We strongly recommend that as you read this terms of usage, you also access and read the linked information since its incorporated into and hereby made part of this terms of usage. Any use of any functionality on this site tantamount to acceptance of this usage policy. If you do not agree to our usage policy you may not use this site in any way.
(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. All customers are requested 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, please as a user, we urge you to understand that once you place a cancellation request within the Free look period, the policy gets cancelled and the 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 1 shall be the sole responsibility of the insurer as per the rules and regulations laid down by the IRDAI. You understand that insurejoy.com 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 quick and fast refunds.
(b) Chargeback As a card holder you may dispute a transaction carried out through our Website and file a chargeback 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:
1. 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.
2. 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.
3. In case your insurance policy application is rejected by the insurer, post your medical test.
4. Our Company shall not be liable to you, in any form or manner whatsoever, for any claims, disputes, or proceedings which may arise in connection with Chargeback initiated by you in the circumstances as specified under (a), (b) and (c) herein above.
(ii) 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.
(iii) 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.
(iv) 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.
(v) You authorize the Insuregram Insurance Brokers Pvt Ltd (insurejoy.com)/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.
(vi) 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.
(vii) 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.”
1. Description of Services
insurejoy.com provides users with access to information about insurance products and services and you are responsible for getting access to 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 services that you have selected. You hereby agree that insurejoy.com may contact your either electronically or through phone to understand your interest in the selected products and services like new business solicitation, renewals, etc and to fulfill your demand. You also agree that insurejoy.com 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 or sms. You agree to receive promotional materials and special offers from insurejoy.com through email or sms.2. Licence and Site access
Insuregram Insurance Brokers Pvt Ltd (insurejoy.com) 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 Insuregram Insurance Brokers Pvt Ltd (insurejoy.com)'s sole discretion) an unreasonable or disproportionately large load on Insuregram Insurance Brokers Pvt Ltd (insurejoy.com)'s infrastructure; or any use of data mining, robots, or similar data gathering and extraction tools. You may not bypass any measures used by Insuregram Insurance Brokers Pvt Ltd (insurejoy.com) to prevent or restrict access to the Site. Any unauthorized use by you shall terminate the permission or license granted to you by Insuregram Insurance Brokers Pvt Ltd (insurejoy.com). 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.3. Eligibility
The Service is not available to minors under the age of 18 or to any users suspended or removed from the system by Insuregram Insurance Brokers Pvt Ltd (insurejoy.com) for any reason. Users may not have more than one active account. Additionally, users are prohibited from selling, trading, or otherwise transferring their accounts to another party. If you do not qualify, you may not use the Service or the Site.4. Submitted Content
Insuregram Insurance Brokers Pvt Ltd (insurejoy.com) does not claim ownership of any materials you make available through the Site. At Insuregram Insurance Brokers Pvt Ltd (insurejoy.com)'s sole discretion, such materials may be included in the Service in whole or in part or in a modified form. With respect to such materials you submit or make available for inclusion on the Site, you grant Insuregram Insurance Brokers Pvt Ltd (insurejoy.com) a perpetual, irrevocable, non-terminable, worldwide, royalty-free and non-exclusive license to use, copy, distribute, publicly display, modify, create derivative works, and sublicense such materials or any part of such materials (as well as use the name that you submit in connection with such submitted content). You hereby represent, warrant and covenant that any materials you provide do not include anything (including, but not limited to, text, images, music or video) to which you do not have the full right to grant the license specified in this Section 4. We take no responsibility and assume no liability for any submitted content posted or submitted by you. We have no obligation to post your comments; we reserve the right in our absolute discretion to determine which comments are published on the Site. If you do not agree to these terms and conditions, please do not provide us with any submitted content. You agree that you are fully responsible for the content you submit. You are prohibited from posting or transmitting to or from this Site: (i) any unlawful, threatening, libelous, defamatory, obscene, pornographic, or other material or content that would violate rights of publicity and/or privacy or that would violate any law; (ii) any commercial material or content (including, but not limited to, solicitation of funds, advertising, or marketing of any good or services); and (iii) any material or content that infringes, misappropriates or violates any copyright, trademark, patent right or other proprietary right of any third party. You shall be solely liable for any damages resulting from any violation of the foregoing restrictions, or any other harm resulting from your posting of content to this Site.5. Disclaimer of Liability and Warranty
The Content, Products, and Services Published on this site may include inaccuracies or errors, Including Pricing errors. We do not guarantee the accuracy , and disclaim all liability for any errors or other inaccuracies relating to the information and description of the content, products, and services we expressly reserves the right to correct any pricing errors on the site and/or on pending reservations made under an incorrect price. Insuregram Insurance Brokers Pvt Ltd (insurejoy.com) makes no representation about the suitability of the information, Software, products, and services contained on this site for any purpose, and the inclusion or offering of any products or services on this site does not constitute any endorsement or recommendation of such products or services. All such information, software, products, and services are provided "AS IS" without warranty of any kind. Insuregram Insurance Brokers Pvt Ltd (insurejoy.com) disclaims all warranties and conditions that this site, its services or any email sent from Insuregram Insurance Brokers Pvt Ltd (insurejoy.com), its affiliates, and/or their respective or associated service providers are free of viruses or other harmful components. Insuregram Insurance Brokers Pvt Ltd (insurejoy.com) hereby disclaims all warranties and conditions with regard to this information, software, products, and services, including all implied warranties and conditions of merchantability, fitness for a particular purpose, title, and no infringement. The service providers providing services on this site are independent affiliates and Insuregram Insurance Brokers Pvt Ltd (insurejoy.com) are not liable for the acts, errors, omissions, representations, warranties, breaches or negligence of any such service providers or for any personal injuries, death, property damage, or other damages or expenses resulting therefore. Insuregram Insurance Brokers Pvt Ltd (insurejoy.com) and its affiliates have no liability and will make no refund in the event of any delay, cancellation, strike, force majeure or other causes beyond their direct control, and they have no responsibility for any additional expense omissions delays or acts of any government or authority. In no event shall Insuregram Insurance Brokers Pvt Ltd (insurejoy.com) and/or its affiliates be liable for any direct, indirect, punitive, incidental, special, or consequential damages arising out of, or in any way connected with, your access to, display of or use of this site or with the delay or inability to access, display or use this site (including, but not limited to, your reliance upon opinions appearing on this site; any computer viruses, information, software, linked sites, products, and services obtained through this site; or otherwise arising out of the access to, display of or use of this site) whether based on a theory of negligence, contract, tort, strict liability, or otherwise, and even if Insuregram Insurance Brokers Pvt Ltd (insurejoy.com) and/or its affiliates their respective service providers have been advised of the possibility of such damages.6. Disclaimer of Online Availability,Impressions, And Click-Throughs
In addition to the other disclaimers and limitations discussed in this notice, there are no guarantees and no warranties regarding online availability, impressions, and click-through of Insuregram Insurance Brokers Pvt Ltd (insurejoy.com), its web pages, and any material, information, links, or content presented on the web pages at Insuregram Insurance Brokers Pvt Ltd (insurejoy.com). Insuregram Insurance Brokers Pvt Ltd (insurejoy.com), its web pages, and any material, information, links, or content presented on the web pages at Insuregram Insurance Brokers Pvt Ltd (insurejoy.com), may be unavailable for online access at anytime. Advertising sponsors and advertising,if any and if permitted, must be approved by Insuregram Insurance Brokers Pvt Ltd (insurejoy.com) before the posting of any advertising material, information, links, content, banners, and graphics on Insuregram Insurance Brokers Pvt Ltd (insurejoy.com) Insuregram Insurance Brokers Pvt Ltd (insurejoy.com) reserves the right to accept or to reject any advertising sponsor or any advertising for any reason7. Cancellation & Refund/Chargeback Terms and Conditions
In case you are dissatisfied with the services provided by either insurejoy.com or the insurance company, please email the insurer on the email ID mentioned in the payment confirmation email. Your refund will be processed by the insurance company as per their respective refund policies. In such cases, you will be required to communicate with them directly, although we may assist you in the process. In the case of(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. All customers are requested 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, please as a user, we urge you to understand that once you place a cancellation request within the Free look period, the policy gets cancelled and the 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 1 shall be the sole responsibility of the insurer as per the rules and regulations laid down by the IRDAI. You understand that insurejoy.com 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 quick and fast refunds.
(b) Chargeback As a card holder you may dispute a transaction carried out through our Website and file a chargeback 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:
1. 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.
2. 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.
3. In case your insurance policy application is rejected by the insurer, post your medical test.
4. Our Company shall not be liable to you, in any form or manner whatsoever, for any claims, disputes, or proceedings which may arise in connection with Chargeback initiated by you in the circumstances as specified under (a), (b) and (c) herein above.
8. Additional Terms and Conditions of proposal form (applicable for health insurance products only):
(i) 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.(ii) 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.
(iii) 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.
(iv) 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.
(v) You authorize the Insuregram Insurance Brokers Pvt Ltd (insurejoy.com)/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.
(vi) 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.
(vii) 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.”
9. Customer Due Diligence requirements (CDD)
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.10. License Disclaimer
Nothing on any Insuregram Insurance Brokers Pvt Ltd (insurejoy.com website shall be construed as conferring any license under any of Insuregram Insurance Brokers Pvt Ltd (insurejoy.com)'s or any third party's intellectual property rights, whether by estoppel, implication, or otherwise.11. Claim Settlement
Claim settlement is the sole responsibility and at the discretion of the insurance companies, regulated by IRDA. The settlement will take place between the customers and the respective insurance company and insurejoy.com shall not be responsible for the same in any manner. Although we may assist you in forwarding the case to the insurance company, we shall not be liable to any party involved in case the claim is declined, or honored.12. Links to other websites & Third Party information
Our website may contain links to other websites of interest. However, once you have used these links to leave our site, you should note that we do not have any control over that other website. Therefore, we cannot be responsible for the protection and privacy of any information which you provide while visiting such sites and such sites are not governed by this privacy statement. You should exercise caution and look at the privacy statement applicable to the website in question. We may include or offer third party products or services on our website. These third party sites have separate & independent privacy policies. We therefore have no responsibility or liability for the content and activities of these linked sites.13. Trademarks & Copyright
All trademarks, service marks, trade names, logos, icons and domain names located on this website are the property of insurejoy.com. Any logos, trade-marks, service marks and domain names and all related intellectual property rights, of the companies whose sites we search in providing the service, belong to those companies, and you may not reproduce them without their prior written consent. Except for them, all intellectual property rights including, without limitation, all logos, trademarks, service marks, domain names, database rights, rights in design, rights in know-how, patents and rights in inventions (in all cases whether registered or unregistered and including all rights to apply for registration) and all other intellectual or industrial property rights in any jurisdiction in any information, content, materials, data or processes contained in or underlying this website and/or the service we provide belong to insurejoy.com. All rights of insurejoy.com in such intellectual property rights are hereby reserved.14. Software licenses
You acknowledge that any software available or provided to you on this website may contain technology that is subject to strict controls by various rules and regulations in India. You hereby agree that you will not transfer or export such software from India (including, for example, providing such software to any foreign person or entity in India) or re-export such software outside India in violation of Indian laws and regulations. insurejoy.com does not authorize the downloading or exportation of any software or technical data from this website to any jurisdiction prohibited by Indian laws and regulations.15. Limitation of Liability
While insurejoy.com uses reasonable efforts to include accurate and up-to-date information on this website, errors or omissions sometimes occur. insurejoy.com makes no warranties or representations as to the accuracy of the content of this website. Under no circumstances, including, but not limited to, negligence, shall insurejoy.com or any party involved in creating, producing, or delivering the website be liable to you for any direct, incidental, consequential, indirect, or punitive damages that result from the use of, or the inability to use, the materials on this website, even if we or our authorized representative has been advised of the possibility of such damages. In no event shall insurejoy's total liability to you for all damages, losses, and causes of action exceed the amount paid by you, if any, for accessing this website. We have the right to add, amend, revise suspend or cancel in whole or in part any of the services which are, or may become, part of the Website, without any prior notice to the Visitors or Customers. Any addition, suspension, revision, amendment, cancellation or suspension shall be effective and binding on the Visitors and Customers. We also assume no responsibility, and shall not be liable for, any damages to, or viruses that may infect, your computer equipment or other property as a result of your access to, use of, or browsing in the website or your downloading of any materials, data, text, images, video, or audio from this website.16. Jurisdiction /Legal
Unless specifically provided herein, insurejoy.com does not represent that the material contained herein is appropriate or available for use in any jurisdiction. Those who choose to access this website do so at their own initiative and are responsible for compliance with local laws. Except as specifically set forth herein, the information contained on this website is not an offer to sell any security, insurance product or other product or service. No security, insurance product or other product or service is offered or will be sold in any jurisdiction in which such offer or solicitation; purchase or sale would be unlawful under the securities, insurance or other laws of such jurisdiction. Some products and services may not be available in all jurisdictions. All disputes shall be subject to the exclusive jurisdiction of the Hyderabad courts only.17. Disclaimer
To the fullest extent permissible pursuant to applicable law, the materials on this website are provided and without warranties of any kind either expressed or implied by insurejoy.com "as is" and its subsidiaries and affiliates, disclaim all warranties, expressed or implied, including, but not limited to, implied warranties of merchantability and fitness for a particular purpose. The information, software, contents, products and services included in or available through our website (insurejoy.com) may include inaccuracies, typographical errors and pricing errors. We assume no responsibility for any error, omission, interruption, deletion, defect, delay in operation or transmission, communications line failure, theft or destruction or unauthorized access to, or alteration of, any User communication or any content provided through the Website. insurejoy.com is not responsible for any problems or technical malfunction of any telephone network or lines, electronic networks, computer online systems, servers or providers, computer equipment, software, failure of any email or players due to technical problems or traffic congestion on the Internet or on any of the services or combination thereof, including any injury or damage to users or to any person's computer related to or resulting from participation or downloading materials concerning the Website or the services. Under no circumstances insurejoy.com. shall be responsible for any loss or damage resulting from use of the website or the services, attendance at an event organized through the website or the services, from any content posted on or through the website or the services, or from the conduct of any users of the website or the services, whether online or offline. The services are provided and as available and insurejoy.com "AS-IS" makes no representations or warranties of any kind as to the website, the services or the content thereof, including without limitation, as to availability of the website and/ or services for access and use. In particular, insurejoy.com expressly disclaims all warranties of fitness for a particular purpose, accuracy, completeness or non-infringement. We cannot guarantee and does not promise any specific results from use of the website and the services. There is no intention or purpose of violating any intellectual property or ancillary rights. All information provided on insurejoy.com is subject to it’s discretion and is likely to change without any notice. Though, any changes in public utility will be communicated on the website. It is a mutual understanding between us and the customers that their association with the website will be at the customers' sole discretion and risk.Service Turn Around Times (TAT)
Life Insurance Products
With accordance to the “ Schedule I “ guidelines which were issued for the Insurance Ecommerce by IRDAI on 9th March, 2017, we at Insuregram Insurance Brokers Private Limited (insurejoy.com), an ISNP follow the below service TAT’s for online sale of Life insurance policies.| Service Parameters | Maximum TAT’s (In Calendar Days) |
|---|---|
| Communication regarding the further requirements raised | 10 Days * T Being the day when the proposal was received or the date when requirement has been raised. |
| Confirmation on acceptance of the proposal form & Provision of the proposal form. | 10 Days |
| Refund of the initial premium post cancellation of the proposal | 10 Days |
| Refund requests towards free look-in Cancellation, Withdrawal and Surrenders | 10 Days |
| Acknowledgement Grievance | 2 Days |
| Final response for the Grievances / Complaints | 14 Days *As Per IRDAI Guide Lines |
| Compliance of KYC Norms | KYC Documents are mandatory for issuing an insurance policy. |
Health Insurance Products
With accordance to the “ Schedule I “ guidelines which were issued for the Insurance Ecommerce by IRDAI on 9th March, 2017, we at Insuregram Insurance Brokers Private Limited (insurejoy.com), an ISNP follow the below service TAT’s for online sale of Health Insurance products.| Service Parameters | Maximum TAT’s |
|---|---|
| Communication on the proposal raising additional requirements on the proposal | 10 Days * T Being the day when the proposal was received or the date when requirement has been raised. |
| Confirmation on acceptance of the proposal form | 10 Days |
| Refund of proposal post cancellation of the proposal | 10 Days |
| All refunds requests towards free look-in cancellation, withdrawal and surrenders | 10 Days |
| Acknowledgement to Grievance | 2 Days |
| Final response for the Grievances | 14 Days *As Per IRDAI Guide Lines |
| Compliance of KYC Norms | KYC Documents are mandatory for issuing an insurance policy. |
Non-Life Insurance Products (Two wheeler/Car/Travel)
With accordance to the “ Schedule I “ guidelines which were issued for the Insurance Ecommerce by IRDAI on 9th March, 2017, we at Insuregram Insurance Brokers Private Limited (insurejoy.com), an ISNP follow the below service TAT’s for online sale of General Insurance products.| Service Parameters | Maximum TAT’s |
|---|---|
| Communication on the proposal raising additional requirements on the proposal | 5 Days |
| Confirmation on acceptance of the proposal form | 10 Days |
| Refund of proposal post cancellation of the proposal | 10 Days |
| All refunds requests towards free look-in cancellation | 10 Days |
| Grievance acknowledgement | 2 Days |
| Final response for the grievance | 14 Days |
| Compliance of KYC Norms | KYC Documents are mandatory for issuing an insurance policy |
Procedure process for pre-sales solicitation along with timelines
1. Filling up proposal form – Once product is finalized, next step is to fill-up insurance proposal form on the website. Upon clicking “Buy Now” button you will be referred to proposal form. It takes only 10-15 minutes to fill-up an insurance proposal form.While filling up the form, please remember these seven points:
- Fill up the form on your own: Many people make the mistake of asking the agent to fill up the insurance form. Don’t do it. Fill up the form all by yourself.
- Disclose all medical conditions: The medical history should be mentioned. If you had a condition sometime in the past but got cured, you have to mention it. Otherwise the claim will be rejected.
-
Disclose Other Insurance Policies:
Mention all the policies taken from any insurer
– whether the same or others. - Fill In Correct Details: Exact details like height, weight, reasons of death of family members, etc have to be given.
- Disclose Vocation, Interests: Reveal all important facts like whether you go for adventure sports such as paragliding, rock climbing, etc.
- Occupation: Mention the nature of job. Insurance rates are higher for those hazardous jobs such as aviation. It needs to be declared.
-
Go Through Medical Tests:
Insist on going through the medical tests. It will strengthen your case while filing claims.
Once Proposal form is filled up, proposal data is transferred digitally to insurance company in few seconds for further processing of the proposal.
Generally, it takes 24 hours to 48hours for insurance company to complete the underwriting process. Insurance company can accept at standard terms, accept at modified terms or decline/ postpone the proposal.
3. Compliance of KYC Norms - Under KYC, financial institutions including insurance companies, collect certain important information pertaining to the identity of the client - whether an individual or institutional. This is done in order to increase the legal vigilance so that the cases of fraudulent monetary transactions, money laundering etc., can be minimized.
The following documents are declared as OVDs (Officially Valid Documents) by the Central Government for the purposes of KYC procedure:
• PAN Card
• Aadhaar Card Passport
• Driving License
• Voter’s Identity Card
• NREGA Card
Proposed insured needs to provide appropriate KYC document in digital form to insurance companies, which can be directly uploaded at insurer’s website or the same can be sent to insurejoy.com team at [email protected] , who, upon receiving the KYC and other documents from customer, forward the same to insurer.
4. Payment of Premium – after filling up the proposal form / providing basic customer details customer is transferred to insurer’s payment gateway once customer clicks on “Pay / payment” link. Payment gateway offers different modes of digital payment e.g. Credit Card, Debit Card, Netbanking, UPI fund transfer etc.
5. Medical Tests – Once all the details are submitted to insurer along with payment, in some of the cases (especially high sum assured) insurer also ask for medical tests of the proposed insured. Insurer’s new business team immediately contacts the customer and TPA (Third party administrator) to conduct medicals and collect medical reports to facilitate underwriting.
Normally, it takes 1-4 days, depending on availability of customer and medical centers, to conduct medicals and get the medical reports from medical centers
Process Note for post solicitation process
• insurejoy.com shall provide a facility to the policyholders to log complaints online or through calls and shall acknowledge the receipt of the complaint in not more than five working days.• insurejoy.com shall ensure that the grievance is resolved to the fullest satisfaction of the policyholder;
• insurejoy.com shall ensure that on completion of online transaction, for payment of premium and sale of the policy, the insurer shall generate the e-premium receipt and send the same to the prospect through email immediately and the Policy document bond alongwith copy of the proposal form and other underwriting documents within the timelines prescribed under lhe IRDA's (Protection of Policyholders lnterest) Regulations, 2017 and amendments thereto.