6 min read
Updated on Feb 02, 2023
Magma HDI Health Insurance is a part of the Magma HDI General Insurance Company which offers several health policies to protect people with complete medical needs and coverage against numerous unforeseen costs related to health. Both individual and family floater plans are available under Magma HDI Health plans that serve the public with lifetime coverage against varied health needs including hospitalization costs.
Magma HDI General Insurance Company is established as a collaboration between Magma Fincorp Limited and HDI Global SE Germany. While Magma Fincorp is a renowned NBFC in India, HDI Global SE is a branch of multi-brand corporation named Talanx Group, which has presence in more than 150 countries across the globe.
The Magma HDI general insurance company offer a variety of insurance related products including commercial and retail insurance. The company has over 50 products in different categories such as:
They have presence over pan India with 135+ corporate offices across numerous Indian cities.
Magma HDI Health Insurance, the company offers:
In FY 2019-20, Magma HDI health insurance registered claim settlement ratio of 95.17%.
|Network Hospitals Available||4300+|
|Waiting Period (Pre-existing Ailments)||3 or 4 years|
|Claims Settlement Ratio||95.17%|
* Year Data 2020-21
Below are few of the best benefits of availing Magma Health Insurance Plans.
Here are some of the top Magma Health Insurance Plans:
This is a all-inclusive health plan available under five variants, and cover your complete family against health emergencies. The plan comes in five variants – Support, Secure, Support Plus, Shield and Premium.
This is another comprehensive plan that cover against health emergencies coming out of accidents. Along with protection against cost of treatment, it also provides reimbursement for death/disability due to accidents. The plan is available in three variants, namely, Basic plan, Wider plan and Comprehensive plan.
Below steps can be followed to purchase Magma HDI health insurance policy online:
Below are the steps to be followed for Magma HDI Health Insurance renewal:
Below are the steps to follow for filing a Magma HDI Health Insurance claim:
For Cashless Claim
For Reimbursement claim
The ratio of claims that are settled by an insurer during a policy year as against the complete claims that the insurer receives during the year is called Claim Settlement Ratio.
The Magma HDI claim settlement ratio for health insurance for the financial year 2020-21 was 95.17%.
|Financial Year||Claim Settlement Ratio|
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Magma HDI Health Insurance is a part of the Magma HDI General Insurance Company which offers several health policies to protect people with complete medical needs and coverage against numerous unforeseen costs related to health. Both individual and family floater plans are available under Magma HDI Health plans that serve public with lifetime coverage against varied health needs including hospitalization costs.
# The plans cover out-patient medical cost protection.
# Free health check-up facility
# They also have a range of wellness programs under their medical insurance plans
# The plans offer medical coverage against unforeseen costs due to diseases and accidental injury.
# The health plans provide coverage for individuals and families including kids and elderly.
# The Magma HDI health insurance provide option of range of Sum Insured to allow insured to opt for a suitable plan as per needs and budget.
# The plans offer cashless hospitalization option at over 4300 hospitals in their network.
# They offer 24x7 customer support for claim settlement.
# 10% discounts on long-term policies are also available.
# The policies allow tax deduction facility to policyholders.
Yes, most Magma HDI health plans allow portability features within the company from one plan to another. You need to approach the company to avail this feature.
Below are the steps for Cashless Claim:
# Inform the insurer by calling at 1800 266 3202.
# For planned hospitalization, inform insurer 48 hours prior to getting admitted.
# For emergency treatment, inform insurer within 24 hours of getting admitted.
# At the hospital, ask for a pre-authorization form.
# Fill in the form and submit.
# The hospital will share the papers with the insurer and they will verify them.
# Once the insurer verifies the documents, they can approve or deny the claim depending on verification process.
# The insurer will confirm the status of the claim to the insured.
# In case approved, the insure settles the claim with the hospital.
The company has over 50 products in different categories such as:
1. health insurance
2. motor insurance
3. marine insurance
4. Fire insurance,
5. Householder’s insurance, and
6. Burglary insurance etc.
Below are the steps:
> Go to the website of Magma HDI Insurance.
> Click on ‘Renew’ on the home page.
> Submit policy details. Now, click on the tab ‘Renew’.
> Choose the quote that suits you aptly.
> Make the payment online.
Policyholders of Magma HDI can claim for health insurance via cashless treatment claim or via reimbursement claim option
# Duly filled and signed claim form
# Doctor's prescription and original receipts
# Summary of discharge given by the hospital
# Original copy of final hospital bill, medical bill
# Report of medical investigation by attending doctor
# Other bills required to claim ambulance charges
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