Monday 6 June 2011

Insurance Brokers ---- for you!


Not everyone is aware of the concept of brokerage in Insurance. Well, people are not even aware of benefits of insurance, that’s why only 3% of Indians are insured. Irony is that 2% are insured either by govt. or by employer. If we want to define Insurance in one line, it will be ‘Insurance is all about transferring your risks’. Wow! In an economy where health expenditure can easily make a whole in your pockets, if given a chance why will not anyone go for health insurance or mediclaim? Sometimes…in fact most of the times, we think….this is not the right time….we are healthy enough….but think again…are you really healthy enough and there is no probability that you will fall sick? We feel that adversity will never knock on your door before arriving.
Trust us…BEST TIME to buy a health insurance policy IS NOW! Most of the policies have waiting period of 3/4 years for pre-existing diseases and for certain other diseases; there is a waiting period involved. Think about your parents, your dependent children….giving them a healthy future is the perfect gift.
So, where brokers come in picture? Brokers are an IRDA (Insurance Regulatory Development Authority) accredited firm who deal with all the insurance companies. The basic difference between an insurance agent and a broker is: broker will represent a client to the insurance company as compared to an agent who represents an insurance company to the client. Brokers under the strict guidelines of IRDA should have sound technical employees to deal with the clients. Brokers take full responsibility for your policy documentation, renewal and claim settlement.
HEALTH INSURANCE IS OUR BIRTH RIGHT and we all should avail it. Taking few minutes out of our busy schedules to invest for a healthy future is not at all a bad bargain.