Magma HDI One Health (Support Plus) is a health insurance policy offered by Magma HDI General Insurance Company Limited. Health insurance provides financial protection against unexpected medical expenses, which can be a major financial burden. You can ensure that you and your family receive the medical treatment you need without having to worry about the costs associated with it. Magma HDI’s One Health (Support Plus) Plan provides highly flexible coverage and a variety of benefits and features, making it a popular choice in the market.
This plan is cost-effective compared to other health insurance plans in the market. Besides hospitalization and related costs, it provides coverage for treatments associated bariatric surgery, infertility, etc. On the flip side, the plan imposes sub-limits on common treatments like cataracts, potentially leading to significant out-of-pocket expenses and there is no option under the plan to pay the premium on monthly basis which can be a drawback for some. Further, as per our research the insurer has received higher number of complaints in terms of policy purchase so you may not have a pleasant purchase experience. However, it has fewer claim settlement complaints, suggesting 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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