Magma HDI Forays into Health Insurance Business

By Tricitynews Reporter

Chandigarh 29^th November:- Magma HDI General Insurance Co Ltd (Magma HDI), a joint venture between Magma Fincorp Ltd and HDI Global SE, Germany, forayed into the health insurance business with the launch of OneHealth, the next generation health insurance policy. 

OneHealth is the generation-next health insurance which covers various significant 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, psychiatric treatments etc. OneHealth is a first of its kind health insurance policy that covers all such ailments which are not yet considered medical conditions in the industry.  

Speaking about the launch of the new policy, Rajive Kumaraswami, MD & CEO, Magma HDI, said that here is an increasing prevalence of lifestyle diseases in India where one out of four Indians is at risk of dying from non-communicable diseases. But hardly are these lifestyle diseases covered under any insurance policy. Therefore, keeping in mind the modern lifestyle and the increase in lifestyle diseases we designed this policy to meet the need of the customer and his entire family. OneHealth, along with covering all major lifestyle diseases will also offer additional benefits like restoration benefit, cumulative bonus, free annual health check up, loss of income etc.