Magma HDI Health Insurance

Magma HDI General Insurance Company Limited is a joint venture between Magma Fincorp Limited, one of India’s major NBFCs, and HDI Global SE Germany, which is part of the Talanx Group, a multi-brand conglomerate with a presence in over 150 countries.

Magma HDI provides a variety of innovative retail and business general insurance solutions. The insurance firm offers 50 products in several categories such as health insurance, auto insurance, marine insurance, fire insurance, and so on. The firm also has a pan-India presence, with over 135 offices in various locations.

While medical improvements and health consciousness have gained traction, adversity may still knock at our door at any time. This is where health insurance comes in.

Magma HDI Health Insurance Policy

Magma HDI offers a range of health insurance policies, such as individual health insurance, family health insurance, personal accident protection, group health cover, and so on. Along with health insurance policies, Magma HDI provides advantages such as out-patient coverage (OPD coverage), a facility for health check-ups, Wellness Programs, and so on. In the fiscal year 2019-20, Magma HDI achieved an excellent 95.17 percent health claim settlement rate.

Some Magma HDI Health Insurance Policies

OneHealth

Magma HDI’s OneHealth is a complete health insurance solution for you and your family. It not only covers financial obligations resulting from disease, but it also rewards fitness.

This plan also includes optional coverages such as Personal Accident, Critical Illness, and so on.

Group Accident Suraksha

Like Group Health, this policy is meant to provide complete health coverage to members of a group, most typically an employer-employee connection. Corporates can purchase Group Accident Suraksha, which protects individual employees against accidental death, permanent disability, partial disability, and total temporary disability.

The benefits may differ based on the level of coverage chosen by the group policyholder.

Group Health Insurance

Group health insurance was created to provide complete health care to members of a certain group, the most frequent being the coverage provided by companies to their employees and their families.

Individual Personal Accident

Accidents are defined as unforeseen events. Any such uncertainty might lead to a financial disaster, which is why Individual Personal Accident Insurance is essential. It offers financial support in the event of accidental death, physical injury, or disability. Hospital Confinement Allowance and Medical Expense Coverage are two further rider perks.

Loan Guard

Our Loan Guard Insurance insurance provides a lump-sum payment in the event of an accident or a serious illness, allowing you to pay off your obligations while also covering additional expenses such as treatment costs, rehabilitation, and so on.

Why choose Magma HDI Health Insurance?

Magma HDI Health Insurance provides a variety of services to its consumers. Here are a few examples:

• High Claims Settlement Ratio – In the fiscal year 2018-19, Magma HDI Health Insurance had an exceptional health claims settlement ratio of 95.17 percent. The claims settlement ratio is the percentage of claims settled by an insurer out of all claims received in a fiscal year.
• 24/7 Claim Assistance – Magma HDI Health Insurance provides its clients with round-the-clock 247 customer support. As a result, you may contact the insurer anytime you have a question or an issue.
• Add-on Coverage – Magma HDI Health Insurance provides add-on covers such as critical sickness, accidents, and so on to assist you to expand the coverage of your health insurance plans.
• More than 4,300 cashless hospitals – The insurance has affiliations with over 4,300 facilities in its network, where policyholders may simply obtain cashless care. The extensive cashless hospital network assures quick and easy cashless claim settlement with Magma HDI Health Insurance.

Benefits of Magma HDI Health Insurance Plans

The following are the primary health insurance benefits provided by Magma HDI Health Insurance Plans:

• Free Yearly Health Screening – All adult insured people, regardless of claims, are entitled to a free annual health check-up under Magma HDI Health Insurance.
• Benefits of Portability – Magma HDI Health Insurance allows consumers to transfer their current health insurance policy from another insurer or from a product offered by them.
• Restoration of Sum Insured – Magma HDI Health Insurance provides the option of restoring the policy’s Sum Insured. Thus, when the basic sum insured level is depleted throughout the policy year, the sum insured amount of the health insurance plan is restored.
• Worldwide Emergency Plan – Under this cover, Magma HD Health Insurance would pay for medical expenses incurred by the insured outside of India.

Benefits of Buying Online Health Insurance

• It’s never been easier to compare insurance plans.
• By conducting extensive web research, you may seek consistency in services and claim settlements.
• Depending on your life stage, you can select from a variety of plans.

Terms and conditions of Magma HDI Health Insurance Policy

The definitions of health insurance policy words linked to policy benefits and features supplied by the Magma HDI Health Insurance Company are as follows. However, the terms of these products may differ from one plan to the next:

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Youngsters:

• Decide on a policy early in life.
• Choose a suitable sum covered while keeping future health demands in mind.
• Look for fitness advantages.

Families:

• Insure everyone in your family, from adults to newborns.
• Treatments for old-age illnesses should also be included.

Older people:

• With a top-up plan, try to raise the Sum Insured.
• Check for any pre-existing condition waiting periods.
• Make certain that you are well-versed in the insurance claims procedure and services.

Magma HDI Insurance claim procedure

The following is the procedure for submitting a claim to Magma HDI:

• Whether an event or accident occurs, you must promptly notify Magma HDI if you are entitled to submit a claim under this policy.
• This can be accomplished by contacting customer service or writing to the policy-issuing agency.
• If there is a death, the nominee must provide written notification before cremation or interment, unless justifiable reasons can be demonstrated. In any instance, the notification must be delivered within one month of the death.
• Notice of loss of sight, limbs, or other bodily functions must be given within one month.
• The following documents must be submitted:
  • Death certificate claim form
  • Certificate of Medical Fitness
  • Evidence of disability
  • Medical reports
  • Receipts and bills
  • In the event of a temporary disability, the employer will provide a leaving certificate.
  • Any additional important documents that may be required
• Magma HDI will process and validate the paperwork and case after this is provided.
• The claim will be satisfied within one month of the receipt of all paperwork.