Magma HDI Health Insurance for Maternity
Maternity coverage is a must if you are planning to start a family in the near future. Sometimes, rational and futuristic thinking may save you costs and financial troubles later on. Such was the case when Malini and her husband Sayan, who are both working professionals, decided to purchase this plan well in advance, driven by something they had witnessed in real life. Malini had a colleague Sunetra who was about to have a child and then she realized how expensive the entire process was, right from the initial pre-hospitalization period to childbirth, doctor’s consultations, post-hospitalization care and other tasks. This created a lot of stress for Sunetra and her family ultimately had to take another costly personal loan to meet costs, which they are repaying till now.
Hence, to avoid such a scenario, Malini and Sayan thought of integrating maternity insurance into their health insurance basket early on to avoid these future hassles. This served them well down the line, once they went through the process, and all the costs were covered, leaving them mentally free to focus on their newborn and the health of the expecting mother.
Magma HDI health insurance could be a good option for integrating maternity coverage into your portfolio. The Magma HDI maternity coverage offers various benefits to policyholders as well. The Magma HDI maternity insurance policy offers suitably tailored solutions for diverse medical requirements inclusive of maternity. It offers solutions meeting financial requirements at the time of delivery of the newborn. There are several options including Support Plus, Support, Premium, and Shield. There are numerous add-on features contained in the plan including accident coverage and critical illness coverage. There are various options for the sum insured at a comparatively lower premium, making it ideal for women.
Main Highlights of the Magma HDI Health Insurance for Maternity
- 95.17% as the claim settlement ratio of the company.
- Coverage for COVID-19 linked treatments and ailments.
- 100% claim settlement procedures are done absolutely in-house.
- 4,477 policies sold till date.
- There are more than 4,300 network hospitals contained in the plan as well.
- There is also the lifelong renewability option available for policyholders under this plan.
Benefits of Magma HDI Maternity Health Insurance
Does Magma HDI health insurance cover maternity? The answer to the question has been answered already. Here are some of the benefits and key pointers worth noting in this regard.
- Sum insured amounts vary between Rs. 2 lakh and Rs. 50 lakh.
- Upon selecting a policy duration of two years, a premium discount of 10% is available.
- For a duration of three years, there is a 12.5% discount that is available.
- Annual free health check-ups are also available, irrespective of the number of claims made in a single policy year.
- There is a lump sum amount as the daily hospital cash benefit for every single day of medical hospitalization.
- E-medical opinions are available if any particular critical illness has been identified.
- The sum insured is restored once the basic sum insured amount is exhausted.
- Newborn baby coverage, maternity coverage and newborn vaccination.
- Outpatient coverage under the Premium category with Rs. 20,000 as the maximum sum.
- Coverage for dependent children, spouse, parents, parents-in-law and others.
- Post and pre-hospitalization coverage for 60-90 days and 30-60 days respectively.
- There is coverage for global emergency hospitalization along with air ambulance facilities.
- AYUSH treatment coverage and non-allopathic procedures including Ayurveda.
- Coverage for domiciliary hospitalization along with organ donor costs and daycare treatment expenditure.
For enjoying the benefits under the policy, the minimum and maximum age thresholds are 18 and 65 years respectively. The minimum age for a child is 5 years while it is 91 days in the floater policy. There are several exclusions including no coverage for treatment costs in the initial 30-day waiting period. Other exclusions include 90 days as the initial waiting period for critical ailments and alternative treatments with the exception of AYUSH treatments. There is no coverage for injuries or illnesses owing to chemical or nuclear reactions and treatments/medication which are not supported by the doctor in question. The OneHealth Insurance Policy is the core option that starts from Rs. 2 lakh onwards as the sum insured amount.
Magma HDI Health Insurance for Parents FAQs
What is the name of the Magma HDI health insurance plan?
The name of the Magma HDI health insurance plan is the OneHealth Insurance Policy. This offers maternity coverage along with a family floater option too.
Are alternative treatments covered under the scope of this plan?
The Magma HDI health insurance policy offers coverage for AYUSH treatments only. No other alternative treatments have coverage under the policy in question.
What is the sum insured amount under this plan?
There are several options pertaining to the sum insured amount. This ranges between Rs. 2 lakh and Rs. 50 lakh, depending on the specific requirements of policyholders.
What is the claim settlement ratio of the company?
The claim settlement ratio of the company is 95.17%. This ensures swift claim settlement and processing for policyholders. The company also has a dedicated and 100% in-house claim settlement team.
How many network hospitals can you find under the purview of this plan?
You can get access to a vast network of more than 4,300 hospitals under the purview of this plan.