Six Questions To Ask Before Choosing An Insurance Agent In India

The importance of insurance cannot be stressed enough in today’s times. However, there are times people prey on these emotions and hence it is essential to have a good advisor or agent especially when selecting a medical insurance in India.

The uncertainties which we encounter on a day to day basis teach how one should prepare for a rainy day. Insurance does not symbolise a state of perpetual fear of that which may not happen. It shows a state of preparedness for that which maybe.

Hence arises the all important point as to what are key essentials in selecting an insurance agent for a policy such as the senior citizen life insurance among others:

 

  • An Insurance agent is essential because of the extremely technical verbiage one must encounter when purchasing an insurance policy.

 

  • The agent works on behalf of the policy holder and hence provides all the necessary clarification which company representatives tend to gloss over.

 

  • Insurance brokers or agents have better knowledge based on regular dealing and hence provide options well synchronised to the respective individual financial needs such as when choosing a travel insurance in India.

 

  • If the agent agreement is properly framed they become legally bound to work to the best interests of the policy holders.


Insurance agents or brokers are essential for selecting a policy and the trust in them comes from the fact there is an authority which keeps them in line. IRDA or Insurance Regulatory Development Authority is constantly bringing in regulations for restricting unfair and mala fide practices in the Indian Insurance sector.

An agent or broker is required because:
 

  • They also perform reviews upon the present insurance programme. For instance when selecting an auto insurance in India, one must know the state wise specific requirements or constantly changing IRDA directives for the right product choice.

 

  • They work on behalf of the client to secure the best deals.

 

  • They take the pains to understand the business and personal needs of the policy holder and accordingly design an Insurance portfolio.

 

  • The best offer is selected after comparing quotes from a number of companies. Thus, one can get the best mediclaims insurance by comparing deals from across the board.

 

  • The Insurance agent or broker also takes care of the mountainous piles of documentation and administrative synchronisations.


Insurance brokers or agents also play a very vital role in quick and efficient claims management. They play when claims often get stuck due to grey areas in interpretation and also provide support during renewals.

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