Susceptibility to Scammers

This arena of net is filled with numerous fraudsters who may offer you a very low cost insurance plans and provide rates which would be too good to be true.  The security level is very low and we easily fall into the trap of a written statement online. It’s completely believable to us that the statement has authenticity. Insurance business is a highly lucrative business and hence the scammers find it very easy to grab customers online. So you need to be very cautious while choosing your insurer online.

After all these measures you are ready to pick your insurance policy online. Here are few precautions which you should keep hold of while buying an online insurance provided by Sakina BabwaniSakina Babwani, ET Bureau.

1. Submitting Incorrect Information in form

As you don’t have any middle person such as insurance agent to do the paper work for you, it is highly recommended that you should not submit incorrect information in your insurance form. Your insurance claim can be rejected if it finds any wrong key facts about you later, which would ultimately cost you. Before filling the form, gather a proper knowledge of your family medical history and reveal all particulars about your social habits and lifestyle.

2. Not comparing all the available options

You should search for a proper search and comparison done on the profits provided by different insurers. Because choosing an insurance which will fetch small amount of premium from you will ultimately not fetch you much profit. That is this profit at the end of the term period will bring a very little amount. Some insurers promise higher returns of a value which is not always true. So you should pick your insurance which suits you as well as will bring you a good amount of profit too.

In this context of cross checking different policies, Deepak Yohannan, CEO of MyInsuranceClub.com says, “Comparing term plans is not difficult as most policies have the same features, but it becomes difficult with health policies, as you need to dig out more information, such as hospital network and exclusion clauses”. Hence you should access and compare all the insurance plans before you buy.