Magma offers two types of claim settlements – cashless and reimbursement. Follow the steps to raise a claim:
- Find the nearest network hospital of Magma
- Get admitted to the hospital
- Notify the insurance company about the hospitalization
- In case of pre-planned hospitalization, intimate the insurer before hospital admission.
- Fill up the pre-authorization form and submit it to the hospital staff
- The pre-authorization form will be sent to Magma for approval.
- Once approved, obtain medical treatment.
- At the time of discharge, sign all the medical documents.
- Pay for the items/services not covered under the Magma policy
- The network hospital will send the hospital bill to Magma.
- After review, the insurance company will pay the bill amount directly to the network hospital.
- Intimate Magma about the hospitalization
- In case of planned hospitalization, inform the insurance provider before hospital admission.
- Obtain medical treatment
- During discharge, pay the hospital bill in full.
- Collect all the medical documents, hospital bills and receipts
Our Claim specialists in below cities will reach your hospital or home in 30 minutes to support your health insurance claim
About Magma Health Insurance
Magma Health Insurance is the health insurance segment of the Magma General Insurance Company Limited. The company was formed as a joint venture between India’s Magma Fincorp Limited (better known as Poonawalla Fincorp Limited) and Germany’s HDI Global SE. These plans provide medical coverage against a variety of unforeseen medical expenses to individuals, families and senior citizens.
The Magma General Insurance Company offers swift claim assistance as they promise to settle claims within 30 days. Besides, the company has earned an incurred claim ratio of 66.42% in FY 2021-22.
Types of Magma Insurance Plans
Magma OneHealth Insurance is a comprehensive health insurance plan that provides coverage to the entire family against medical emergencies. It is available for a sum insured ranging from Rs 2 lakh to Rs 1 crore. The plan comes with five variants – Support, Secure, Support Plus, Shield and Premium.
Features and Benefits:
- Coverage for hospitalization expenses, including pre and post-hospitalization costs, are available
- Psychiatric treatment, maternity expenses, IVF treatment and HIV/AIDS are covered
- OPD cover, convalescence benefit, loss of income benefit and companion benefit are available
- Annual health check-up facility and cumulative bonus are available
- Sum insured recharge facility is available for a maximum of five times in a year
- Optional covers, such as critical illness cover, personal accident cover and voluntary co-payment, are also available
- Early joining benefits for applicants less than 40 years old
- No maximum entry age
The Magma OneHealth Senior Insurance plan has been designed to cover the medical expenses of people above 55 years of age. The plan comes with a sum insured ranging from Rs 3 lakh to Rs 25 lakh and is available in two types – Platinum and Gold.
Features and Benefits:
- In-patient hospitalization, modern treatments and AYUSH treatments are covered
- E-opinion for critical illness and shared daily room cash are available
- Ambulance charges and domiciliary hospitalization are covered
- Annual preventive health check-up is available
- 10% cumulative bonus for up to 100% is available for every claim-free year
- OPD cover, home nursing and non-payable expenses cover are available as add-on covers
- 100% recharge of the sum insured benefit is available as an add-on
- PED waiting period of only 1 year is available
- No maximum entry age
Magma OneHealth Extra Cover is a super top-up insurance plan that offers financial support to the insured after the base policy is exhausted. The plan comes with deductibles ranging from Rs 2 lakh to Rs 20 lakh.
Features and Benefits:
- Hospitalization expenses, domiciliary hospitalization and AYUSH treatments are covered
- Psychiatric treatment cover and HIV/AIDS cover are available
- 100% recharge of the sum insured is available once in a policy year
- Guaranteed cumulative bonus and reduction of PED waiting period available as add-on covers
- Option to include personal accident cover, worldwide hospitalization cover and non-payable expenses as an add-on
- No room rent limit
- No maximum entry age
The Magma Personal Accident Insurance plan provides comprehensive coverage against medical emergencies arising out of a road accident. The plan comes in three variants – Basic, Wider and Comprehensive.
Features and Benefits:
- Coverage for accidental death and permanent total/partial disability are available
- Ambulance charges, transportation costs and the cost of damaged clothing are covered
- Education fund is also available
- The plan comes with worldwide accidental coverage.
- Medical expenses extension and hospital confinement allowance are available under the Comprehensive variant as add-on covers
The Magma Loan Guard plan provides financial support to the insured to pay off the debts in case of unforeseen events like an accident or diagnosis of a critical illness.
Features & Benefits:
- Coverage for up to 60 critical illnesses and 23 infectious diseases are available
- Both accidental death and permanent total disablement are covered
- Permanent total disablement, funeral cover and emergency road ambulance are available as add-ons under PA cover
- Education benefit and double benefit are also available as add-ons under PA cover
- EMI cover is available along with the option to add the maternity EMI cover
- Hospicash benefit, loss of job, business interruption and fire & allied perils are also available
- Second e-opinion for critical illness is applicable
The Magma Individual Loan Protect plan takes care of the loan amount of the insured in case he/she suffers from unforeseen situations like critical illnesses and accidents. The plan is divided into four types – one star, two stars, three stars and four stars – depending on the number of critical illnesses covered.
Features & Benefits:
- Coverage for up to 18 critical illnesses and procedures
- Accidental death and permanent total disablement are also covered
- Loss of job and fire & allied perils cover are also available
- Business interruption due to insured perils is also covered
- Second opinion cover is available as an optional cover under the critical illness cover
- Earthquake and terrorism damages are available as optional covers under fire & allied perils cover
- A survival period of 90 days applies to critical illness cover
The Magma Personal Accident Insurance plan provides comprehensive coverage against medical emergencies arising out of a road accident. The plan comes in three variants – Basic, Wider and Comprehensive.
Features & Benefits:
- Hospitalization expenses, including pre-hospitalization and post-hospitalization expenses, are covered
- Coverage for modern treatments are available
- Cost of day care treatments, AYUSH treatment and cataract treatments are available
- 5% cumulative bonus for up to 50% is granted for every claim-free year
- 5% co-payment is applicable on all claims
Key Benefits of Magma Health Insurance Plans
or select from popular citiess In case of emergency we are just a call away. Take care of your family, we will do the rest. Our claim specialists will reach your location & complete the formalties from filing the claim to documentation to coordinating with insurer, TPA & hospital. Available in New Delhi and 114+ cities View cities list ›Search Magma Cashless Network Hospital list
Policybazaar Claim Process
Here is the list of documents required to file a Magma health insurance claim:
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Claim FormDuly filled out Magma health insurance claim form
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Health Card/Policy CopyHealth card or a copy of health insurance policy
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Medical DocumentsHospital discharge card, doctor’s prescriptions, test reports, death summary, etc.
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Medical Bills & Payment ReceiptsMedical test and investigation reports with payment receipts, Surgeon's bills and payment receipts
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Post-hospitalization Medical ExpensesIt covers the medical expenses incurred up to 180 days after getting discharged from the hospital.
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KYC DocumentsKYC documents, such as an Aadhaar card, passport, etc.
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Legal DocumentsMLC/ FIR copy (in case of accidents)
Note: The exact list of claim documents varies from case to case. Contact the customer support team for the complete list.
The process to buy a Magma Health Insurance plan is given below:
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Visit the Health Insurance SectionGo to the ‘Health insurance’ section on Policybazaar.com
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Fill in Personal DetailsProvide necessary details like age, mobile number, city, medical history, gender, etc.
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Pay the Premium OnlineChoose your preferred Magma health insurance policy and pay the premium online
The process to renew a Magma Health Insurance plan is given below:
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Go to the Renewal SectionNavigate to the ‘Renew Your Policy’ tab on Policybazaar.com and select ‘Health Renewal’
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Verify Your IdentityEnter your registered mobile number and the OTP sent to your device
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Pay the Renewal Premium OnlineSelect the Magma health insurance policy you want to renew and pay the premium online
Take a look at the Magma Health Insurance contact number below:
| Categories | Contact Details |
|---|---|
| Toll-free No | 1800-266-3202 |
| Whatsapp No. | +91 7208976789 |
| Customer Care Email ID | customercare@magmainsurance.com namaskar@magma-hdi.co.in (for senior citizens) |
Magma Health Insurance: FAQs
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Q1. What is not covered under Magma Health Insurance plans?
Ans: The Magma Health Insurance plans do not cover medical expenses arising out of self-inflicted injuries, alcohol addiction or drug abuse, vaccination costs, unproven treatments, sterility treatments and cosmetic/plastic surgery amongst others. You can check the complete list of exclusions by going through the policy wordings of the various health insurance plans.
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Q2. Where can I get Magma health insurance hospital list?
Ans: You can check the list of network hospitals empanelled with Magma General Insurance Company in your policy document. You can also visit Policybazaar.com to get the Magma health insurance hospital list for different cities in India.
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Q3. What is Magma health insurance claim settlement ratio?
Ans: The Magma health insurance claim settlement ratio is 95.84% in the year 2021-22.
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Q. What is the advantage of selecting a policy with a duration of more than 1 year?
Ans: If one buys Aditya Birla Health Insurance for more than a year, one can save 7.5 % and 10% on the 2 and 3 years premium, respectively.
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Q. How is an Individual cover different from a Floater cover?
Ans: In an Individual cover, coverage is offered to each individual in the family separately. In a Family Floater health insurance plan, each family member is covered based on a floater sum insured.
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Q. How is an Individual cover different from a Floater cover?
Ans: In an Individual cover, coverage is offered to each individual in the family separately. In a Family Floater health insurance plan, each family member is covered based on a floater sum insured.
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Q. What is a waiver of a mandatory co-pay cover?
Ans: This benefit is covered on payment of an additional premium. Therefore, any mandatory co-payment that is applicable under the Aditya Birla Activ Health Essential Plan will be waived off.
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