer a secure environment to purchase insurance online.

In conclusion, purchasing insurance policy online can be an excellent option for those who want convenient and hassle-free access to insurance products and services. It eliminates the need for intermediaries such as agents, who may have their biases and commission-driven agendas, by providing direct access to insurance providers. Moreover, purchasing insurance online saves time and money as customers can quickly compare policies, premiums, and benefits, and choose the best option that meets their needs. With the rise of technology, the trend towards purchasing insurance plans online is rapidly increasing, and customers are reaping the benefits of a transparent and affordable insurance buying experience.

If you are looking to purchase a health, motor, or life insurance plan, visit the Bajaj Finance Insurance Mall and choose from 300+ insurance plans online. Compare features and premiums and buy the plan of your choice within a few minutes. What’s more, you have the advantage of purchasing the plans through a 100% digital process without any hassles or stress.

Disclaimer – *T&C Apply. Bajaj Finance Limited (‘BFL’) is a registered corporate agent of third party insurance products of Bajaj Allianz Life Insurance Company Limited, HDFC Life Insurance Company Limited, Future Generali Life Insurance Company Limited, Bajaj Allianz General Insurance Company Limited, SBI General Insurance Company Limited, ACKO General Insurance Limited, ICICI Lombard General Insurance Company Limited, HDFC ERGO General Insurance Company Limited, Tata AIG General Insurance Company Limited, Niva Bupa Health Insurance Company Limited , Aditya Birla Health Insurance Company Limited, Manipal Cigna Health Insurance Company Limited and Care Health Insurance Company Limited under the IRDAI composite CA registration number CA0101. Please note that, BFL does not underwrite the risk or act as an insurer. Your purchase of an insurance product is purely on a voluntary basis after your exercise of an independent due diligence on the suitability, viability of any insurance product. Any decision to purchase insurance product is solely at your own risk and responsibility and BFL shall not be liable for any loss or damage that any person may suffer, whether directly or indirectly. Please refer insurer’s website for Policy Wordings. For more details on risk factors, terms and conditions and exclusions please read the product sales brochure carefully before concluding a sale. URN No. BFL/Advt./23-24/201

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