How to Choose The Right Health Insurance Agent

In an unpredictable world fraught with medical risks and growing concerns over the spiralling cost of treatment, insurance acts as the safety net to support you and your loved ones.

When faced with these risks, opting for the right insurance can be the difference between a hassle-free experience and one which might result in claim rejection.

To prevent such an experience, insurance agents have taken up the role of guiding lights to demystify the confusion surrounding health insurance and make the purchase process a lot simpler.

This article aims to shine a light on them and showcase the vital role they play today in making insurance accessible and convenient for most people.

IMAGE: UNSPLASH

What Is An Insurance Agent, And What Is Their Role?

An insurance agent is a trained professional responsible for advising and guiding prospective customers about insurance products. They act as an intermediary between customers and insurance companies to bridge the gap between them.

An insurance agent understands prospective customers’ needs and offers insightful recommendations to solve those needs. Other than this, they are also responsible for providing financial advice and helping them budget for the policies.

There are typically two types of agents one can approach when looking to purchase an insurance policy.

Independent: An independent agent is a licensed expert who is free to sell policies from any number of insurance providers with whom they are affiliated. An independent agent typically has a more extensive list of policies from various insurers and can offer many choices. Independent agents are usually known by name; customers typically look for them by name.
Exclusive or captive: An exclusive or captive agent, on the other hand, represents only a single insurer and exclusively sells policies from them. While the policies offered by an exclusive agent are limited in quantity, they have a much more in-depth knowledge of a particular organization’s products, systems and processes, leading to a smoother experience. Exclusive agents are typically known for the companies they are affiliated with, for example, Niva Bupa Health Insurance or TATA AIG, rather than their names.

How Does A Health Insurance Agent Ease The Purchase Process?

While traditionally playing a sales role, agents have evolved into more of an advisory function over time, making the purchase process for prospective customers and those looking to understand more about insurance much more straightforward.

After approaching you or being approached by you, an agent listens to your needs and pain points.
Based on this understanding, they will suggest their policies and recommend the best one for your needs based on their experience and in-depth product knowledge.
The agent will also explain the policy details, including inclusions, exclusions, terms and conditions, etc., along with information on the claims process.
Agents also offer financial advice based on expenses to help fit the policy within your budget.
After completing the selection process, an agent will help with the rest of the formalities and complete the sales process.

Conclusion

An insurance agent plays a vital role in guiding customers and demystifying the confusion surrounding health insurance.

They might act as agents of the insurance provider they are affiliated with, but they utilize their expertise and in-depth knowledge of the products to help you get the policy for your needs.

So get the right insurance to protect yourself and your loved ones from the spiraling cost of treatment and get quality healthcare to secure your well-being from growing health risks.