Insurance brokers are appointed by insurance companies to sell their policies to customers and through them clients can also get some affordable insurance policies.
Health Insurance plans are the backup or may call protector of people in some serious problems or illness which are life snatching and also have expensive treatments. Besides this, a right health insurance plan is like an assurance for the insured while he/she faces some kind of difficulties; there are lots of people in every country who dies or suffers with lifelong pains due of lack of support. It is a guide, a friend, a helper, an assurer, a good protector which means an overall coverage for insured person but still it is not enough to get fully covered and having all kind of money while in danger. Health is wealth and no doubt freaking for being healthy and fit is become a mania now-a-days; after advanced technologies and lifestyle people get affected easily.
People are now-a-days fell ill often and pay a huge amount of money to get rid of that illness, for treatment n good hospitals etc. but spending so much for treatment is not a matter of joke as everyone has not that capability. Health Insurance Policies in today’s scenario works as a support system, but still people should take care of themselves to prevent serious illness. Health Insurance Plans are essential for every person as it gives security and safety to the insured person with various benefits. There are various kinds of health insurance policies such as Individual Health Insurance Plans, Family Floater Plan, Children Insurance Plan, Car Insurance Plan, Mediclaim etc.
The matter of insurance brokers has been introduced in India like any other countries by the Insurance Regulatory and Development Authority of India (IRDAI) through the Insurance Brokers Regulation 2002. The regulation was modified in 2013 where functions and code of conduct of an insurance broker has been mentioned.
Insurance Broker: An Insurance Broker is a person who is specialized in insurance and risk management to provide right advice to the clients and help individuals or businesses in the identification of risk while suggesting suitable insurance solutions to cover the risks. Besides that, an insurance broker must also provide technical advice about insurance claim and can help in arranging and placing the insurance cover with the chosen insurance company. Insurance Brokers are experts about subject matter on terms and conditions, coverages and exemptions so they can aid clients in selecting right insurance option.
Benefits of appointing an Insurance Broker:
As Insurance policies are difficult documents and need a total understanding of products, so insurance brokers can handle these matters as they are expert in it.
A broker can also help to find the most suitable insurance plan for clients and will arrange on the premium on the behalf of clients.
They will also make the clients aware if there any situation appears.
Clients can add risk management program through which clients can take some of the business risks that may reduce premium.
Insurance brokers will charge clients little less while buying policy as they are paid by the insurance companies to sell their products.
The brokers can also aid clients efficiently in the insurance claiming procedure as they have the technical knowledge of the complete process.