Monday, 28 January 2013

Insurance Consultancy (New Chapter)

It is quite a new chapter in field of Consultancy and is similar just like any other consultancy service which have already begin in India, although it is just beginning and while comparing it with rest of the World Market. which is quite existing, developed, known and in demand, where it is just flourishing and rising in India. Let us keep focused with our country and for that understanding the need of today's India is important and equally how it can benefit us which is explained below

Understanding Need & Benefits for Insurance Consultancy:

As known, Insurance is basically divided into two section Life & General Insurance, where Health Insurance is one of the categories other than Marine, Vehicle, Home, Business etc and is part of General Insurance. Both LIFE and GENERAL section has their own segment and have their own importance and demand.  India's growing demand in this category have made really big industry houses to launch their services into this field.. As a result good number of companies have already launched them, "Religare & L&T" are the latest among new players into this section, and still there are many more to come as per the information available.

New Launch and growing number of companies rising like this is generating huge level of competition, which is helping consumer to get improved and quality of service then before, however has also made more difficult for person to choose this product.  More over Insurance is always considered as too complex product to understand which is day by day becoming more and more necessary in one’s life in India.

Consultancy service demand was never seen or its demand was in unearthed state, as this service was provided by the particular company’s agents first and now a day’s technology helped to make relevant information available online and did gave comparison option of support required. But still complexity of this product and required satisfaction was a miss and this is what, which have given rise to Insurance Consultancy?

Think of a situation where your loved ones has urgent need of hospitalization and you cannot get the cashless network hospital, just because you choose wrong company which do not have cashless facility in hospital in your nearby area. OR Due to delay in approval in cashless claim, you are required to pay money upfront for getting treatment started, even though you have cashless facilities available in that hospital. Remember “The latest Health Insurance Company to be Launched and seen is L&T whose advertisement say they respond with 6 hour of your request raised” or say in "Apollo Munich advertisement where we see Ganguly making statement we pay all genuine claim"  etc etc Here we see company make service feature as USP. (We do not endorse them with this statement, or put them in front of all the others at all, as there are many company which do response similarly.) But by this, what we are trying to bring your attention why Insurance Consultancy is required or is beneficial and upto what kind of service provided which are generally not know by many and cannot be known online...

Many of us prefer online buying of insurance which have become quite convenient these days and is good even that it saves some of our money and has its own pros and cons, but what majority of us lack is  the knowledge required to purchase online. Let us take the above example once again and compare it, Suppose you took health insurance just by comparing online without checking this ten points and choose the lowest premium one. And you face the above situation wont you regret your decision. Rather you will be frustrated like anything and will curse the company seeing delay in getting the services.

Same thing in regards to Life Insurance, Here the complexity of product is equal to Health Insurance, but its impact is more bad. For Health Insurance you do have option of portability to rectify the mistake you have made but there are no such option in Life Insurance. You have to stick to what you have taken. You will than look for buying one more new policy and will surrender the old policy taken etc etc... Even the feedback says, The major reason of dissatisfaction in Life Insurance is just because of wrong decision taken without doing proper Need Analysis or say misguided by some people.

Hence we recommend always have a proper analysis done and proceed as per your NEED.

It is always beneficial to get the Insurance Consultancy done by professional, Check how to buy Health Insurance and Life Insurance which will clearly demonstrate the level of complexity to consider, not all the people have this proficiency and are not even aware on how to proceed, but we hope once you are aware you still will save your self and other them from taking a wrong decision.

Remember one single, bad or emotional decision which are usually taken by many while considering LIFE & HEALTH Insurance in particular Will impact too much on your financial goals.

No comments:

Post a Comment