Magma Health Insurance Waiting Period

Magma Health Insurance Waiting Period

Magma Health Insurance Waiting Period refers to the time period the insured is required to wait before filing a health insurance claim. It differs from one Magma health insurance plan to another and for various diseases and medical procedures. However, no initial waiting period has to be served by the insured to file an accidental insurance claim with Magma General Insurance Limited.

Types of Magma Health Insurance Waiting Period

The following types of waiting periods are applicable to Magma health insurance plans:

1. Magma Health Insurance Pre-existing Diseases Waiting Period

   This type of waiting period should be served to claim the cost of treating pre-existing diseases (PED), including obesity, diabetes, cholesterol, heart ailments, hypertension, etc.

2. Magma Health Insurance Specific Diseases Waiting Period

   Policyholders must serve this waiting period to pay for medical expenses incurred on specific diseases, including cataract, internal congenital defects, osteoarthritis and chronic renal failure.

3. Magma Health Insurance First Thirty Days Waiting Period

   This waiting period needs to be served to file a non-accidental health insurance claim with the insurance company.

4. Magma Health Insurance Maternity Benefit Waiting Period

   The insured should serve this waiting period to claim the medical expenses resulting from childbirth, lawful termination of pregnancy or accidental miscarriage under their maternity insurance policy

5. Magma Health Insurance Critical Illness Cover Waiting Period

   This waiting period must be served to pay for the treatment cost of critical illnesses, such as cancer, organ transplant surgery, stroke, heart attack, etc., by claiming the critical illness cover.

6. Magma Health Insurance IVF Treatment Cover Waiting Period

   The insured needs to serve this waiting period to pay for the medical expenses incurred on the IVF treatment.

7. Magma Health Insurance Bariatric Surgery Cover Waiting Period

   This type of waiting period should be served by the insured to pay for the cost of undergoing bariatric surgery.

8. Magma Health Insurance Psychiatric Treatment Cover Waiting Period

   Policyholders must serve this waiting period to pay for the cost of availing psychiatric treatment.

9. Magma Health Insurance LASIK Surgery Cover Waiting Period

   This type of waiting period needs to be served to claim the cost of undergoing a LASIK eye surgery by the insured.

10. Magma Health Insurance Enhanced Maternity Benefit Waiting Period

    Policyholders should serve this waiting period to enhance the maternity coverage limit for the Magma health insurance policy.

11. Magma Health Insurance Zone-wise Co-pay Waiver Benefit Waiting Period

    This waiting period must be served to waive off the co-payment applicable on obtaining medical treatment at a higher zone.

12. Magma Health Insurance Childbirth Hospital Cash Waiting Period

    The insured needs to serve this waiting period to receive a daily cash allowance in case of hospitalization resulting from childbirth.

13. Magma Health Insurance COVID-19 Treatment Waiting Period

    This waiting period should be served to file a claim to pay for the treatment cost of COVID-19 or the coronavirus disease.

14. Magma Health Insurance OPD & Home Care for COVID-19 Waiting Period

    The insured must serve this waiting period to claim the medical expenses incurred on OPD treatment and home care of the insured if diagnosed with COVID-19.

15. Magma Health Insurance Pre-existing Disability Cover Waiting Period

    This type of waiting period needs to be served to pay for the medical expenses incurred on the treatment of a pre-existing disability of the insured.

16. Magma Health Insurance Special Waiting Period

    Policyholders should serve this waiting period to file a claim for any medical condition declared by the insured at the time of buying the policy.

List of Magma Health Insurance Waiting Period

The following waiting periods apply to health insurance plans offered by Magma General Insurance Limited:

Note: The Magma health insurance waiting period disease list and the exact waiting period may vary from one plan to another.

Is It Possible to Reduce the Magma Health Insurance Waiting Period?

Yes. Policyholders can reduce the waiting period for pre-existing diseases with the Reduction of Pre-existing Disease Waiting Period benefit under Magma OneHealth, Double Suraksha and OneHealth Extra Cover plans. In fact, the Magma OneHealth Insurance plan waives off the waiting period for pre-existing asthma, hypertension, cholesterol, diabetes, obesity, coronary artery diseases, coronary artery bypass graft (CABG) and chronic obstructive pulmonary disease (COPD) with the Insta Cover benefit.

Similarly, the insured can reduce the initial waiting period with the Reduction of First Thirty Days Waiting Period benefit and the maternity waiting period with the '1 Year Waiting Period for Maternity' benefit under the Magma OneHealth Insurance plan. Moreover, the waiting period for specific diseases can also be reduced under the Magma OneHealth and Double Suraksha plans.

However, these benefits are available only by paying an additional premium amount.

Things to Remember About Magma Health Insurance Waiting Period

Check out the various things to remember about the Magma health insurance waiting period:

• The insured does not need to serve any waiting period to file an accidental claim with Magma General Insurance Limited.
• Any disease or illness diagnosed after purchasing the Magma health insurance policy is not considered pre-existing by the insurer.
• In some mediclaim policies, the option to reduce waiting periods for pre-existing diseases, specified illnesses, accidental injuries, and maternity expenses is available on paying an extra premium.
• Policyholders must serve the waiting period and the survival period to claim their critical illness insurance policy.

Magma Health Insurance Waiting Period: FAQs