Role And Importance Of A Health Insurance Advisor

By Author: Pranav V Sharma
Total Articles: 141
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The role and importance of a health insurance advisor can be gauged by the analogy of doctor and a patient or counsellor’s advice to a student or a lawyer’s advice to a prisoner. To sum it up, it can be expressed in one word as ‘Vital’. This is because they are domain experts and therefore we look up to them to provide us valuable advice so that we make informed decisions and appropriate steps to achieve our goals. Similarly, a health insurance advisor has a firm grip on the knowledge pertaining to health insurance domain. Therefore, it is imperative on all of us to take quality and timely advice from them in matters where our health is concerned.

Health insurance I just another manifestation of insurance products with risks and benefits that is packaged in a wholesome manner and sold at the market place. There is no dearth of the number policies that you will come across when you go out to buy a health plan. The health plans are so identical to each other that many a times you will be left overwhelmed with the same kind of messaging and features that it will practically leave you befuddled. You quest to find ...
... a health insurance plan will hit a road block if you try to decipher the various features of those policies on your own.

It is here that we come to grips with the importance of a health insurance advisor, or more commonly known as an agent or broker. It is this guy who will be able to tell you the difference between various policies and will afford you a less hazy picture with regards to a health insurance plan that suits your needs the best.

These health insurance advisors are domain experts. However, one needs to be very careful while utilizing their services. There are two kinds of insurance agents namely, independent and captive. An independent insurance agent is the one who has not contracted to any one health insurance company but has to offer health insurance from all kinds of service providers. However, a captive insurance agent is bound by the terms of his employment which allows him to sell the health insurance plan of that company alone.

Thus, a captive insurance will try to push the product that he has contracted to sell by manipulating information and with the slight of the hand tricks. While the independent insurance will provide you with various option and help you choose the one that will suit your need in the most appropriate manner. Not being contracted by the insurance company is an advantage to him and therefore his incentive and motivation would be to win the trust of the customers rather than shoving a product down an unwilling customer’s throat.

Typically a health insurance advisor will do the following things for you:

• Compare policies
• Provide proposal forms and liaise with the insurance company on your behalf
• Remind you of renewal dates
• Explain the exclusions and fine prints
• Be your one point contact

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Pranav Sharma is an insurance agent based in Mumbai; Pranav assists individuals and corporates in purchasing the right health insurance policy & often shares his insights about the general insurance industry on internet.