Subscribe

0

  • Sign in with Email

By clicking the button, I accept the Terms of Use of the service and its Privacy Policy, as well as consent to the processing of personal data.

Don’t have an account? Signup

  • Bookmarks
  • My Profile
  • Log Out
  • NEWS
  • POLICIES
  • MSME OPPORTUNITIES
  • BANKING & FINANCE
  • TECHNOLOGY FOR SMES
  • SECTORS
  • GLOBAL
  • Investment
  • LEGAL
  • KNOWLEDGE QUEST
  • Future Ready Forum 2025
  • Ek Nayi Udaan
  • Future Ready Summit 2024
  • ADVERTISE WITH US
ad_close_btn
  • News
  • Policies
  • Banking & Finance
  • MSME Opportunities
  • Web Stories
  • InFocus
  • Technology For SMEs
  • Sectors
  • Global
  • Fashion

Powered by :

You have successfully subscribed the newsletter.
InFocus Finance

Magma HDI Launches Double Suraksha Insurance Plan

Commenting on this announcement, Mr. Amit Sirsikar, Head - Health & Accident, Magma HDI, said, “‘Double Suraksha’ is designed to address a real-life challenges consumers face.

author-image
SMEStreet Edit Desk
16 Oct 2024 14:38 IST

Follow Us

New Update
magma hdi
Listen to this article
0.75x 1x 1.5x
00:00 / 00:00
Magma HDI General Insurance introduces ‘Double Suraksha,’ a versatile insurance solution designed to meet the needs of individuals from varied financial backgrounds. Whether for those who cannot afford comprehensive health plans due to high costs, or for the affluent seeking additional coverage for unaccounted expenses during hospitalization – ‘Double Suraksha’ provides a fixed daily cash benefit. This provides policyholders with financial flexibility to use the payout for medical or non-medical expenses related to hospitalization, based on their individual needs.
 
The genesis of this product stems from an extensive multi-city qualitative research study conducted by Magma HDI, aimed at understanding customer needs. The research revealed that hospitalization leads to increased or unexpected medical expenses, and for certain less affluent segments of society, it also results in income loss due to missed work. This brought forth a strong need for a low-cost product compared to comprehensive health plan that allows consumers flexibility to use the insurance payout according to their needs.
 
Commenting on this announcement, Mr. Amit Sirsikar, Head - Health & Accident, Magma HDI, said, “‘Double Suraksha’ is designed to address a real-life challenges consumers face. What makes ‘Double Suraksha’ stand out is its relevance to everyone—whether they already have comprehensive health insurance or not.
It is observed that even those with health insurance often encounter unexpected costs, like consumables not covered by most health policies, or travel and food expenses for a companion who stays with them during hospitalization. These costs escalate further when the treatment requires traveling out of town, often leading to added accommodation expenses for the companion. ‘Double Suraksha’ steps in to cover these additional costs, offering financial support to policyholders.
 
For individuals who can’t afford comprehensive health plans—such as truck drivers or domestic workers—this product offers crucial support as it can cover the medical costs and also protect them against the income loss due to hospitalization. This product truly embodies its promise: Chalti Rahe Zindagi, Rukawaton Pe Ruke Nahi—ensuring life keeps moving, despite any obstacles.”
 
The name ‘Double Suraksha’ represents Double Daily Cash benefit in two difficult scenarios: ICU hospitalization and hospitalization due to an accident. 
 
‘Double Suraksha’ offers a range of base and optional covers, allowing policyholders to tailor their coverage according to individual needs. With customizable sum insured amounts and flexible policy durations, this plan is designed to be adaptable to various financial situations.

Key add-ons that enhance the product’s comprehensiveness include:

  • Compassionate Benefit: In case of an insured person’s death or permanent total disablement due to an accident, the insured person or nominee will get a lump sum amount
  • Convalescence Benefit: If hospitalized for a minimum of 5 days in a row due to illness or injury, the insured person gets an extra lump sum
  • Day Care Treatment Cash Benefit: If the insured requires and avails medically necessary treatment (like Cataract, Hemodialysis etc.) they will receive a lump sum benefit amount which is 2 times the sickness daily cash benefit
Magma HDI Insurance Plan
Subscribe to our Newsletter! Be the first to get exclusive offers and the latest news
logo

Related Articles
Read the Next Article
Latest Stories
Subscribe to our Newsletter! Be the first to get exclusive offers and the latest news

Latest Stories
Latest Stories
    Powered by


    Subscribe to our Newsletter!




    Powered by
    Select Language
    English

    Share this article

    If you liked this article share it with your friends.
    they will thank you later

    Facebook
    Twitter
    Whatsapp

    Copied!