Magma HDI Corona Kavach Health Insurance
Cashless Approval TAT | 2 hr Cashless Claim Processing |
Claim Settlement Ratio | 90.00% |
Network Hospitals | 7,800+ |
Special Benefits | Modern treatments such as IVF, Psychiatric covered |
About Magma HDI Corona Kavach Health Insurance
Magma HDI Corona Kavach Policy is an indemnity-based health insurance plan designed to shield you and your family against medical expenses incurred on the treatment of Covid-19. This plan is available on an individual or a floater basis with the sum insured options ranging between Rs. 50,000 and Rs. 5 lakh (in the multiples of Rs. 50,000). People between the age group of 1 day and 65 years can get the coverage under this plan, which may include relationships like self, legally wedded spouse, dependent children, parents, and parents-in-law.
This Corona Kavach Plan is available with three policy terms such as 3.5 months, 6.5 months, and 9.5 months, which can be availed only after a waiting period of 15 days. This policy brings several benefits such as in-patient-hospitalisation cover for Covid-19, AYUSH procedures, home care treatment, pre-hospitalisation and post-hospitalisation, etc. In addition to these, this plan also offers an add-cover known as hospital daily cash which can be availed only by paying off an additional premium. It provides 0.5% of the sum insured per day for up to 15 days.
Also read: Coronavirus Health Insurance
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Key Inclusions and Exclusions of the Plan
What's Included
- Home care treatment cover for maximum up to 14 days per incident
- Road ambulance subject to a maximum of Rs. 2,000 per hospitalisation
- In-patient care treatment for Covid-19 under AYUSH systems of medicines
- Hospitalisation costs for Covid-19 treatment for a minimum period of 24 consecutive hours
- Pre-hospitalisation and Post-hospitalisation expenses for 15 days and 30 days respectively
What's Not Included
- Expenses related to any unproven treatment, services and supplies
- Diagnostics or treatment taken outside the geographical limits of India
- Dietary supplements and substances that are purchased without a prescription
- Testing done at a diagnostic center which is not authorised by the government
- Services for persons who are terminally ill to address physical, social, emotional and spiritual needs
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FAQs on Corona Kavach Policy Health Insurance Plan
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Can I gain tax benefits under this Magma HDI Corona Kavach Health Insurance Policy?
Yes, you can avail tax benefits on the premium amount paid for Magma HDI Health Corona Kavach Policy under Section 80D of the Income Tax Act, 1961.
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Is this Magma HDI Corona Kavach Health Insurance Policy renewable?
No, you can not renew this Magma HDI Corona Kavach Plan. You will have to purchase a fresh plan after its policy term expires.
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What is the waiting period under this health insurance policy?
The waiting period of this Corona Kavach Health Insurance Policy is of 15 days from the date of policy commencement.
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What is the maximum sum insured amount I can opt under this health insurance plan?
Under this Magma HDI Corona Kavach Health Insurance Plan, you can opt for a sum insured option from Rs. 50,000 up to Rs. 5 lakh.