A magnetic laminating inductor structure and process for preventing substrate bowing and damping losses generally include a laminated film stack including a magnetic layer having a tensile stress, an insulating layer having a compressive stress disposed on the magnetic layer, and a dielectric planarizing layer on the insulating layer. The dielectric planarizing layer has a neutral stress and a roughness value less than the insulating layer. The reduction in surface roughness reduces damping losses and the compressive stress of the insulating layers reduces wafer bowing.