Terms & Conditions

Terms & Conditions

MyPolicyJunction (including Website are owned by Wealth Junction Consultants Private Limited, a company incorporated under the Companies Act, 2013 and having its registered office at No: 46/47, C S Towers, 2nd Floor, Thimmaiah Road, 1st Stage, 5th Phase, WOC Road, Shivanagar, Rajajinagar, Bengaluru - 560044 and is also registered with IRDAI as Corporate Agent (Composite) Registration Code: CA0690 ISNP Permission Ref: IRDAI/INT/ISNP/2021/97 Dated: 02/07/2021 & SEBI Registered Investment Adviser having Registration Certificate No. INA200011480

Wealth Junction Consultants Private Limited is in the business of providing Insurance products online to users through its technology platforms.

These Terms and Conditions contain important information regarding the Services that MypolicyJunction provides.

  1. License and Site Access

  2. In the Site, MyPolicyJunction provides users with access to information primarily about Insurance products and services including but not restricted to General Insurance, Life Insurance products, Health Insurance Products and related services (including but not limited to renewals) (the "Service"). You are responsible for obtaining access to the Site, and that access may involve third-party fees (such as Internet service provider or airtime charges). In addition, you must provide and are responsible for all equipment necessary to access the Site. By making use of this site, and furnishing your personal / contact details, you hereby agree that you are interested in availing and purchasing the Service(s) that you have selected. You hereby agree that MyPolicyJunction may contact you either electronically or through phone, to understand your interest in the selected products and Service(s) (like renewals, reminders etc.) and to fulfill your demand. You also agree that MyPolicyJunction reserves the right to make your details available to its affiliates and partners and you may be contacted by the affiliates and partners for information and for sales through email, telephone and/or sms. You agree to receive promotional materials and/or special offers from MyPolicyJunction through email or sms.

  3. Description of Services

  4. MyPolicyJunction grants you a limited license to access and make personal use of the Site and the Service. This license does not include any downloading or copying of any kind of information for the benefit of another individual, vendor or any other third party; caching, unauthorized hypertext links to the Site and the framing of any Content available through the Site uploading, posting, or transmitting any content that you do not have a right to make available (such as the intellectual property of another party); uploading, posting, or transmitting any material that contains software viruses or any other computer code, files or programs designed to interrupt, destroy or limit the functionality of any computer software or hardware or telecommunications equipment; any action that imposes or may impose (in MyPolicyJunction’s sole discretion) an unreasonable or disproportionately large load on MyPolicyJunction’s infrastructure; or any use of data mining,robots, or similar data gathering and extraction tools. You may not bypass any measures used by MyPolicyJunction to prevent or restrict access to the Site. Any unauthorized use by you shall terminate the permission or license granted to you by MyPolicyJunction. By using the Site you agree not to: (i) use this Site or its contents for any commercial purpose; (ii) make any speculative, false, or fraudulent transaction or any transaction in anticipation of demand; (iii) access, monitor or copy any content or information of this Site using any robot, spider, scraper or other automated means or any manual process for any purpose without our express written permission; (iv) violate the restrictions in any robot exclusion headers on this Site or bypass or circumvent other measures employed to prevent or limit access to this Site; (v) take any action that imposes, or may impose, in our discretion, an unreasonable or disproportionately large load on our infrastructure; (vi) deep-link to any portion of this Site (including, without limitation, the purchase path for any service) for any purpose without our express written permission; or (vii) "frame", "mirror" or otherwise incorporate any part of this Site into any other website without our prior written authorization.

  5. Acceptance of Terms and Conditions of MyPolicyJunction.com
  6. In order to use ‘Services’ at www.mypolicyjunction.com you have to read and accept its policies and documents displayed at website including:

    Copyright Policy- https://www.mypolicyjunction.com/copyright.html

    Privacy Policies - https://www.mypolicyjunction.com/privacy.html

    Disclaimer - https://www.mypolicyjunction.com/disclaimer.html

    These policies and documents are part of your acceptance of our services and it is binding on both parties as legal contract.

    You have created your registration to avail Services and accepted all terms and policies. You may not use ‘Services’ if you do not accept any terms at these policies. You should be of legal age to enter into a contract.

  7. Your Account

  8. In consideration of your use of the Site, you represent that you are of legal age to form a binding contract and are not a person barred from receiving services under the laws of India or other applicable jurisdiction and will only use the Site to make legitimate purchases for you or for another person for whom you are legally authorized to act (and will inform such other persons about the T&C and/or Privacy Policy) that apply to the purchase you have made on their behalf (including all rules and restrictions applicable thereto). You also agree to provide true, accurate, current and complete information about yourself as prompted by the Site. If you provide any information that is untrue, inaccurate, not current or incomplete (or becomes untrue, inaccurate, not current or incomplete), or MyPolicyJunction has reasonable grounds to suspect that such information is untrue, inaccurate, not current or incomplete, MyPolicyJunction has the right to suspend or terminate your account and refuse any and all current or future use of the Site (or any portion thereof). If you use the Site, you are responsible for maintaining the confidentiality of your account and password, and for restricting access to your computer. You agree to accept responsibility for all activities that occur under your account or password. Because of this, we strongly recommend that you exit from your account at the end of each session. You agree to notify MyPolicyJunction immediately of any unauthorized use of your account or any other breach of security. MyPolicyJunction reserves the right to refuse service, terminate accounts, or remove or edit content in its sole discretion. Notwithstanding the above, we retain the right at our sole discretion to deny access to anyone to the Site and the Services we offer, at any time and for any reason, including, but not limited to, for violation of the T&C or Privacy Policy. Additional terms and conditions will apply to your purchase of Services that you select. Please read these additional terms and conditions carefully. You agree to abide by the terms and conditions of purchase imposed by any service provider with whom you elect to deal, including, but not limited to, payment of all amounts when due and compliance with the service provider's rules and restrictions regarding use of products, and/or Services. You agree that any violation of any such service provider's rules and restrictions may result in cancellation of your purchase(s), in your being denied access to the applicable service(s), in your forfeiting any monies paid for such Services, and/or in our debiting your account for any costs we incur as a result of such violation.

  9. Scope of Services

  10. MyPolicyJunction is providing technology-based services to its clients and MyPolicyJunction is constantly innovating its products and platform to provide the best possible user experience and accurate solutions. As a part of continuing innovation, you allow us to improve, modify, change, delete, hide, and stop etc. various technology features to the website/Software in the best interest of clients or as part of best business practices without any prior notice to you.

    You agree to use the Services for personal use as per Terms & Condition and within the application framework of laws, regulations and generally accepted practices in India.

    You agree that you will not engage in any activity against the interest of the Company or its clients or laws of any country. You will not misuse your client rights in any manner. You agree that you will not use Services for any other person or you will not reproduce, duplicate, copy, sell, trade or resell the Services of Company in any manner.

    You agree and understand that log-in and password details are confidential use for yourself only if you disclose to any other person you may be at risk of disclosure or loss confidentiality about your financial information at MyPolicyJunction. If you become aware of any unauthorized use of your password, you agree to change the password and also notify us of such illegal events.

    You are aware that our Services is fully depended upon data and information which you have provided us as per simple questions to calculate, analyse, prepare reports/advice notes to you, hence, in the event of incorrect or hypothetical data entered by you we may not be held responsible for any loss or adverse stress etc. due to incorrect judgements at our end.

    You hereby agree, acknowledge and provide your consent that the information provided by you may be shared by MyPolicyJunction with regulators/government bodies as and when required or requested by them.

    You understand and agree to record your telephonic conversations with our customer support department (managed by itself or through any outsourced vendor) for quality control, record retention purposes, and other similar purposes, however, we agree to keep such records confidential.

  11. Cancellation & Refund/Chargeback Terms and Conditions
  12. a)Free look period Cancellation and Refund:

    As per the IRDAI rules and regulations, you have the right to cancel your insurance policy within 15(fifteen) days from the date of (online) receipt of insurance policy (referred to as “Free look period”) and refund of your premium amount shall be processed as per the applicable process and procedures followed by the insurer. This Free look facility can be availed only for Life and Health insurance policies, subject to certain other terms and conditions specified by IRDAI. We encourage all our customers to read the insurance policy document carefully and avail the free look facility in case the terms and conditions of the insurance policy document don’t match your insurance requirements. Further, you understand that once you place a cancellation request within the Free look period, the policy gets cancelled and entire premium is refunded to you subject to deduction of (i) charges pertaining to medical tests conducted (ii) administrative and service cost like stamp duty etc. and; (iii )Charges for mortality for the period the policy was in force. Please note such deduction is at the sole discretion of the insurer.

    All payments with respect to refunds as stated under this paragraph shall be the sole responsibility of the insurer per the rules and regulations laid down by the IRDAI. You understand that MyPolicyJunction has tied up with RBI authorized payment gateways to allow you to make online payments towards your insurance premium amount and is only acting as a mere facilitator and providing its assistance to its customers for speedy refunds.

    b)Chargebacks

    You (cardholder) may dispute a transaction carried out through our Website and file a Charegback with your issuing bank for the reversal of that transaction. Chargeback allows transactions to be reversed by you under specified circumstances such as, on account of (i) alleged forgery of the card number / bank account or other details (ii) any charge/debit made on a card that has been listed as a hot listed card or otherwise listed on the card association (Visa, MasterCard, etc.) warning bulletins (iii) duplicate processing of the transaction; or (iv) for other reasons as per applicable rules and guidelines issued by RBI, card Associations, your card/payment instrument issuing bank etc. However, we reserve the right to reject a Chargeback, including but not limited to, under the following circumstances:

    In the event your medical tests or underwriting is in process with your chosen insurer, not exceeding a period of 3 months from the date of your insurance policy application

    In the event there is any delay caused on the part of the insurer in conducting medical tests or during the process of medical underwriting or issuance of insurance policy or any service provided by the insurer in connection with the insurance policy issuance, not exceeding a period of 3 months from the date of your insurance policy application.

    In case your insurance policy application is rejected by the insurer, post your medical test, our Company shall not be liable to you, in any form or manner whatsoever, for any claims, disputes, proceedings which may arise in connection with Chargebacks initiated by you in the circumstances as specified under (a), (b) and (c) herein above.

  13. Additional Terms and Conditions of proposal form (applicable for health insurance products only):
    • You hereby declare, on your behalf and on behalf of all persons proposed to be insured, that the statements, answers and/ or particulars given by you are true and complete in all respects to the best of your knowledge and that you are authorized to propose on behalf of these other persons.

    • You understand that the information provided by you will form the basis of the insurance policy, is subject to the Board approved underwriting policy of the insurer and that the policy will come into force only after full payment of the premium chargeable.

    • You further declare that you will notify in writing any change occurring in the occupation or general health of the life to be insured/proposer after the proposal has been submitted but before communication of the risk acceptance by the insurance company.

    • You declare that you consent to the insurance company seeking medical information from any doctor or hospital who/which at any time has attended on the person to be insured/proposer or from any past or present employer concerning anything which affects the physical or mental health of the person to be insured/proposer and seeking information from any insurer to whom an application for insurance on the person to be insured/proposer has been made for the purpose of underwriting the proposal and/or claim settlement.

    • You authorize the MyPolicyJunction/insurance company to share information pertaining to your proposal including the medical records of the insured/ proposer for the sole purpose of underwriting the proposal and/or claims settlement and with any Governmental and/or Regulatory authority.

    • You consent to and authorize any of insurance company’s authorized representatives not being direct employees of the company to seek medical information required for the purpose of policy issuance or claim settlement under this policy from any hospital/medical practitioner that you or any person proposed to be insured/insured has attended or may attend in future concerning any disease or illness or injury.

    • You understand agree that (section 41 of Insurance Act):

      a) No person shall allow or offer to allow, either directly or indirectly, as an inducement to any person to take out or renew or continue an insurance in respect of any kind of risk relating to lives or property in India, any rebate of the whole or part of the commission payable or any rebate of the premium shown on the policy, nor shall any person taking out or renewing or continuing a Policy accept any rebate, except such rebate as may be allowed in accordance with the published prospectuses or tables of the insurers.

      b) Any person making default in complying with the provision of this section shall be liable for a penalty which may extend to ten lakh rupees.

  14. Customer Due Diligence requirements (CDD)

  15. You agree and acknowledge that for undertaking any financial transaction through the website, Our Company may undertake client/customer due diligence measuresers and seek mandatory information required for KYC purpose which as a customer you are obliged to give, while facilitating your request of insurance requirements with the insurance company(ies), in accordance with applicable PMLA laws and rules. Where required, you hereby consent to and authorize Our Company to obtain your credit information through authorized entities. Our Company may obtain sufficient information to establish, to its satisfaction or the insurance company, the identity of each new customer, and the purpose of the intended nature of insurance relationship between you and the insurance company(ies). You agree and understand that you shall ensure that any payment towards insurance premium is remitted only through your bank account or from a joint bank account in which you are a joint holder. In the event, payment towards insurance premium is remitted through a bank account opened in the name of a third party(i.e. not being in your name), you agree and acknowledge that Our Company can undertake enhanced due diligence measures(including any documentation), to satisfy itself relating to customer due diligence requirements. You further agree and acknowledge that, in line with the requirements and obligations under the PMLA Act and rules, all refunds shall be processed by the insurance company(ies) through us to the bank account which was used to remit payment of insurance premium.

  16. License Disclaimer

  17. Nothing on any MyPolicyJunction website shall be construed as conferring any license under any of MyPolicyJunction’s or any third party's intellectual property rights, whether by estoppel, implication, or otherwise.

  18. Confidentiality

  19. You shall keep confidential information received by MyPolicyJunction according to this Agreement, even after termination of this Agreement. You agree to protect the proprietary information of MyPolicyJunction to which you gain access to with the same standard of care and procedures used to protect your proprietary information of similar importance but at all times using a reasonable degree of care.

    You agree not to use or disclose the information provided under the service to any third party including any discussion Forums or for any unauthorized illegal purpose or commercial usage. You also agree to use the information provided under the plan strictly for personal purpose. You should not decompile, disassemble, copy, modify, distribute, transmit, display, perform, reproduce, publish or create derivative works from, transfer, or sell any information, services etc accessed here. You agree that any unauthorized use of MyPolicyJunction information or systems shall be unlawful and may subject to civil or criminal penalties.

  20. Termination

  21. You agree that MyPolicyJunction,in its sole discretion, for any or no reason, and without penalty, may suspend or terminate your account (or any part thereof) or your use of the Website, at any time. MyPolicyJunction may also in its sole discretion block, restrict, disable, suspend or terminate your access to the Website, or any part thereof, with or without notice. You agree that any termination of your access to the Website and or any account you may have or portion thereof may be effected without prior notice, and you agree that MyPolicyJunction will not be liable to You or any third party for any such termination or interruption. Any suspected fraudulent, abusive or illegal activity may be referred to appropriate law enforcement authorities. These remedies are in addition to any other remedies MyPolicyJunctionmay have at law or in equity. Upon termination for any reason, you agree to immediately stop using the Website / Service. The User may terminate his / her account with MyPolicyJunction by raising a termination request in writing through email at:support@mypolicyjunction.com

  22. Limitation of Liabilities

  23. In no event, MyPolicyJunction or its contractors, agents, licensors, directors, employees, associates, partners or suppliers will be liable to You for any special, indirect, incidental, consequential, punitive, reliance, or exemplary damages (including without limitation lost business opportunities, losses in investment products, lost revenues, or loss of anticipated profits or any other pecuniary or non-pecuniary loss or damage of any nature whatsoever) howsoever arising.

    In no event, MyPolicyJunction,directors, employees, agents will be liable to You or any third party for any damages, liabilities, losses, and causes of action arising out of or relating to (i) this Agreement; (ii) use of or access to the Website or any reference Site / App / Platform / Service; or (iii) Your use or inability to use the Services provided by MyPolicyJunction (including all materials) or any reference Sites / App / Platform / Service; or (iv) any other interactions with MyPolicyJunction, or (v) any action caused by Insurers or any other third party, however, caused and whether arising in contract, tort including negligence, warranty or otherwise, beyond or over ₹500, or the amount required as per Regulatory guidelines, whichever is lesser.

    You acknowledge and agree that MyPolicyJunction has offered its Services, set its prices, and entered into this Agreement in reliance upon the warranty disclaimers and the limitations of liability set forth herein, that the warranty disclaimers and the limitations of liability set forth herein reflect a reasonable and fair allocation of risk between You and MyPolicyJunction, and that the warranty disclaimers and the limitations of liability set forth herein form an essential basis of the bargain between You and MyPolicyJunction. MyPolicyJunction would not be able to provide the Services to you on an economically reasonable basis without these limitations. This paragraph shall survive the termination of this Agreement.

  24. Indemnification

  25. You agree to indemnify, save and hold MyPolicyJunction/ the Insurers, their affiliates, employees, officers, directors and partners harmless from all claims, losses, damages, and liabilities, costs and expenses, including without limitation legal fees and expenses, arising out of or related to (i) Your use or misuse of the Services / Website; (ii) any violation by You of this Agreement or applicable laws; or (iii) any breach of the representations, warranties, and covenants made by You herein; or (iv) any act, neglect, misconduct or fraud on your part; or (v) sharing and or disclosing the information disclosed hereunder. MyPolicyJunction reserves the right, at your expense, to assume the exclusive defence and control of any matter for which you are required to indemnify.

    MyPolicyJunction, including rights to settle, and you agree to cooperate with MyPolicyJunction’s defence and settlement of these claims.

    MyPolicyJunction will use reasonable efforts to notify You of any claim, action, or proceeding brought by a third party that is subject to the foregoing indemnification upon becoming aware of it. This paragraph shall survive termination of this Agreement.

  26. Modification of Terms

  27. MyPolicyJunction reserves the rights to change, modify, add, or remove portions of this Agreement (each, a change and collectively, changes) at any time by posting a notification on the Website or otherwise communicating the notification to You. The changes will become effective, and shall be deemed accepted by You, 24 hours after the initial posting and shall apply immediately on a going-forward basis concerning Your use of the Website, availing the Services or for payment transactions initiated after the posting date. If You do not agree with any such change, Your sole and exclusive remedy are to terminate Your use of the Website / Service. For certain changes, MyPolicyJunction may be required under applicable law to give You advance notice, and MyPolicyJunction will comply with such requirements. Your continued use of the Website / Service following the posting of changes will mean that you accept and agree to the changes.

  28. Notices

  29. MyPolicyJunction may provide you with notices and communications by e-mail, SMS, push notifications, regular mail or postings on the Website or by any other reasonable means. Except as otherwise set forth herein, notice to MyPolicyJunction must be sent by courier or registered mail to compliance@mypolicyjunction.com

    MyPolicyJunction shall send out all notices, information and other correspondence to you by email/SMS at the email address/telephone number provided by the User. In the event any notice, information or other correspondence is sent to you via letter, such letter will be sent to the postal address that you have given as your Communication address. In case of any change in your email id and/or mobile number / Correspondence address, you shall inform MyPolicyJunction in advance in the prescribed format to carry out the necessary changes in its records.

    MyPolicyJunction does do not guarantee that electronic communications will be successfully delivered, or that they will be secure and virus free. MyPolicyJunction will not be liable for any loss, damage, expense, harm or inconvenience caused as a result of an email being lost, delayed, intercepted, corrupted or otherwise altered or for failing to be delivered for any reason beyond our reasonable control. All correspondence will be in English.

    You agree to be contacted by MyPolicyJunction and its representatives over the phone or on registered email id concerning the Services. You agree & confirm that if your mobile number is registered in the Do Not Disturb (DND) list of TRAI, you may not receive SMS from MyPolicyJunction. You agree to take steps to deregister from the DND list and shall not hold MyPolicyJunction liable for non-receipt of SMS in the interim period.

  30. Waiver

  31. The failure of MyPolicyJunction to exercise or enforce any right or provision of this Agreement will not constitute a waiver of such right or provision. Any waiver of any provision of this Agreement will be effective only if in writing and signed by MyPolicyJunction.

  32. Dispute Resolution

  33. If any dispute, controversy or claim arises under this Agreement or concerning the Website / Service, including any question regarding the existence, validity or termination of this Agreement or any specific terms contained herein (hereinafter Dispute), the parties shall use all reasonable endeavours to resolve such Dispute amicably. If the parties are unable to resolve the Dispute amicably within 30 days of the notice of such Dispute, MyPolicyJunction may elect to resolve any Dispute by binding arbitration by the provisions of the Indian Arbitration & Conciliation Act, 1996 (hereinafter Act). Such Dispute shall be arbitrated on an individual basis and shall not be consolidated in any arbitration with any claim or controversy of any other party. The Dispute shall be resolved by a sole arbitrator, appointed by MyPolicyJunction on behalf of both the Parties by the Act. The seat of the arbitration shall be Bengaluru and the language of this arbitration shall be English. Either You or MyPolicyJunction may seek any interim or preliminary relief from a court of competent jurisdiction necessary to protect the rights or the property belonging to You or MyPolicyJunction (or any of our agents, suppliers, and subcontractors), pending the completion of arbitration. Any arbitration shall be confidential, and neither You nor MyPolicyJunction may disclose the existence, content or results of any arbitration, except as may be required by law or for purposes of enforcing the arbitration award. All administrative fees and expenses of arbitration will be divided equally between You and MyPolicyJunction. In all arbitrations, each party will bear the expense of its lawyers and preparation. This paragraph shall survive termination of this Agreement.

  34. Governing Laws

  35. Subject to the Dispute Resolution section above, you agree that any claim or dispute you may have against MyPolicyJunction must be resolved by a court having jurisdiction in Bengaluru, India. You agree to submit to the personal jurisdiction of the courts located within Bengaluru, India, to litigating all such claims or disputes. This Agreement shall be governed by Indian law. This paragraph shall survive termination of this Agreement.

  36. Severability

  37. If any provision of this Agreement is held to be unlawful, void, invalid or otherwise unenforceable, then that provision will be limited or eliminated from this Agreement to the minimum extent required, and the remaining provisions will remain valid and enforceable.

  38. Survival

  39. Upon termination of this Agreement, any provision, which, by its nature or express terms should survive, will survive such termination or expiration as applied to transfers and relationship before such termination or expiration.

  40. Headings

  41. The heading references herein are for convenience purposes only and they do not constitute a part of these T&Cs and will not be deemed to limit or affect any of the provisions hereof.

  42. Entire Agreement

  43. These terms and conditions are the entire agreement between you and MyPolicyJunction relating to the subject matter hereof and this Agreement will not be modified except by a change to this Agreement made by MyPolicyJunction in accordance with the terms of this Agreement.

  44. Force Majeure

  45. If the whole or any part of the performance of the respective obligations of the parties hereunder is prevented or delayed by reasons of natural calamities, war, arson, civil disturbance, unavailability of any communication system including Internet, breach or virus in the processes or payment mechanism, sabotage, acts of government, computer hacking, unauthorized access to computer data and storage devices, computer crashes, breach of security and encryption codes and such other reasons beyond the reasonable control of a person (each a “Force Majeure Event”), then to the extent either party shall be prevented or delayed from performing all or any part of their respective obligations under this Agreement despite due diligence and reasonable efforts to do so, then such party shall be excused from performance hereunder for so long as reasons of Force Majeure Event continue. A Force Majeure Event shall not affect the payment obligations of the parties unless there is a legal bar/embargo to the making of the payments.

  46. Assignment

  47. The right to use the Website / Service is personal to you and is not transferable by assignment, sublicense, or any other method to any other person or entity.

    Privacy Policy

    This Privacy Policy applies to all of the products, services and websites offered by MyPolicyJunction. Sometimes, we may post product specific privacy notices or Help Centre materials to explain our products in more detail.

    If you have any questions about this Privacy Policy, please feel free to contact us through our website or write to us at support@mypolicyjunction.com

    Changes to our Privacy Policy

    MyPolicyJunction reserves the entire right to modify/amend/remove this privacy statement anytime and without any reason. Nothing contained herein creates or is intended to create a contract/agreement between MyPolicyJunction and any user visiting the MyPolicyJunction website or providing identifying information of any kind.

    DND Policy

    If you wish to stop any further SMS/email alerts/contacts from our side, all you need to do is to send an email:- support@mypolicyjunction.com with your mobile numbers and you will be excluded from the alerts list.

    Contact Details:

    Email: support@mypolicyjunction.com