Magma HDI Health Insurance

Magma HDI General Insurance Company Limited is a joint venture between Magma Fincorp Limited, one of India's largest NBFCs and HDI Global SE Germany which is part of the Talanx Group, a multi-brand conglomerate that has a presence in over 150 countries. Magma HDI offers a range of innovative retail & commercial general insurance products. The insurance company offers 50 products across categories including health insurance, motor insurance, marine insurance, fire insurance, etc. The company also maintains a pan India presence with 135+ offices in different cities.

In the health insurance segment, Magma HDI has a variety of plans to offer like the individual health insurance plan, family health insurance, personal accident cover, group health cover, etc. Along with the health insurance plans, Magma HDI also offers benefits like out-patient cover (OPD cover), a facility for health check-ups, Wellness Programs, etc. Magma HDI registered an impressive health claim settlement of 95.17% in the financial year 2019-20.

Magma HDI Health Insurance Company offers a variety of health insurance plans. Following are the top health insurance plans offered by the insurance provider:

1. Magma HDI One Health Insurance Policy - It is a comprehensive insurance policy that provides coverage for hospital bills, offers a no-claims bonus as well as rewards you for staying fit. This plan is available in two types namely Individual basis and Family Floater basis and comes with sum insured options ranging from Rs. 2 lakh to Rs. 1 crore. The key benefits provided under this plan include maternity cover, Ayush cover up to 10% of sum insured, OPD cover, loss of income cover, pre-hospitalisation expenses cover and post-hospitalisation expenses cover. One of the key features of the plan is worldwide emergency cover.

2. Magma HDI Arogya Sanjeevani Policy - The Arogya Sanjeevani Policy is a standard health insurance policy available on individual as well as family floater basis. This plan provides the option to choose sum insured from Rs. 1 lakh to Rs. 5 lakh in multiples of Rs. 50,000. The minimum and maximum entry age under the policy is 18 years and 65 years, but the coverage can be extended to any limit with the lifetime renewability option. The benefits of this plan comprise in-patient treatment, pre-hospitalisation and post-hospitalisation, AYUSH treatment, daycare procedure, road ambulance cover, ICU/ICCU charges, etc.

The health insurance plans offered by Magma HDI Health Insurance are good for your health as well as savings. You can get the tax benefits subject to the maximum of your sum insured amount of the health insurance policy as per the section 80D of the Income Tax Act. Following are the tax benefit details which can be availed with the Magma HDI Health Insurance Plans:

Following are the key health insurance benefit offered by the Magma HDI Health Insurance Plans:

• Free Annual Health Check-Up - Magma HDI Health Insurance provides free annual health check-up for all adult insured persons, irrespective of claims.
• Restoration of Sum Insured - Magma HDI Health Insurance offers the facility of Restoration of the Sum Insured of the policy. Thus, the sum insured amount of the health insurance plan gets restored after the base sum insured level gets exhausted during the policy year. This helps you to meet unforeseen medical emergencies.
• Worldwide Emergency Cover - Under this cover, Magma HD Health Insurance will cover the Medical Expenses incurred outside India in relation to the policyholder.
• Portability Benefits - Magma HDI Health Insurance allows policyholders to port their existing health insurance policy to them from another insurer or from an existing product issued by them.

Policyholders can avail the following inclusions under the health insurance policies of Magma HDI Health Insurance:

• In-Patient Hospitalisation - It is a cover under which insurers offer coverage for medical expenses incurred due to hospitalisation for at least 24 hours for the treatment of injuries or illnesses. The coverage includes room or boarding costs, doctor’s fees, nursing expenses, cost of medicines, medical test costs, etc.
• Pre-Hospitalisation and Post-Hospitalisation Costs - These are the medical expenses incurred on the treatments and medications of the insured person before and after the hospitalisation for the same illness or injury for which hospitalisation is done. The plans offered by Magma HDI General Insurance provide cover for pre-hospitalisation and post-hospitalisation expenses.
• Daycare Procedures - Daycare treatment refers to medical treatment, and/or surgical procedure undertaken under general or local anesthesia in a hospital/daycare center in less than 24 hours because of technological advancement. Treatment normally taken on an out-patient basis is not included under daycare treatment. These treatments are covered under Magma HDI health insurance plans.
• Domiciliary Hospitalisation - Under this option, the insurance provider pays for the medical expenses incurred for the treatment taken at home due to unavailability of bed in a hospital or as the patient is not in a condition to be moved to a hospital.
• AYUSH Treatment - The benefit covers medical treatment for Ayurveda, Unani, Siddha and Homeopathy in a government hospital or in any institute recognized by the Government and/or accredited by Quality Council of India or National Accreditation Board on Health.

What All Is Not Covered Under Magma HDI Health Insurance Policies?

Policyholders can not avail the following exclusions under the health insurance plans of Magma HDI Health Insurance:

• Self-Inflicting Actions - Treatment costs of injuries or illnesses suffered due to the act of self-destruction or self-inflicted, attempted suicide or suicide will not be covered.
• War-Like Conditions - No coverage is offered for injuries or illnesses incurred during a war or any act of war, invasion, act of foreign enemy, war like operations, civil war, riots, and so on.
• Abuse of Drug or Alcohol - Illness or Injury attributable to consumption, use, misuse or abuse of tobacco, intoxicating drugs and alcohol or hallucinogens are not covered.
• Vaccination Costs - Cost of all the preventive care vaccinations including inoculation and immunizations, other than for post-bite treatment or if used as a part of the treatment, will not get the coverage.
• Mental Disorders - The expenses incurred on the treatment of mental illness, stress, psychiatric or psychological disorders will not be compensated.

The inclusions and exclusion mentioned-above may vary from plan to plan offered by Magma HDI Health Insurance.

The following are the descriptions of the health insurance policy terms related to policy benefits and features provided by the Magma HDI Health Insurance Company. However, the conditions of these offerings may vary from plan to plan:

Policyholders can buy best health insurance policies of Magma HDI Health Insurance through online and offline methods at InsuranceDekho.

Buy Magma HDI Health Insurance Plan Online at InsuranceDekho

Follow the below steps to buy a Magma HDI health insurance policy at InsuranceDekho:

Step 1: Visit the official website of InsuranceDekho, i.e., www.insurancedekho.com and select the ‘Health’ tab.

Step 2: Select your Gender and enter your Name and Mobile Number. You will receive an OTP, please enter that.

Step 3: Choose the time when you wish to buy the health insurance plan. Click on the ‘View Instant Quotes’ button to proceed.

Step 4: Select the members of your family whom you want to include in the health insurance plan along with you.

Step 5: Select the age of the family members whom you have added in the policy and click on the ‘Continue’ button.

Step 6: Enter your Email ID and City and click on the ‘Submit and View Quotes’ button. Insurance policy quotes based on your selection will appear. Select an insurance plan which best suits your budget and requirements.

Step 7: Select the policy term of the selected health insurance policy. Fill the required details and make payment to complete the purchase process.

Buy Magma HDI Health Insurance Plan Offline at Insurancedekho

To buy a Magma HDI Health Insurance plan offline at InsuranceDekho, you can call us at 7551-196-989 between 9.30 AM to 6.30 PM (Monday-Sunday).

For any questions or assistance, please feel free to write to us at customersupport@insurancedekho.com.

The renewal process makes the policyholder to continue to avail the features and benefits of the plan of the Magma HDI Health Insurance. The process allows the insured persons to modify the health insurance plans such as change in sum insured, opt for add-ons, and so on, which helps them stay protected in a better manner.

You can call Magma HDI Health Insurance at 1800 266 3202 to renew your health insurance plan.