Magma HDI One Health (Shield) is a health insurance policy offered by Magma HDI General Insurance Company Limited. A health insurance policy acts as a protective shield for savings and healthcare, so you and your family can live a happy, fulfilling life. One Health (Shield) Plan is designed to protect you and your loved ones from the financial burden of unexpected healthcare costs and ensure access to quality medical care when needed. It offers a range of coverage options and allows you to tailor your coverage to meet your specific healthcare needs and budget.
In addition to covering hospitalization and related expenses, this plan also provides coverage for treatments such as bariatric surgery and infertility. However, it's important to note that the plan imposes sub-limits on common treatments like cataracts, potentially resulting in substantial out-of-pocket expenses. Another aspect to consider is that this plan does not offer a monthly premium payment option, which could be a drawback for some individuals. Further, as per our research, the insurer has received a higher number of complaints related to policy purchases, which might impact your overall buying experience. On the bright side, there are fewer complaints concerning claim settlements, indicating that the insurer has a strong track record in terms of claims service.
Magma HDI General Insurance Company is a subsidiary of Adar Poonawalla's Rising Sun Group, with Sanoti Properties LLP holding a majority of the company’s shareholding. Other key shareholders are HDI Global SE, Celica Developers Private Limited, and Jaguar Advisory Services Private Limited. The company provides a variety of insurance products ranging from Motor, Health, Personal Accident, and Home Insurance in the retail space to Fire, Engineering, Liability, and Marine Insurance in the commercial space. It was founded in 2009 and is headquartered in Mumbai, Maharashtra. Mr. Rajive Kumaraswami is the company's CEO and MD.
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