When I go for an online term insurance, should I go directly or should I go through aggregators like poilicybaazar?
How do they make money? If I go through them, what are the advantages / disadvantages for me? Do i have to pay more?
Do I have to go through them incase of a claim? Do they share my details to somebody else?
VS-You can use aggregators information cautiously. Because I noticed that they FORCE you to buy particular ONLINE Term Insurance, rather than just comparing and showing result. Reason is, they earn some commission back end from isnurance companies. Hence, I always of view that even current ONLINE term insruance products are not PURELY AGENTs cost free. They are hidden in nature which you or me never come to know.
In my view, they take care only during buying a product. How can they help you in long run? Because they are not the authorized agents to guide or help during claim. Also, we don’t know how long such aggregators run their business. You don’t have to pay more even if you go with aggregators. Because such costs already included in your insurance premium. This is where I smell something wrong, which even IRDA not at all acting.
They may share your details or not is purely their business call. Hence, I suggest you to compare the product. But take decisions based on your requirement but not on someone’s big claims.