Magma HDI Health Insurance

Health insurance is an insurance cover that pays for a policy holder’s medical expenses either completely or partially, depending upon the type of insurance cover opted for. Apart from that health insurances also help in making quality healthcare accessible to a large section of the society. Adding to that an individual also gets to save money on taxes as a person gets tax rebate on the premiums paid under Sec 80D of Income Tax Act 1961.

There are a number of health insurances being offered by both Government agencies and private insurance companies in India. These health insurances come in all size and shapes, so you are bound to find one health insurance that perfectly suits your needs and requirements. Although, there is a plethora of health insurances available, one health insurance named Magma HDI Health Insurance is rapidly gaining attention owing to its competitively priced health plan, excellent customer service and fast and easy claim settlement.

Magma HDI Health Insurance Review

Magma HDI Health Insurance is making all the right moves and is on track to become one of the most preferred health insurance in India.

Magma HDI Health Insurance is offered by the Magma HDI General Insurance Company Limited. This company is a joint venture between India’s Magma Fincorp and Germany’s HDI Global SE. The company has recently launched Magma Hdi Health Insurance, prior to that it was limited to general insurance and car insurance.

The Magma HDI Health Insurance current portfolio does not have an awful lot of health insurance plans to offers. It has rather only a few health insurance plans to offer but, that is in fact working to its benefit as the company’s approach is more focussed with these limited set of health insurance, thereby, making them more comprehensive and customer centric and is resulting in a more advanced support and services for the policy holders.

The different health plans offered by Magma HDI Health Insurance are as follows;

  • Individual Personal Accident Policy
  • One Health Support
  • One Health  Support Plus
  • One Health Shield
  • One Health Premium
  • Magma HDI Mediclaim Policy

Key features of Magma HDI Health Insurance

Some of the key features of Magma HDI Health Insurance are as follows;

  • Magma HDI Health Insurance offers annual health checkups to its policy holders
  • Magma HDI Health Insurance comes with additional value added services like, Doctor on phone call, e-Specialist’s consultation, Nutritional counseling on phone and other Health related offers among others.
  • Magma HDI Health Insurance is also offering early joining benefits to new customers.
  • Magma HDI Health Insurance also has no mandatory co pay option.
  • Magma HDI Health Insurance  provides Green channel benefit
  • Policy holders are also receive Hospi cash and Enhanced Daily Cash benefit
  • Magma HDI Health Insurance provides loss of income benefit
  • It also covers domiciliary treatment
  • Policy holders are also provided with companion benefit
  • Magma HDI Health Insurance provides OPD coverage
  • There is also Convalescence benefit offered by Magma HDI Health Insurance
  • Another unique feature of Magma HDI Health Insurance  is its Worldwide emergency coverage
  • Magma HDI Health Insurance also offers Air Ambulance coverage

Magma HDI Health Insurance policy renewal

Staying with the changing times Magma HDI Health Insurance offers online renewal of its policy along with the traditional offline methods. Policy holders are also provided the facility to enhance their sum insured at the time renewal. Magma HDI Health Insurance also offers a 30 day grace period for the renewal of the policy. However, in this grace period there would be no policy coverage.

Incurred claim ratio of Magma HDI Health Insurance

The incurred claim ratio is defined by the IRDA, and is basically a ratio of the number of claims settled by a company as against the number of claims received in a year. The incurred claim ratio of Magma HDI Health Insurance is a whopping 181.20%, which just goes on to show how smooth and easy the claim procedure is with Magma HDI Health Insurance.

Magma HDI Health Insurance hospital list

Magma HDI Health Insurance has reasonable number of tie – ups with hospitals located in different parts of the country offering cashless treatment.  Besides that Magma HDI Health Insurance also has Preferred Partner network of hospitals for the policy holder to choose from. For the entire list of network hospitals please refer to the website where a network hospital locator tool will help you get the list of hospitals associated with Magma HDI Health Insurance.

Magma HDI Health Insurance claim procedure

The claim process at Magma HDI Health Insurance is fairly simple and below is the varied steps involved with filing a claim with Magma HDI Health Insurance;

  • Inform Magma HDI immediately in cases of accidents or other medical incidents
  • In case of death, the nominee needs to submit a written notice before cremation.
  • In case of loss of sight, limbs and so on, notice must be given within one month.
  • Some of the documents needed to be submitted are, Claim form, Death certificate, Medical certificate, Evidence of disablement, Doctor’s reports and Bills and receipts
  • Once this is submitted, Magma HDI will verify it.
  • If the claim is approved then the claim will be settled within one month of claim filed.

Magma HDI Health Insurance is a fairly new health insurance provider and yet has managed to garner much positive reviews owing to its remarkable service and high commitment towards the policy holder. The Magma HDI Health Insurance with its unique factors is sure to gain a remarkable market share in the Indian health insurance industry and become one of the leading health insurance provider in the country.