Magma Arogya Sanjeevani Policy: Buy/Renew Policy Online

Magma Arogya Sanjeevani Policy

A Magma Arogya Sanjeevani policy is a standard medical insurance policy that provides medical coverage to individuals and families at affordable premiums. It covers the insured for the cost of hospitalization, ambulance services, AYUSH treatment and modern treatments. The policy also offers benefits, such as cataract treatment cover and a cumulative bonus.

Categories	Specifications
Sum Insured	Rs 50,000 to Rs 10 lakh
Policy Tenure	1 year
Network Hospitals	7200+
Incurred Claim Ratio (2020-21)	62.70%
Pre-existing Diseases Waiting Period	4 years
Initial Waiting Period	30 days
Specific Illness Waiting Period	2 years/ 4 years
Co-payment	5% on all claims

Benefits of Magma Arogya Sanjeevani Policy

Here are the key benefits of buying a Magma Arogya Sanjeevani policy:

1. Cumulative Bonus

A cumulative bonus of 5% will be granted on each claim-free year for up to a maximum of 50% of the sum insured. This bonus increases the sum insured without increasing the premium amount.

2. Cashless Treatment

Policyholders can avail cashless treatment facilities at more than 7200 network hospitals of the Magma General Insurance Company spread across India.

3. Tax Benefits

Tax deductions can be availed on the premium paid for the Magma Arogya Sanjeevani policy under the Income Tax Act, Section 80D.

Magma Arogya Sanjeevani Policy Eligibility Criteria

Take a look at the eligibility criteria for buying a Magma Arogya Sanjeevani policy:

Parameters	Eligibility Criteria
Minimum Entry Age	Adult - 18 years Child – 90 days
Maximum Entry Age	Adult - 65 years Child – 25 years
Coverage Type	Individual/ family floater
No. of Relationships	7 (4 adults and 3 children)
Relationships Covered	Self, spouse, parents, parents-in-law and dependent children
Renewability	Lifetime

Inclusions of Magma Arogya Sanjeevani Policy

The following coverage is included under the Magma Arogya Sanjeevani policy:

In-patient Hospitalization – It covers the expenses incurred during hospitalization of at least 24 hours, including ICU charges, room rent, doctor’s fees, etc.
Pre-hospitalization Expenses – It covers the medical expenses incurred for up to 30 days before hospitalization.
Post-hospitalization Expenses – It covers the medical expenses incurred for up to 60 days after hospital discharge.
AYUSH Treatment – It covers the cost of in-patient treatment taken under Ayurveda, Unani, Yoga, Siddha, Naturopathy and Homeopathy systems of medicines.
Cataract Treatment – It covers the medical expenses incurred for cataract treatment of both eyes.
Day Care Treatment – It covers the cost of all day care treatments that require hospitalization of less than 24 hours.
Modern Procedures - It covers the medical expenses incurred on availing treatment through modern procedures, such as immunotherapy, stem cell therapy, oral chemotherapy, etc.
Road Ambulance Charges – It covers the cost of availing road ambulance services for the emergency transportation of the insured.

Exclusions of Magma Arogya Sanjeevani Policy

The Magma Arogya Sanjeevani policy excludes the following medical expenses:

OPD Treatment
Maternity Expenses
Domiciliary Hospitalization
Treatment taken outside India
Treatment for alcohol or drug addiction
Sterility and infertility
Obesity and weight-control treatments
Hazardous or adventure sports
Cosmetic or plastic surgery
Unproven treatment

FAQs

Q1. Does a Magma Arogya Sanjeevani policy come with any sub-limits?

Ans: Yes. The Magma Arogya Sanjeevani policy comes with sub-limits on hospital room rent, ICU charges and cataract treatment.
Q2. Are dental treatment and plastic surgery covered under a Magma Arogya Sanjeevani policy?

Ans: The Magma Arogya Sanjeevani policy does not provide coverage for dental treatment and plastic surgery. However, if a dental treatment or plastic surgery is required due to an illness or injury, then the insurance company will pay for the medical expenses.
Q3. Which documents should I submit to raise a claim under my Magma Arogya Sanjeevani policy?
Ans: The following documents should be submitted to raise a claim under your Magma Arogya Sanjeevani policy:
- Duly filled claim form
- Doctor’s prescription advising hospitalization
- Investigation/ diagnostic test reports
- Original hospital bills
- Bill payment receipts
- Hospital discharge summary
- NEFT details
Q4. How much time does it take to settle a claim under the Magma Arogya Sanjeevani policy?

Ans: The Magma General Insurance Company will settle your claim under the Arogya Sanjeevani policy within 30 days of receiving all the required documents.
Q5. Can I pay my Magma Arogya Sanjeevani policy premium in instalments?

Ans: Yes. You can pay your Magma Arogya Sanjeevani policy premium in half-yearly, quarterly and monthly premiums.

Policybazaar exclusive benefits

30 minutes claim support*(In 120+ cities)
Relationship manager For every customer
24*7 claims assistance In 30 mins. guaranteed*
Instant policy issuance No medical tests*

Confused which plan to buy?

Get expert advice at your home

Book at your convenience

No obligation to buy

Trusted and reliable advice

Book a FREE home visit ›

Health insurance companies

View more insurers

Disclaimer: The list mentioned is according to the alphabetical order of the insurance companies. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. For complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website www.irdai.gov.in

Magma Health Insurance Plans

Magma Arogya Sanjeevani Policy

Magma OneHealth Insurance Plan