Magma HDI General Insurance (Magma HDI), a joint venture between Magma Fincorp and HDI Global SE, Germany, launched its health insurance policy, OneHealth.
This product covers various medical conditions as well as lifestyle diseases which are covered rarely in the industry. The India State-Level Disease Burden Initiative’s Report released recently states that lifestyle diseases now kill more people than communicable ones like tuberculosis or diarrhoea in every state in India. Very few of the existing health insurance policies cover lifestyle ailments like Lasik, bariatric surgery, IVF treatment and in-patient psychiatric treatments among others.
Rajive Kumaraswami, MD & CEO, Magma HDI said, “According to studies, with increasing prevalence of lifestyle diseases in India, one out of four Indians is at risk of dying from non-communicable diseases. This policy along with covering all major lifestyle diseases will also offer additional benefits like restoration benefit, cumulative bonus, free annual health check-up.”
The product offers Rs 2 lakh to Rs 50 lakh, across only 4 variants. This can be taken for three years and there is a zone-wise premium calculation based on the location. Maternity is also covered under some variants of the product.
There is also an income benefit available that offers up to six months’ salary to the policyholder if they have any accident/injuries preventing them from reporting to work.
Date: 16th November,2017