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Magma Health Insurance

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Magma Health Insurance

Avail Hospital Cash
Buy online health policy
Critical illness covered

Network hospitals

8400+

Incurred claim ratio

72.1%

Sum insured

Up to 3 CR

No. of Plans

12

Solvency Ratio

2.1

Pan India Presence

100+

Customized Health Insurance Plan for you.

Get upto 15% Online Discount*

Select Members You Want To Insure

1 Adult

2 Adults

2 Adults & 1 Child

2 Adults & 2 Children

2 Adults & 3 Children

Other Members

Age of Eldest Member

Network hospitals

8400+

Incurred claim ratio

72.1%

Sum insured

Up to 3 CR

No. of Plans

12

Solvency Ratio

2.1

Pan India Presence

100+

About Magma HDI Health Insurance

Magma HDI General Insurance Company Limited is a joint venture between Magma Fincorp Limited and HDI Global SE Germany. With more than 45 Lakh customers, the company has been looking after the healthcare needs of its customers for many years.

The company offers over 30 products across different categories that include health insurance, motor insurance, marine insurance, fire insurance, etc.

The company also won many awards in the last few years. Have a look at the list of awards won by Magma HDI in the last 2 years:

CX Excellence Award- 2022
Technology Excellence Awards- 2022
Winner of BFSI Excellence Awards 2021 for Outstanding use of AI and Robotics
Rising Star Company of the Year at India Insurance Awards 2020
Recognized as one of the Best BFSI Brands 2019 by The Economic Times
Winner of Golden Peacock Award 2019 for Risk Management - For both the General & Life Insurance Industry

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Magma HDI Health Insurance

Magma HDI Health Insurance

Why Choose Magma HDI Health Insurance Company?

Before investing your money in any health insurance plan, you must have elaborated knowledge about the company. Before investing in any health insurance company, you must read about a few parameters such as availability of network hospitals, claim support, solvency ratio, and annual premium.

Network Hospitals:
At present, the company is equipped with more than 7200+ network hospitals across India that allow customers to avail themselves of hassle-free cashless hospitalization.
Solvency Ratio:
As per the Insurance Regulatory and Development Authority of India (IRDAI), it is mandatory for every health insurance company to maintain a solvency ratio of 1.5. As per the IRDAI Report 2021-22, the solvency ratio of the company stands at 1.75
Claim Support (Claims settled within 3 months):
Claim Support helps the potential buyer to determine how good a company is in settling the claims within the first 3 months. With this factor, one can determine how good or bad the company is when it comes to its claim settlement.
As per the Annual Report of IRDAI for the financial year 2021-22, the claim support of Magma HDI Health Insurance company is 92.34%.
Annual Premium:
The annual premium of the company helps the individual in determining the company's growth. Magma HDI has an annual premium of 1,757.17 Crores.
PAN India Presence:
The company ensures to be always present for you with their 24*7 customer care services, as well as is always ready to assist you in-person with their 130+ branches.

Magma Health Insurance Key Features

All You Need To Know About Magma HDI Health Insurance? Find complete details in one go!

Magma HDI Health Insurance Plans Claim Settlement Process Buying Process Magma HDI Health Contact Details

Types of Plans offered by Magma HDI Health Insurance

Comprehensive

Magma HDI One Health Insurance Policy

It is a comprehensive insurance policy that comes in an Individual and Family Floater option, wherein you can cover up to 4 adults and 3 children under a floater policy.

Unique Features

Covers Critical Illnesses
Covers Accidents
5 Variants

One Health Insurance Policy (Pros)

Free Health check-up
Recharge of SI
Loss of Income Benefit
Bariatric Surgery Cover
Lasik Surgery Cover

One Health Insurance Policy (Cons)

Hazardous Sports Not Covered
Substance Abuse Unavailable
Hazardous Activity not covered
10% Copay
Cosmetic Surgery unavailable

One Health Insurance Policy (Other Benefits)

Early Joining benefits
Second E-Opinion
Fitness rewards
Wellness services
Hospital Daily Cash benefit

One Health Insurance Policy (Eligibility Criteria)

Entry Age - 18 Years
Max Entry Age - 65 Years
SI - 2 L to 1 Cr
Waiting Period - 30 Days

Personal accident

Magma HDI Individual Personal Accident Policy

The policy provides coverage against unfortunate accidents & covers Accidental Death, Permanent Total Disablement, & Temporary Total Disablement.

Unique Features

3 variants to choose from
Medical Expense Extension
Hospital Confinement Allowance

Individual Personal Accident Policy (Pros)

Parents In Law Cover
Spouse Cover
Dependent Child Cover
Family Discount
Step Children Cover

Individual Personal Accident Policy (Cons)

No Alcoholism Ailment Cover
Hazardous or adventure sports
No Obesity Treatment Cover
No Cosmetic Treatment Cover
No War Injury Cover

Individual Personal Accident Policy (Other Benefits)

Easy Claim Settlement Process
Enhancement Of SI
Hospital Confinement Allowance
Medical Extension Cover
Staff Discount

Individual Personal Accident Policy (Eligibility Criteria)

Entry Age - 18 Years
Max Entry Age - 65 Years
SI - 1 L to 5 Cr
Waiting Period - 30 Days

Loan Protect

Magma HDI Loan Guard

The policy provides coverage against unfortunate accidents & covers Accidental Death, Permanent Total Disablement, & Temporary Total Disablement.

Unique Features

Lump Sum payout
Rehabilitation cost covered
Covers available

Loan Guard (Pros)

Annual Health Check-up
Day Care Treatment
Guaranteed Cumulative Bonus
Organ Donor Cover
Joint Replacement Cover

Loan Guard (Cons)

No Suicide Cover
Hazardous or adventure sports
No Obesity Treatment Cover
No Cosmetic Treatment Cover
No War Injury Cover

Loan Guard (Other Benefits)

Domiciliary Hospitalization
Second E-Opinion
Oral chemotherapy Cover
Wellness services
Ambulance Cover

Loan Guard (Eligibility Criteria)

Entry Age - 5 Years
Max Entry Age - No Upper Cap
SI - 5 L to 1 Cr
Waiting Period - 30 Days

Comprehensive

Magma HDI One Extra Cover Health Insurance Policy

Comes with 2 plan options (Platinum and Gold) and 9 optional covers. It provides for critical illness and surgeries and has death and accidental benefits.

Unique Features

AYUSH Treatment
Personal Accident Cover
Psychiatric Inpatient Cover

One Extra Cover Health Policy (Pros)

Annual Health Check-up
E-opinion for Critical Illness
Enhanced Post Hospitalization
Organ Donor Cover
Joint Replacement Cover

One Extra Cover Health Policy (Cons)

No Substance abuse cover
Hazardous or adventure sports
No External congenital anomaly
No Cosmetic Treatment Cover
Treatment not supported by prescription

One Extra Cover Health Policy (Other Benefits)

Domiciliary Hospitalization
Second E-Opinion
Non-payable expense Cover
Wellness services
Cataract Cover

One Extra Cover Health Policy (Eligibility Criteria)

Entry Age - 56 Years
Max Entry Age - No Upper Cap
SI - 3 L to 25 L
Waiting Period - 30 Days

Senior Citizen

Magma HDI One Health Senior Insurance Policy

A plan that covers in-laws and a maximum of 4 adults and 3 children. It provides coverage for many surgeries and also has death and accidental benefits.

Unique Features

AYUSH Treatment
Personal Accident Cover
HIV/AIDS Cover

One Health Senior Policy (Pros)

Annual Health Check-up
Day Care Treatment
Guaranteed Cumulative Bonus
Organ Donor Cover
Joint Replacement Cover

One Health Senior Policy (Cons)

No Alcoholism Ailment Cover
Hazardous or adventure sports
No Obesity Treatment Cover
No Cosmetic Treatment Cover
No War Injury Cover

One Health Senior Policy (Other Benefits)

Domiciliary Hospitalization
Second E-Opinion
Oral chemotherapy Cover
Wellness services
Ambulance Cover

One Health Senior Policy (Eligibility Criteria)

Entry Age - 5 Years
Max Entry Age - No Upper Cap
SI - 5 L to 1 Cr
Waiting Period - 30 Days

Specialized

Magma HDI Corona Kavach

A plan that covers COVID-19 hospitalizations with no sub-limits on room rent or tests. The cost of gloves, mask, oxygen cylinder, and nebulizer is covered.

Unique Features

ICU Cover
Room Rent Cover
Cumulative Bonus

Corona Kavach (Pros)

Ambulance charges
Day Care Treatment
Home Care treatment expenses
Hospital Daily Cash Cover
PPE Kit Cover

Corona Kavach (Cons)

No Global Cover
Hazardous or adventure sports
No Obesity Treatment Cover
No Cosmetic Treatment Cover
No War Injury Cover

Corona Kavach (Other Benefits)

Pre & Post Hospitalization
Nebulizer Cover
Oxymetre Cover
Tax Benefit
Easy Claim Settlement

Corona Kavach (Eligibility Criteria)

Entry Age - 18 Years
Max Entry Age - 65 Years
SI - 50 K to 10 L
Waiting Period - 15 Days

Comrehensive

Magma HDI Arogya Sanjeevani

It is an all-in-one plan that covers hospitalization and modern treatments. The plan also provides coverage for accidental injuries and pre-existing diseases.

Unique Features

ICU Cover
Room Rent Cover
5 % Cumulative Bonus

Arogya Sanjeevani (Pros)

AYUSH Cover
Day Care Treatment
Cataract Cover
Stem cell therapy Cover
Oral chemotherapy Cover

Arogya Sanjeevani (Cons)

No Global Cover
Hazardous or adventure sports
No Obesity Treatment Cover
No Cosmetic Treatment Cover
No War Injury Cover

Arogya Sanjeevani (Other Benefits)

Pre & Post Hospitalization
Deep Brain stimulation
Oral chemotherapy Cover
Bronchial Thermoplasty
Ambulance Cover

Arogya Sanjeevani (Eligibility Criteria)

Entry Age - 18 Years
Max Entry Age - 65 Years
SI - 50 K to 10 L
Waiting Period - 30 Days

Family

Magma HDI Saral Suraksha Bima

It is a comprehensive plan that covers the individual as well as family members. It covers accidental death, disability and accidental hospitalization.

Unique Features

ICU Cover
Room Rent Cover
Cumulative Bonus

Saral Suraksha Bima (Pros)

Education Grant
Temporary Disablement Cover
Total Disablement Cover
Hospital Daily Cash Cover
Compensation Benefit

Saral Suraksha Bima (Cons)

No Natural Death Cover
Hazardous or adventure sports
No Obesity Treatment Cover
No Cosmetic Treatment Cover
No War Injury Cover

Saral Suraksha Bima (Other Benefits)

Ambulance Cover
Spouse Cover
Child Cover
Tax Benefit
Easy Claim Settlement

Saral Suraksha Bima (Eligibility Criteria)

Entry Age - 18 Years
Max Entry Age - 75 Years
SI - 2.5 L to 1 Cr
Waiting Period - 30 Days

Comprehensive

Magma HDI Janta Personal Accident

The plan coverage for accidental death disability and accidental hospitalization. Comes in 3 options i.e Basic, Wide, and Comprehensive.

Unique Features

Hospital Confinement Allowance
Medical Expense Extension
Dependent Parent Cover

Janta Personal Accident (Pros)

Accidental Death
Temporary Disablement Cover
Total Disablement Cover
Hospital Daily Cash Cover
Compensation Benefit

Janta Personal Accident (Cons)

No Natural Death Cover
Hazardous or adventure sports
No Obesity Treatment Cover
No Cosmetic Treatment Cover
No War Injury Cover

Janta Personal Accident (Other Benefits)

Ambulance Cover
Spouse Cover
Child Cover
Tax Benefit
Easy Claim Settlement

Janta Personal Accident (Eligibility Criteria)

Entry Age - 18 Years
Max Entry Age - NA
SI - 2.5 L to 1 Cr
Waiting Period - 30 Days

Group

Magma HDI Group Health Insurance

The plan covers for Benign Brain Tumors, Alzheimer's Disease, End Stage Liver Failure.

Unique Features

First Heart Attack Cover
Open Heart Replacement
Bone Marrow Transplant Cover

Group Health Insurance (Pros)

ICU Cover
Room Rent Cover
Qualified Nurses Cover
Deafness Cover
Third Degree Burns Cover

Group Health Insurance (Cons)

No Global Cover
Hazardous or adventure sports
No Obesity Treatment Cover
No Cosmetic Treatment Cover
No War Injury Cover

Group Health Insurance (Other Benefits)

Diagnostic procedures Cover
Medical Practitioners Cover
Critical Illness Cover
Cancer of Specified Severity
Kidney Failure Cover

Group Health Insurance (Eligibility Criteria)

Entry Age - 18 Years
Max Entry Age - 65 Years
SI - 2.5 L to 1 Cr
Waiting Period - 30 Days

Group

Magma HDI Group Accident Suraksha

This plan is designed for covering Accidental Medical Expenses and disability. It acts as a Loan Protector and offers coverage for death due to an accident.

Unique Features

Adventure Sports Benefit
Funeral Benefit
Accidental Death

Group Accident Suraksha (Pros)

Funeral expenses Cover
Accidental OPD Cover
Air Ambulance Cover
Life Support Benefit
Family Transportation Allowance

Group Accident Suraksha (Cons)

No Global Cover
No Suicide Cover
No Obesity Treatment Cover
No Cosmetic Treatment Cover
No War Injury Cover

Group Accident Suraksha (Other Benefits)

Diagnostic procedures Cover
Medical Practitioners Cover
Hospital Cash Allowance
Adaptation Allowance
Renewal Benefits

Group Accident Suraksha (Eligibility Criteria)

Entry Age - 18 Years
Max Entry Age - 65 Years
SI - NA
Waiting Period - NA

Comprehensive

Magma HDI Saksham Health Insurance

The plan covers pre-existing diseases and offers coverage for modern treatments for many chronic illnesses.

Unique Features

Child Cover Uoto 17 Years
Renewal Benefit
Deep Brain Stimulation

Saksham Health Insurance (Pros)

Cataract Cover
Modern treatment
Cerebral Palsy Cover
Speech and Language disability
AYUSH Cover

Saksham Health Insurance (Cons)

No Anti-Retroviral Treatment
No Suicide Cover
No Obesity Treatment Cover
No Type2 Diabetes Cover
No Sleep Apnea Cover

Saksham Health Insurance (Other Benefits)

Emergency Ground Ambulance
Hernia Cover
Hospital Cash Allowance
ICU Cover
Pre & Post Hospitalization

Saksham Health Insurance (Eligibility Criteria)

Entry Age - 18 Years
Max Entry Age - 65 Years
SI - 4 LTo 5 L
Waiting Period - NA

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Know More About Health Insurance Companies

Benefits of Magma Health Insurance

Wide Range of Plans:
Magma Health Insurance company has designed individual health insurance, family floater plans, critical illness coverage, and group health insurance plans to fulfil different needs of their customer that fits into their budget.
Comprehensive Coverage:
The company covers various medical expenses, that include hospitalisation expenses, diagnostic tests, surgical procedures, ambulance services and many more. Some plans may even cover maternity expenses, pre and post-hospitalization expenses, daycare procedures, and alternative/modern treatments.
Cashless Treatment:
The company has more than 8500+ network hospitals that allow policyholders to avail of cashless treatment. This facility eliminates the need to pay the bill upfront.
No Claim Bonus:
Magma Health Insurance offers a no-claim bonus for every claim-free year, this bonus will be added to the SI or premium discounts. This encourages individuals to maintain a healthy lifestyle.
Pre-existing Condition Coverage:
Depending on the specific plan and terms, Magma Health Insurance may provide coverage for pre-existing medical conditions after a waiting period. This enables policyholders to receive necessary medical treatment.
Easy Claim Process:
The company has orchestrated a hassle-free claim settlement process. Customers can raise their claims online by submitting the necessary documents.

What Is Covered Under Magma HDI Health Insurance Plans?

Among the many benefits covered by Magma health insurance policies, the following are a few that are frequently provided:

New Born Baby Cover
Maternity Cover
Critical Illness Cover
Hospitalization Cover
Pre Hospitalization
Post Hospitalization
Modern Treatment Cover
AYUSH Cover

In Patient Cover
Room Rent Cover
Domiciliary Cover
Ambulance Cover
Lifetime Renewability
Second Medical Opinion
Out-Patient Cover
Wellness Benefit

What Is Not Covered Under Magma HDI Health Insurance Plans?

Any Magma HDI Health Insurance policy does not cover any of the conditions arising out of or related to:

Substance abuse, such as alcohol or drugs
Hazardous or adventure sports
External congenital anomaly
Cosmetic treatment
Treatment not supported by prescription
War, Civil War, invasion, the act of foreign enemies, revolution

How To Buy Magma HDI Health Insurance?

Buying Magma HDI Health Insurance plans online is one of the easiest ways. Just follow the below steps, and get your healthcare needs secured in a few minutes:

Visit the official website of Magma HDI
On the home page, click on the 'Buy Now' option.
Select the plan you want to buy.
Fill up your details such as your name, contact number, age, sum insured you want to opt, etc.
Once you have filled the form, click on the continue tab.
The next page will show you the premium amount you need to pay.
Pay the amount online, and your policy details will be sent to you via email.

How to Renew Magma Health Insurance Policy?

For policy renewal of Magma HDI Health Insurance, the policyholder has to call customer care. The company will assign you an executive and they will walk you through the process of renewal. Submit the necessary documentation and information and then make payment. Post this, the policy will be renewed.

What Is The Claim Settlement Process Of Magma HDI Health Insurance Company?

The company allows its customers to avail themselves of both cashless facilities in their network hospitals, as well as reimburses the amount in case of an emergency where the patient is treated in the non-network hospital. You can avail of the cashless facility at any of the Network hospitals of the company or claim reimbursement.

Let's have a brief look at how both claim settlement processes work:

For Cashless Claim

When you get admitted to any of the network hospitals of the company, you are eligible to avail of a cashless facility.
Intimate the company about the hospitalization.
Show your health card and other identity documents to the hospital's help desk.
They will then give you a claim form, which you need to fill, and then return it to them.
The hospital will send the documents to the company, and if approved, the company will settle your bills and other treatment costs with the company.

For Reimbursement Claim

In case of any emergency, when you are not able to get admitted into the network hospital, you can avail reimbursement of your treatment costs.
Upon the happening of an accident and/or injury notify the company through call or in writing.
Avail of the treatment, pay all your bills and treatment expenses.
After getting discharged from the hospital, fill out the form for reimbursement claim with all the necessary documentation.
After reviewing your claim form, if satisfied, the company will reimburse the claim within one month from the date of submission of all the relevant documents.

Contact Details Of Magma HDI Health Insurance

Office no. 516 and 517,5th floor, Neelkanth Corporate Park,Plot no. 240, 2401/1-8, Kirol Road,Vidyavihar (West), Mumbai, Maharashtra - 400086

customercare@magma-hdi.co.in

1800 266 3202 (Available 24*7)

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Magma HDI Health Insurance: FAQs

1. Does Magma HDI Health Insurance offer any discounts on their policy?

Yes, the plan offers a discount if the policyholder has opted for a multi-year policy. Discount for 2-year tenure policy: 10%, and for 3-year tenure policy: 12.5%.

2. What are Early Joining benefits?

If an individual buys a policy before the age of 40 and renews it continuously, and there is no claim, then the company offers an additional benefit amount. For example:

Additional Rs. 2,500 in 6th Policy year, (i.e. 5 claim-free policy years)
Additional Rs. 5,000 in 11th Policy year (i.e. 10 claim-free policy years)

3. How can I renew my Magma HDI Health Insurance Policy?

The company offers a very simple and easy renewal process.

Visit the official website, and click on the Renewal option.
Fill in your policy number and other details.
Pay the premium, and get the details of your renewed policy on your registered email address.

4. What to do if I am not satisfied with the plans or services offered by the company?

No worries. The company will promptly and effectively address your grievances. If you are still not satisfied with the solution then you may approach the Insurance Ombudsman located nearest to you.

5. Will my Health Insurance policy cover COVID-related claims?

Yes, as per the new guidelines of IRDAI, every health insurance plan will offer coverage against COVID-19 claims.

6. What are the waiting periods under Magma HDI Health Insurance plans?

The waiting periods for Magma HDI Health Insurance plans are as follows:

Initial Waiting Period - 30 days
Specific Diseases - 2 years/ 4 years
Pre-existing Diseases - 3 years/ 4 years
Waiting Period for Critical Illness - 90 days
Waiting Period for COVID-19 - 15 days

7. What is the maximum number of family members who can be covered under the Magma Health Insurance plans?

The Magma Health Insurance policies can cover up to four adults and three children.

8. Where I can calculate the premium of Magma HDI Health Insurance?

Magma HDI Health Insurance premium calculator is available on the official website of the company or you can also calculate the premium from the official website of PolicyX.com.

9. Are there any sub-limits on Magma HDI Health Insurance plans?

Yes, Some Magma HDI Health Insurance plans come with a sub-limit on certain covers.

10. How many network hospitals are under the Magma HDI Health Insurance?

Magma HDI health insurance hospital list has more than 4,300 network hospitals that provide cashless hospitalization to the policyholders.

11. Does Magma HDI Health Insurance company offer any mobile app for easy access?

Yes, the company has a mobile app named Magma HDI App , that you can download to avail of the following:

Intimate and track claims
Avail wellness services
Download forms
Search hospitals for cashless facilities, and more

12. How do I download an insurance copy of Magma HDI?

Visit the official website of Magma HDI General Insurance and log in using your credentials.
Once you are logged in, you can generate a request for a copy of the insurance policy.

13. Does Magma HDI Health offer any special service for senior citizens?

Yes, the company has a separate customer care team to assist with the issues of senior citizens. One can send a mail to Namaskar@magma-hdi.co.in to get their queries resolved.

14. What are the documents required for the settlement of the claim?

You need to submit the below-mentioned details to file a claim:

Duly filled claim form
Certificate from the physician
Medicine prescriptions
Medical bills
Diagnosis reports such as x-ray scan, ECG, etc.
Details of the discharge
Final receipts from the hospital

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