Magma HDI Health Insurance
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Overview of Magma HDI Health Insurance
Magma HDI Health Insurance is the health insurance segment of the Magma HDI General Insurance Company Limited. The company was formed as a joint venture between India’s Magma Fincorp Limited (better known as Poonawalla Fincorp Limited) and Germany’s HDI Global SE. These plans provide medical coverage against a variety of unforeseen medical expenses to individuals, families and senior citizens.
The Magma HDI General Insurance Company offers swift claim assistance as they promise to settle claims within 30 days. Besides, the company has earned an incurred claim ratio of 66.42% in FY 2021-22.
Magma HDI Health Insurance Plans
Magma HDI health insurance plans provide financial support to pay for a wide range of medical expenses. Here is a list of health insurance plans offered by Magma HDI General Insurance Company to its customers:
Plan name
Magma HDI OneHealth Insurance Plan
For family
Plan name
Magma HDI Individual Personal Accident Insurance Plan
For accidents
Plan name
Magma HDI Arogya Sanjeevani Plan
For individuals
Plan name
Magma HDI Corona Kavach Plan
For COVID-19
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C apply.
View more plansMagma HDI Health Insurance Plans in Detail:
Magma HDI One Health Insurance Plan
Magma HDI OneHealth Insurance is a comprehensive health insurance plan that provides coverage to the entire family against medical emergencies. It is available for a sum insured ranging from Rs 2 lakh to Rs 1 crore. The plan comes with five variants – Support, Secure, Support Plus, Shield and Premium.
Features & Benefits:
- Coverage for hospitalization expenses, including pre and post-hospitalization costs, are available
- Psychiatric treatment, maternity expenses, IVF treatment and HIV/AIDS are covered
- OPD cover, convalescence benefit, loss of income benefit and companion benefit are available
- Annual health check-up facility and cumulative bonus are available
- Sum insured recharge facility is available for a maximum of five times in a year
- Optional covers, such as critical illness cover, personal accident cover and voluntary co-payment, are also available
- Early joining benefits for applicants less than 40 years old
- No maximum entry age
Magma HDI OneHealth Senior Insurance Plan
The Magma HDI OneHealth Senior Insurance plan has been designed to cover the medical expenses of people above 55 years of age. The plan comes with a sum insured ranging from Rs 3 lakh to Rs 25 lakh and is available in two types – Platinum and Gold.
Features & Benefits:
- In-patient hospitalization, modern treatments and AYUSH treatments are covered
- E-opinion for critical illness and shared daily room cash are available
- Ambulance charges and domiciliary hospitalization are covered
- Annual preventive health check-up is available
- 10% cumulative bonus for up to 100% is available for every claim-free year
- OPD cover, home nursing and non-payable expenses cover are available as add-on covers
- 100% recharge of the sum insured benefit is available as an add-on
- PED waiting period of only 1 year is available
- No maximum entry age
Magma HDI OneHealth Extra Cover
Magma HDI OneHealth Extra Cover is a super top-up insurance plan that offers financial support to the insured after the base policy is exhausted. The plan comes with deductibles ranging from Rs 2 lakh to Rs 20 lakh for a sum insured ranging from Rs 5 lakh to Rs 1 crore.
Features & Benefits:
- Hospitalization expenses, domiciliary hospitalization and AYUSH treatments are covered
- Psychiatric treatment cover and HIV/AIDS cover are available
- 100% recharge of the sum insured is available once in a policy year
- Guaranteed cumulative bonus and reduction of PED waiting period available as add-on covers
- Option to include personal accident cover, worldwide hospitalization cover and non-payable expenses as an add-on
- No room rent limit
- No maximum entry age
Magma HDI Individual Personal Accident Plan
The Magma HDI Personal Accident Insurance plan provides comprehensive coverage against medical emergencies arising out of a road accident. The plan is available for a sum insured ranging from Rs 1 lakh to Rs 5 crore and comes in three variants – Basic, Wider and Comprehensive.
Features & Benefits:
- Coverage for accidental death and permanent total/partial disability are available
- Ambulance charges, transportation costs and the cost of damaged clothing are covered
- Education fund is also available
- The plan comes with worldwide accidental coverage.
- Medical expenses extension and hospital confinement allowance are available under the Comprehensive variant as add-on covers
Magma HDI Loan Guard Plan
The Magma HDI Loan Guard plan provides financial support to the insured to pay off the debts in case of unforeseen events like an accident or diagnosis of a critical illness.
Features & Benefits:
- Coverage for up to 60 critical illnesses and 23 infectious diseases are available
- Both accidental death and permanent total disablement are covered
- Permanent total disablement, funeral cover and emergency road ambulance are available as add-ons under PA cover
- Education benefit and double benefit are also available as add-ons under PA cover
- EMI cover is available along with the option to add the maternity EMI cover
- Hospicash benefit, loss of job, business interruption and fire & allied perils are also available
- Second e-opinion for critical illness is applicable
Magma HDI Individual Loan Protect Plan
The Magma HDI Individual Loan Protect plan takes care of the loan amount of the insured in case he/she suffers from unforeseen situations like critical illnesses and accidents. The plan is divided into four types – one star, two stars, three stars and four stars – depending on the number of critical illnesses covered.
Features & Benefits:
- Coverage for up to 18 critical illnesses and procedures
- Accidental death and permanent total disablement are also covered
- Loss of job and fire & allied perils cover are also available
- Business interruption due to insured perils is also covered
- Second opinion cover is available as an optional cover under the critical illness cover
- Earthquake and terrorism damages are available as optional covers under fire & allied perils cover
- A survival period of 90 days applies to critical illness cover
Magma HDI Arogya Sanjeevani Plan
The Magma HDI Personal Accident Insurance plan provides comprehensive coverage against medical emergencies arising out of a road accident. The plan is available for a sum insured ranging from Rs 1 lakh to Rs 5 crore and comes in three variants – Basic, Wider and Comprehensive.
Magma HDI Arogya Sanjeevani policy provides coverage against medical expenses arising out of accidental or sickness hospitalization. The sum insured amount ranges from Rs 50,000 to Rs 10 lakh under this plan.
Features & Benefits:
- Hospitalization expenses, including pre-hospitalization and post-hospitalization expenses, are covered
- Coverage for modern treatments are available
- Cost of day care treatments, AYUSH treatment and cataract treatments are available
- 5% cumulative bonus for up to 50% is granted for every claim-free year
- 5% co-payment is applicable on all claims
Why Should You Buy Magma HDI Health Insurance Plans?
Take a look at some of the key benefits of buying a Magma HDI health insurance plan below:
- No Upper Entry Age – Most health insurance plans by Magma HDI General Insurance Company come with no maximum age for buying the policy.
- 24x7 Claim Assistance – The insurer offers claim assistance to its policyholders round the clock.
- Annual Health Check-up – Some Magma HDI health insurance plans cover the cost of preventive health check-up facilities conducted every year.
- Tax Benefits – The plan allows the policyholder to avail tax deductions on its premium amount under Section 80D of the Income Tax Act, 1961.
How to File a Claim with a Magma HDI Health Insurance Plan?
Check out the process to file a cashless claim under Magma HDI health insurance:
1
Notify the TPA
Inform the third party administrator (TPA) of the Magma HDI General Insurance Company about your planned hospitalization at least 72 hours in advance and emergency hospitalization within 24 hours.
2
Provide Necessary Details
Submit all the necessary required details to the TPA to get pre-authorization for cashless treatment, including diagnosis, name of the hospital, estimated treatment cost, etc.
3
Get Pre-Authorization
The TPA will verify the submitted documents as per the policy terms & conditions and grant pre-authorization for cashless treatment.
4
Claim Settlement
Once the treatment is complete, the TPA will pay the medical bill directly to the network hospital. For reimbursement claims, avail the treatment and submit all the necessary documents to the TPA within 30 days of getting discharged from the hospital. The TPA will review your documents and pay you the claim amount as per the terms and conditions of your policy.
For reimbursement claims, pay the full hospital bill at the time of getting discharged and collect all the documents. Submit all the required documents to the Cholamandalam MS General Insurance Company. The insurer will verify the documents and pay you the claim amount as per your policy terms & conditions.
Documents Required for Magma HDI Health Insurance Claim
Given below are the list of documents required to raise a reimbursement claim with Magma HDI health insurance:
- Magma HDI health insurance claim form
- Test reports
- Doctor’s prescriptions
- Hospital discharge summary
- Hospital bill, payment receipts and cash memos
- Medicine bills
- Death summary (in case of death)
Magma HDI Health Insurance Network Hospitals
Magma HDI General Insurance Company allows its policyholders to avail cashless hospitalization services at all its network hospitals spread across the country. Here is the list of Magma HDI health insurance network hospitals located in different cities:
How to Buy Magma HDI Health Insurance Plans?
Follow the steps given below to buy Magma HDI health insurance online at Policybazaar Insurance Broker Private Limited:
Step 1: Click on the icon of ‘Health Insurance’ on the homepage
Step 2: Choose the people to be covered under the health plan along with the age of the eldest adult and child
Step 3: Enter your personal details, including gender, mobile number and city
Step 4: Provide details of your medical history, if any
Step 5: Choose the Magma HDI health insurance plan to be purchased
Step 6: Select any add-on covers to be included and pay the final premium amount online
Step 7: The insurance company will issue the policy in less than 2 minutes.
How to Renew Magma HDI Health Insurance Plans?
Take a look at the steps involved in renewing a Magma HDI health insurance policy online:
Step 1: Visit Policybazaar.com and go to the ‘Renew Your Policy’ tab to select ‘Health Renewal’
Step 2: Log in with your mobile number and OTP received on your phone
Step 3: In case you are a new user, you can click on the ‘health insurance’ icon on the homepage and enter the requested details
Step 4: Choose the Magma HDI health insurance renewal plan
Step 5: Pay the renewal premium online
Step 6: The insurance company will renew the policy.
How to Calculate Magma HDI Health Insurance Premium?
Magma HDI health insurance premium calculator can be used to calculate the premium of a health plan offered by the insurance company by entering details, such as the preferred sum insured, policy tenure, etc. Use the health insurance premium calculator below to calculate the premium of a health policy before buying.
Contact Details of Magma HDI Health Insurance
Here are the contact details of Magma HDI General Insurance Company:
| Categories | Contact Details |
| Toll-free No | 1800-266-3202 |
| Email Id | customercare@magma-hdi.co.in namaskar@magma-hdi.co.in (for senior citizens) |
Magma HDI Health Insurance FAQs
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Q1: What is not covered under Magma HDI Health Insurance plans?
Ans: The Magma HDI Health Insurance plans do not cover medical expenses arising out of self-inflicted injuries, alcohol addiction or drug abuse, vaccination costs, unproven treatments, sterility treatments and cosmetic/plastic surgery amongst others. You can check the complete list of exclusions by going through the policy wordings of the various health insurance plans.
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Q2. Where can I get Magma HDI health insurance hospital list?
Ans: You can check the list of network hospitals empanelled with Magma HDI General Insurance Company in your policy document. You can also visit Policybazaar.com to get the Magma HDI health insurance hospital list for different cities in India.
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Q3. What is Magma HDI health insurance claim settlement ratio?
Ans: The Magma HDI health insurance claim settlement ratio is 95.84% in the year 2021-22.
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Q4. How can I check the Magma HDI health insurance premium?
Ans: You can check the Magma HDI health insurance premium chart to know the premium of a health policy. You can also use the online insurance premium calculator available on Policybzaar.com to know the premium of a Magma HDI health policy.
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Q5. How do I check my Magma HDI health policy?
Ans: You can check your Magma HDI health insurance policy by connecting with the customer care team or by logging on to the website of the insurance company. If you have purchased your policy from Policybazaar.com, you can also visit the website to check your policy details.
Policybazaar exclusive benefits
- 30 minutes claim support*(In 120+ cities)
- Relationship manager For every customer
- 24*7 claims assistance In 30 mins. guaranteed*
- Instant policy issuance No medical tests*
Health insurance companies
Disclaimer: The list mentioned is according to the alphabetical order of the insurance companies. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. For complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website www.irdai.gov.in
Magma HDI Health Insurance Plans
Magma HDI Arogya Sanjeevani Policy
Magma HDI OneHealth Insurance Plan
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*We will respond in the first instance within 30 minutes of the customers contacting us. 30-minute claim support service is for the purpose of giving reasonable assistance to the policyholder in pursuance of the claim. Settlement of claim (including cashless claim) is the responsibility of the insurer as per policy terms and conditions. The 30- minute claim support is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. For further details, 24x7 Claims Support Helpline can be reached out at 1800-258-5881.
*Product information is authentic and solely based on the information received from the Insurer. Policybazaar is acting only as a facilitator and claims settlement shall be at the sole discretion of the Insurer. Policybazaar does not provide any medical or surgical advice or diagnosis and is not responsible for your interactions / treatment by a medical practitioner/hospital. Please consult a registered medical practitioner for any medical or surgical advice. The Information that you obtain or receive from Policybazaar, and its employees, or otherwise on the Website is for informational purposes only. As per the Insurance guidelines, you are allowed to cancel the policy with-in 30 days from the date of Issuance of policy.This option is available incase of policies with a term of one year or more.
*All the health insurance plans cover hospitalization expenses including COVID-19 treatment cover up to the specified limits. You can also buy specific COVID-19 health insurance policies such as Corona Kavach Policy and Corona Rakshak policy.
**All savings and online discounts are provided by insurers as per IRDAI approved insurance plans. #Tax Benefits are subject to changes in tax laws. GST Exemptions depend on fulfilment of qualification criteria and submission of relevant documents.
*₹1748/month is the starting price for a 1 crore health insurance for an 18-year-old male, with no pre-existing diseases. Discount on renewal premium is subject to the number of wellness points earned in the health insurance policy. For more details about the plans, please read the sale brochure carefully to get upto 100% discount on renewal premium.
*₹400/month is the starting price for ₹ 5 lakh Health insurance for a 30 year old male & 29 years old female, living in Delhi with no pre-existing diseases
*₹541/month is the starting price for ₹ 10 lakh Health insurance for a 30 year old male & 29 years old female, living in Delhi with no pre-existing diseases
*₹762/month is the starting price for ₹ 1 Crore Health insurance for a 30 year old male & 29 years old female, living in Delhi with no pre-existing diseases
*₹243/month(₹ 8/day) is the starting price for a 5 lakh health insurance for a 20-year-old male, non-smoker, living in Bengaluru with no pre-existing diseases
*₹2020/month is the starting price for ₹ 1 Cr Health insurance for a 50 year old male & 50 years old female, living in Bangalore with no pre-existing diseases rounded off to nearest 10.
*₹390/month (₹13 per day) is starting price for 1 cr. Health insurance for 25 years old male, with pre-existing diseases, residing from tier 1 city rounded off to the nearest 10.
*No medical tests are required unless requested by the insurer’s underwriter. In-case of pre-existing diseases relevant medical proof would be required as per the terms and condition of the policy opted.
*The values taken for effective cost calculation are indicative values and may change as per the selected plan.
*Coverage upto double the amount of Sum Insured is available on certain covers for a minimum plan of Rs. 5 Lakh on the first claim only to an individual of upto 45 years of age with no pre-existing diseases. The benefit is available with or without extra cost depending on the plan chosen.
*Coverage of pre-existing diseases is provided by insurer as per their underwriting policy.
*The scope of coverage may vary from plan to plan.
~Source: Google Review Rating available on:- http://bit.ly/3J20bXZ
##On ground claim assistance is available in 114 cities
Tax Benefits are subject to changes in tax laws. GST Exemption depends on fulfilment of qualification criteria and submission of relevant documents as required by the insurers. For more details on risk factors, terms and conditions, please read the sales brochure and applicable rules and regulation carefully before concluding a sale.
STANDARD TERMS AND CONDITIONS APPLY. For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale.
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