Is Magma HDI Health Insurance Good?
Updated On Aug 21, 2022
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Magma HDI General Insurance Company Limited is a partnership between one of India's largest NBFCs, Magma Fincorp Limited, and HDI Global SE Germany, which is part of the Talanx Group, a multinational company with offices in over 150 countries.
Magma HDI has many different types of health insurance, such as individual health insurance, family health insurance, personal accident protection, group health cover, etc. In addition to health insurance coverage, Magma HDI provides additional advantages such as outpatient cover (OPD cover), a facility for health checkups, wellness programs, etc. During the 2019–20 fiscal year, Magma HDI recorded a remarkable 95.17% health claim settlement rate.
All About Magma HDI General Insurance
Magma HDI General Insurance Company offers many types of insurance to its customers, such as health insurance, auto insurance, homeowner's insurance, burglary insurance, marine insurance, and fire insurance. The company also has a big presence all over the country because it has more than 130 locations.
The insurance firm has garnered many honours for its performance throughout the year. Among them is Rising Star Company of the Year at the India Insurance Awards in 2020, the BFSI Excellence Awards in 2020, and the Best BFSI Brands in 2019.
Why Select Magma HDI Health Insurance?
Magma HDI Health Insurance provides a variety of services to its clients. Several examples are as follows:
- High Claim Settlement Ratio: The claims settlement ratio is the number of claims an insurance company settles compared to the total number of claims. Claim percent The claims settlement ratio is the number of claims an insurance company settled out of the total number of claims it received in a given fiscal year. in a given fiscal year. During the 2018-2019 fiscal year, Magma HDI Health Insurance had an exceptional claim settlement ratio of 95.17 percent. The claims settlement ratio is the number of claims an insurance company settled out of the total number of claims it got in a given fiscal year. The higher the CSR, the better.
- With Magma HDI Health Insurance, it's easy and quick to settle a cashless claim because the cashless hospital network is so big. The insurance company works with more than 4,300 hospitals so that policyholders can get care without having to pay out of pocket. With Magma HDI Health Insurance, it's easy and quick to settle a cashless claim because the cashless hospital network is so big
- 24*7 Claim Assistance Magma HDI Health Insurance provides its clients with round-the-clock, 24*7 customer support. Thus, you may contact the insurer at any time with questions or concerns.
- Availability of Add-on Covers Magma HDI Health Insurance provides add-on covers, such as coverage for critical illnesses and accidents, to help you expand the coverage of your health insurance plans.
Advantages of Magma HDI Health Insurance
The Magma HDI Health Insurance Plans provide the following primary health insurance benefits:
- Free Yearly Health Exam - Magma HDI Health Insurance offers all adult insureds, regardless of claims, a free annual health exam.
- Restoration of Sum Insured: Magma HDI Health Insurance provides the restoration of the policy's sum insured. So, the health insurance plan's sum insured amount goes back up after the base sum insured level is used up during the policy year. This prepares you for unexpected medical situations.
- Worldwide Emergency Coverage: Under this plan, Magma HD Health Insurance would cover the policyholder's medical expenses incurred outside India.
- Easy Policy Transfer: Magma HDI Health Insurance permits customers to transfer their current health insurance policy from another insurer or an existing product offered by them.
Health insurance has become a necessity today considering the rising medical cost in the country and vulnerability of contracting diseases. The health insurance solutions offered by Magma HDI General Insurance serves as a guide light for this necessity as the plans are not only highly comprehensive but also customisable. We hope, this article, helped you get all the required information about Magma HDI health insurance plans.