Magma Health vs Narayana Health Insurance Health Insurance 2026

Overview

Magma HDI General Insurance Company Limited is a joint venture between Magma Fincorp Limited and HDI Global SE, serving over 4.5 million customers across India. The company offers a wide range of insurance solutions, including affordable and comprehensive health insurance plans, along with 30+ products spanning motor, marine, and fire insurance. With a strong focus on customer needs, Magma HDI provides reliable coverage options designed for individuals, families, and businesses.

COMPANY DETAILS

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Magma Health

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Narayana Health Insurance

Number of health insurance plans	No. of Plans 1 ❯	No. of Plans 2 ❯
Sum insured	Sum Insured Up to ₹ 3 CR	Sum Insured Up to ₹ 1 Crore
Claim ratio	Claim Ratio 94.72%	Claim Ratio 100%
Network hospitals	Network Hospital 8400+	Network Hospital 2400+
Solvency Ratio	Solvency Ratio 2.02	Solvency Ratio 1.61
Pan India Presence	Pan India Presence 95	Pan India Presence 21
Claim Form	Claim Form Available	Claim Form Available
Annual premium (company level)	Annual premium (company level) 742.77 Crore	Annual premium (company level) 2.37 Crore
Years in operation	Years in operation 2012	Years in operation 2023
24×7 claim support	24×7 claim support Yes	24×7 claim support Yes
IRDAI registration number	IRDAI registration number 149	IRDAI registration number 166
Claims settled within 3 months	Claims settled within 3 months 96.84	Claims settled within 3 months 92.27
Recommended Videos	▶ Magma HDI Health Insurance

Health Insurance Companies

Finding a reliable insurance company is as critical as purchasing suitable medical insurance plans to avail of all the expected benefits of the policy. Here are the 28 most trusted health insurance providers in India.

Star Health Insurance

Care Health Insurance

Aditya Birla Health Insurance

HDFC ERGO Health Insurance

Apollo Munich Health Insurance

Niva Bupa Health Insurance

ICICI Lombard Health Insurance

Tata AIG Health Insurance

Bajaj General Insurance

SBI Health Insurance

Royal Sundaram Health Insurance

ManipalCigna Health Insurance

Reliance Health Insurance

IFFCO Tokio Health Insurance

Future Generali Health Insurance

National Health Insurance

United India Health Insurance

New India Health Insurance

Navi Health Insurance

ACKO Health Insurance

Digit Health Insurance

ZUNO General Insurance

Universal Sompo Health Insurance

Liberty Health Insurance

Kotak Mahindra Health Insurance

Magma Health Insurance

Cholamandalam MS Health Insurance

Oriental Health Insurance

Raheja QBE MS Health Insurance

Galaxy Health Insurance

Narayana Health Insurance

Know More About Health Insurance Companies

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Magma Health Insurance

Magma HDI One Health Insurance Plan

Magma HDI One Health insurance policy is a versatile health plan with 5 different plan variants and high sum insured options rangi...

SI Up To 2 Crore
Voluntary Co-pay
CI & PA Coverage

SI up to ₹2 Crore
Voluntary Co-pay
CI & PA coverage

Global coverage not covered
No automatic restoration
AYUSH cover not available

Lifelong renewability option
Provides coverage for all medical expenses
Voluntary Co-Pay

Minimum: 18 Years Children: 91 Days to 26 Years

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Narayana Health Insurance

Narayana Aditi Health Insurance

The Aditi Health Insurance by Narayana Health Insurance is a comprehensive plan that provides emergency coverage from day one, wit...

No waiting period
Annual health checkups
Coverage available at non-network

1 Cr sum insured
room category modification
living organ donor.

Domiciliary hospitalisation not covered
OPD treatment not covered
maternity not covered.

Annual health check-up
road ambulance charges
coverage from day one.

Entry Age: 18 years
Maximum Entry Age: No age limit
Sum Insured: INR 5 Lakh to 1 Crore
Waiting Period: No waiting period.

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Individual and Family Health Insurance

Narayana Arya Health Insurance

The Narayana Arya Health Insurance plan is a comprehensive health insurance plan offered by Narayana Arya Health Insurance and Nar...

Comprehensive health policy
Cashless hospitalisation
Easy claim process

Upto 1 crore sum insured
Zero waiting period
Pre and post-hospitalisation

Daycare treatment not covered
Domiciliary treatments not covered
OPD charges not covered

Any room type available
Top-up options available
Quick claim process

Entry Age: 18 years (Maximum 65 years
with no upper age limit for renewal) Sum Insured (SI): INR 25 Lakh to 1 Crore Waiting Period: 30 days

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Compare with Other Insurers

New India Health United India Future Generali Cholamandalam Ms Kotak Mahindra Oriental Health Acko Health Navi Health Digit Health Universal Sompo Tata Aig Bajaj General Star Health Shriram Health Insurance Company Apollo Munich Icici Lombard Iffco Tokio National Health Reliance Health Royal Sundaram Hdfc Ergo Sbi Health Niva Bupa Health Care Health Manipal Cigna Aditya Birla Edelweiss Health Insurance Liberty Health Raheja Qbe Galaxy Health Narayana Health Insurance Niva Bupa

Expert Reviewed

Reviewed By: Raj Kumar

With over 12 years of rich experience in the BFSI domain, with a specialisation in Life and Health Insurance, I have played a pivotal role in simplifying the insurance-buying process and delivering unparalleled service.

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