How to Buy Individual Health Insurance Online - Here's Step to Follow

Thanks to digitalisation, it has become easy to buy health insurance online . You can buy an individual health insurance plan online either from the insurer’s website or from an insurance aggregator. Irrespective of the platform chosen, given below are some of the steps you need to follow:

Once you choose the individual health insurance plan that you wish to buy, you need to fill up the proposal form. The form captures details such as your name, age, mobile number, email id and your lifestyle habits, among others.

Based on the details given, you are given a quote. Note that the quote differs across plans and policies. In case you are young and healthy, the quote is on the lower side. On the other hand, if you are aged and are addicted to smoking and drinking, the quote is high.This is because the insurer takes a higher risk on your health in case you are addicted to these habits. The quote is the premium which you need to pay for your policy. If you are happy with the quote, proceed further.

Next, you need to give detailed information about your existing health conditions. Note that if you are suffering from any pre-existing disease, make sure to declare it to your insurer. Concealing such information can lead to claim rejection later.Hence, make sure to provide accurate details of your existing health condition to your insurer. If you get stuck anywhere in the process, call up the customer care helpline for guidance. You can also resort to chatbots integrated in websites for help.

The last step in buying individual health insurance online is to upload the relevant KYC documents and others as demanded by your insurer and make payment. Pay online through net banking or debit/credit card, and once you make the payment, the soft copy of your policy is sent to your email id.The hard copy is delivered to your given address in a few days. Read the policy documents and make sure everything matches the information provided by you. In case of any ambiguity, get in touch with your insurer immediately.

Before buying individual health insurance online, understand the policy features, check out the list of inclusions and exclusions, co-pay and sub-limit clauses to make an informed choice.

The information contained herein is generic in nature and is meant for educational purposes only. Nothing here is to be construed as an investment or financial or taxation advice nor to be considered as an invitation or solicitation or advertisement for any financial product. Readers are advised to exercise discretion and should seek independent professional advice prior to making any investment decision in relation to any financial product. Aditya Birla Capital Group is not liable for any decision arising out of the use of this information.