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Did you know that medical inflation in India is the highest in Asia at 14%? This means your medical expenses will become costlier by 14% with each passing year. The higher medical costs go, the more money you could end up spending from your pocket if a medical emergency hits and you are uninsured.

The possibility of a medical emergency becomes even more likely as you get older and are prone to multiple medical conditions. The expenses associated with serious chronic illnesses like diabetes, blood pressure, heart disease, arthritis etc., can set you back significantly. Hence, having the right Health Insurance is of paramount importance as it can help you avoid financial duress in the future.

Read on to learn more about Health Insurance for senior citizens, what makes it a must-have and other important related information.

What are Health Insurance plans for senior citizens?

Insurance companies have a variety of insurance plans designed to suit specific age groups. These can be customised to suit individual needs. Today, insurers offer specifically tailored Health Insurance policies for senior citizens. This is because the health issues that people above the age of 60 tend to face are completely different to those faced by younger people. Health Insurance policies can provide the right coverage and financial assistance in these situations.

Also Read: Why Buying Health Cover Is a Must for The Senior Citizens

Why senior citizens should have Health Insurance

Manage rising medical expenses

The human body tends to get weak as it ages, and after a certain point, medical assistance may be essential for survival. A weakened immune system and fragile body can make you susceptible to various problems, for which treatment is becoming increasingly expensive. Meeting these expenses from your savings or investments could significantly impact your financial standing during retirement. A Health Insurance plan can effectively offset such sizable expenses.

Avoid dipping into a retirement fund

As a senior citizen, you may not have a steady income source, and the retirement fund you built up over the years may only be able to sustain your lifestyle expenses. Hence, it is a good idea to take measures that protect your savings from sudden and unforeseen expenses. Health Insurance prevents such sporadic outflows of cash and allows you to retain your hard-earned money for a peaceful retired life.

Meet changing needs

Not all senior citizens have the same medical requirements. This is why Health Insurance plans can be customised to provide different levels of coverage. For instance, if your ailment requires you to make frequent hospital trips (e.g., dialysis), you can find a plan that provides you with adequate coverage for the kind of treatment you need. A Health Insurance plan proves to be quite beneficial during such times.

Also Read: How Can Medical Bills Help Senior Citizens Save Taxes?

Ensure cover for critical illnesses

Cancer is one of the most prevalent and expensive diseases to treat today, with treatment plans costing several lakhs of rupees and sometimes lasting years. As a senior citizen, you are more prone to chronic critical illnesses that can significantly impact your savings. And this could especially become a matter of concern at such an advanced age. Health Insurance helps you manage your financial health much more efficiently when you need it the most.

Key features of Senior Citizen Health Insurance

Health insurance plans designed for senior citizens have some unique identifying features, such as the following.

  • Only citizens between the age of 60 and 75 are eligible for these insurance plans.
  • Most plans provide cashless hospitalisation facilities once 24 hours have passed since the patient has been admitted. This eliminates the financial burden of you spending from your own pocket for treatment.
  • Coverage includes both pre-hospitalisation and post-hospitalisation periods.
  • Generally, no pre-medical test is needed to purchase an insurance plan.
  • Once the wait tenure is over, senior citizens can make claims for specific pre-existing diseases and ailments.
  • In some cases, these plans offer preventive medical benefits as insured individuals can avail of health check-ups that may catch conditions well in time.
  • Some insurance plans also cover ambulance charges, daycare expenses etc., further reducing the financial implications of medical conditions.
  • The claim settlement process tends to be faster and hassle-free.

Factors to consider when choosing Senior Citizen Health Insurance

As your needs evolve with age, so does the coverage offered by insurers. So here are some things you should look for when choosing a Health Insurance plan to ensure optimum coverage.

Coverage amount

When you decide to get Health Insurance as a senior citizen, it is crucial to realise your present financial position. This is because rising medical expenses can empty your pockets very quickly. A high coverage amount can help you bear greater expenses with relative ease and ensures peace of mind in an overwhelming situation. While it is generally advisable to keep Health Insurance coverage between 5 to 10 times your annual income, an even higher coverage may be required in the case of senior citizens, particularly if they have been diagnosed with chronic illnesses. However, if a higher premium is a concern, it is preferable to have a sum insured that is at least equal to or greater than the annual medical expenses.

Waiting period

Most insurers mandate a specific waiting period of a couple of years before the coverage for a particular illness gets included in the insurance plan. If you are in immediate need of medical assistance, you should opt for the Health Insurance policy that requires the least amount of waiting time.

Renewal policy

As you get older, it might be challenging to remember specific dates, especially insurance renewal. Moreover, many insurers have a cut-off period, which can make it worse. It can become tedious to keep track of renewal dates and follow through. To avoid such situations, it may be prudent to choose a lifetime renewal option when purchasing a Health Insurance plan.

Secondly, you must also note the entry age and the age up to which your policy is valid. As the severity of medical conditions increases with age, many insurers cap the validity at 55 to 60 years of age. You should carefully check these terms and choose a policy which goes up to 80 years of age.

Pre-existing illnesses

At an advanced age, you may already have a specific pre-existing illness which requires medical care. When you buy Health Insurance, remember to check if the policy offers adequate coverage for such pre-existing illnesses. Sometimes, insurers are known to reject claims for certain ailments, which is why it is a good idea to make them a part of your plan right from the start.

Cashless hospitalisation benefit

Insurance companies usually have tie-ups with various hospitals that form a part of their network hospitals. Availing of medical treatment from these hospitals ensures you do not have to pay for the treatment from your pocket, as the hospital settles the bill directly with the insurer. This facility, called cashless hospitalisation benefit, helps in the hassle-free settlement of your medical bills.

Preventive health check-up

Some insurers provide an additional benefit that covers the cost of regular health check-ups and screenings. This benefit is known as preventive health check-ups, and the same helps in the early detection of any potential health issues. Selecting policies that offer this benefit can help you cut down on costs associated with such check-ups. Usually, policyholders become eligible for preventive health check-ups after completing a specific waiting period.

Availability of different riders

Riders are add-on options that increase the scope of coverage of your Health Insurance plan. For instance, some policies offer an OPD rider that covers expenses related to outpatient consultations, diagnostics, and pharmacy bills. Another example is a Critical Illness rider, which covers critical illnesses, such as cancer (at certain stages), kidney failure, strokes, etc. These riders can be valuable, especially as you age and become prone to developing certain health conditions. However, the availability of riders can vary among insurers and also means higher premiums.

Also Read: Choosing the Right Health Insurance for Senior Citizens

Common inclusions under Senior Citizen’s Medical Insurance

Here’s a list of features that are commonly included in Senior Citizen’s Medical Insurance policies.

  • Hospitalisation expenses

    • Financial cover for inpatient hospitalisation expenses, including room charges, doctor's fees, nursing charges, and other medical expenses incurred during hospitalisation.

  • Pre-existing diseases

    • Some policies may cover pre-existing diseases after a waiting period.

  • Daycare procedures

    • Coverage for specified daycare treatments that do not require 24-hour hospitalisation.

  • Ambulance charges

    • Reimbursement of ambulance charges incurred during an emergency.

  • Pre and post-hospitalisation expenses

    • Coverage for medical expenses incurred immediately before and after hospitalisation (for up to 30 days and post-hospitalisation for up to 60 days).

  • Domiciliary hospitalisation

    • Coverage for medical treatment taken at home when hospitalisation is not possible.

  • Annual preventive health check-up

    • Costs associated with full-body health check-ups that are done to detect any potential future ailments.

Common exclusions from Senior Citizen Health Insurance plans

It is equally important to know the different conditions that are not covered under a senior citizen Health Insurance policy. Here are some of the most common ones.

Injuries from adventure sports

Injuries from activities that involve any untoward risk are commonly excluded from a plan’s coverage by insurers. Although treatment may be expensive, these are considered products of unwarranted risk.

Injuries from war

Wars and military operations can be devastating to a great extent and are therefore not a part of senior citizens’ Health Insurance coverage.

Injuries from substance abuse

Substance abuse can cause long-lasting harm, and injuries arising out of it are considered self-inflicted. These are not covered under your insurance policy.

Venereal diseases

The treatments for such diseases are usually expensive, crucial, and sometimes impossible. Thus, these diseases are not covered by insurers in any Health Insurance policy.

Cosmetic corrections

Cosmetic surgeries do not constitute any form of medical necessity and are therefore excluded from Health Insurance policies.

Key things to remember when buying Senior Citizen Insurance

Here are some things you need to remember when buying Senior Citizen Health Insurance.

Premiums

Insuring a senior citizen may prove a bigger risk for insurance companies than insuring a young adult. This is because of the complications associated with age and the resulting expenses. It is always advisable to purchase a long-term insurance plan early on in life and reap its benefits later.

Entry age limit

Individual Health Insurance plans come with a hard cap on the entry age. This age limit determines whether or not you are eligible for an insurance plan. Since this is also a deterrent at an advanced age, an early purchase of Health Insurance is advised. Generally, insurance plans are offered to senior citizens between the ages of 60 and 75.

Mandatory full-body check-up

When the health risks of an individual are higher, most insurance companies prefer to either reject the insurance application or charge a higher premium. In most cases involving senior citizens, a full body check-up may be mandatory.

Waiting period

Most Health Insurance policies for senior citizens have a waiting period for pre-existing illnesses and certain other conditions. This generally is the first two to three years of the policy, during which you cannot claim against specific medical conditions. This is another reason experts advise you to buy Health Insurance as soon as possible.

Co-payment clause

As a senior citizen, you are prone to various conditions that make you a higher-risk customer. This invariably leads to the inclusion of a ‘co-payment’ clause in your policy wherein you may be required to pay a portion of your hospital bill. For example, the co-payment clause could require you to pay 25% of the bill while the insurer pays 75%. Ideally, if your premium is high, you will bear a lower co-payment burden and vice versa.

Associated services

These refer to non-hospitalisation services but those included in your medical treatment, such as ambulance charges, diagnosis costs, lab testing costs, consultations, etc. Although these costs add to your financial burden, not all insurers may cover them. This makes it essential to thoroughly read all the inclusions and exclusions mentioned in your Health Insurance policy.

In fact, this is a key difference between a senior citizen Mediclaim policy and Health Insurance. A Mediclaim policy for senior citizens covers only hospitalisation charges, whereas a Health Insurance plan covers everything, including pre-and post-hospitalisation costs.

Also Read: What Is the Difference Between a Mediclaim and Health Insurance?

Tax benefits of Senior Citizen Health Insurance

Under Section 80D of the Income Tax Act, you can claim tax deductions of up to ₹ 50,000 for premiums paid on Health Insurance for Senior Citizens

How to apply for Senior Citizen Health Insurance

There are two ways to apply for senior citizen Health Insurance policies – online and offline. The offline mode involves visiting the office of your preferred insurer and providing all details physically in person.

For online application, you can follow the below-mentioned steps:

Step 1: Log on to the website of the insurance provider of your choice and fill in the basic personal details, such as your name and contact details.
Step 2: The insurance provider will respond with a quote, or an online calculator will give you a tentative idea of the premium you have to pay.
Step 3: You will then be asked if you wish to add any ‘riders’ (additions to the basic plan) and customise it for your needs. It is advisable to go through this step carefully, evaluate your needs and select a rider that will offer better protection.
Step 4: Once you have completed this process, you can make the premium payment online, after which you will receive the policy documents via e-mail and WhatsApp.

The online process is quite easy and less physically tedious for senior citizens.

Claim settlement process

Follow these steps to initiate a claim under a Senior Citizen Health Insurance plan.

For cashless claims:

  • Make sure to choose a network hospital for your treatment if you want to avail the cashless claim facility.
  • Next, submit the claim form to your insurer’s Third-Party Administrator (TPA).
  • Your insurer will then review the submitted documents and assesses the claim.
  • Your insurer will determine the eligible claim amount after processing your claim. If the claim is approved, the network hospital will settle the amount with your insurer directly.

For reimbursement claims:

  • Inform your insurer and apply for a reimbursement claim in case of medical treatments or hospitalisation at your preferred hospital.
  • Gather the necessary documents from the hospital. These documents can include the discharge summary, hospital prescriptions and medical reports.
  • Submit the documents to your insurer. This step can be done online or at your insurer’s local branch office.
  • If your claim is approved, the reimbursement amount will be credited to your bank account.

Key Takeaway

  • Health Insurance becomes more and more crucial as your age advances, especially because of the constantly rising medical costs in India.
  • Entry age barrier, waiting period and co-payment clauses are some critical elements that can become hurdles for senior citizens who want to get an insurance policy.
  • Always read all the inclusions and exclusions of the Health Insurance policy you choose to be completely aware of the level of coverage to which you are entitled.
  • It is possible to get Health Insurance online, and it is much more convenient than in-person visits to the insurance provider.

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FAQs – Frequently Asked Questions


  • Can I get Health Insurance after 60 years ?

    Yes, citizens in the age range of 60 to 75 are eligible for insurance plans.

  • Is it wise to take Health Insurance for senior citizens ?

    It is wise to have a Health Insurance policy for all ages. It helps preserve financial stability when expensive treatments are on the horizon.

  • Why is Health Insurance for senior citizens important ?

    Health Insurance for senior citizens helps in the following ways:

    • Provides financial support during times of need.
    • Prevents a large outflow of money when income sources are few to none.
    • Covers major critical illnesses.
    • Pre- and post-hospitalisation expenses are covered to lighten the load.
    • The insurer’s vast network of hospitals ensures that you get the care you need and helps with cashless bill settlements.

  • Which insurance is best for ​those ​above 60 years ?

    Choosing the right Health Insurance policy depends on numerous factors, such as:

    • Treatment requirements
    • Coverage amount
    • Pre-existing illnesses, if any
    • Critical illness, if any
    • Waiting period
    • ​​The financial​ situation of the buyer
    Consider all factors before purchasing a Health Insurance policy for senior citizens above the age of 60.

  • Can a 70-year-old get Health Insurance ?

    Yes. Most insurers have a maximum age limit of 65 years, but some others might allow older senior citizens to get Health Insurance in the form of comprehensive coverage.

MORE RELATED ARTICLES

Government Health Insurance Schemes for Senior Citizens

List Of Diseases Covered Under Health Insurance

Is Knee Replacement Surgery Covered by Health Insurance?

The Types and Features of General Insurance You Need to Know

Health Insurance Portability: What is Porting of Health Insurance?

Third-Party Administrator: What is a TPA in health insurance?

What is No-Claim Bonus (NCB) in Insurance?

Section 80D of Income Tax Act - Deduction Under Medical Expense

What is The Convalescence Benefit in Health Insurance?

 

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The information contained herein is generic in nature and is meant for educational purposes only. Nothing here is to be construed as an investment or financial or taxation advice nor to be considered as an invitation or solicitation or advertisement for any financial product. Readers are advised to exercise discretion and should seek independent professional advice prior to making any investment decision in relation to any financial product. Aditya Birla Capital Group is not liable for any decision arising out of the use of this information.

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The Facilities Provider, ABCL, ABC Companies and the providers of information shall not be liable, at any time, for any failure of performance, error, omission, interruption, deletion, defect, delay in operation or transmission, computer virus, communications line failure, theft or destruction or unauthorized access to, alteration of, or use of information contained at this Website.

Manner of Use of Personal Information

All Personal Information including Sensitive Personal Information provided/related to you, shall be stored/used/processed/transmitted expressly for the Purpose or facilities indicated thereon at the time of collection and in accordance with the Privacy Policy. Other than those otherwise indicated and agreed by You, this Website do not collect or store or share your Personal Information. Aditya Birla Capital is the brand and accordingly all products and facilities are provided by respective ABC Companies as applicable. Therefore, for any of these Purposes, the Website will use ABC Companies their authorized third party vendors, agents, contractors, consultants or facilities providers (individually a ‘Third Party Service Provider’ and collectively, the “Third Party Service Providers”) and to that extent you understand and authorize the Facilities Provider to share/transmit such information to Third Party Service Providers. Such sharing of information will be solely for the purpose to fulfill / complete / authenticate your specific requests/transaction execution and for providing information about any ABC Companies product or facilities or services or for data analytics or to deliver to you any administrative notices, alerts or communications relevant to your Purpose (and which may include sending promotional emails or SMS or calls or any other mode permitted under law) or to analyze the usage and improve the facilities/solutions offered or for any research or troubleshooting problems, detecting and protecting against errors or to improve features, tailor the facilities on the Website to your interests, and to get in touch with you whenever necessary.

Except in the manner as stated in the Privacy Policy, the Website will not disclose your Personal Information with any affiliated or unaffiliated third parties,

You may receive e-mails /communications/notifications from the Third Party Services Providers regarding facilities updates, information/promotional e-mails/SMS and/or update on new product announcements/services in such mode as permitted under law.

Use of Website in India

This Website is controlled and operated from India and there is no representation that the Materials/information are appropriate or will be available for use in other locations. If you use this Website from outside the India, you are entirely responsible for compliance with all applicable local laws. There is no warranty or representation that a user in one region may obtain the facilities of this website in another region.

Information published on the Website may contain references or cross references to products, programs and facilities offered by ABC Companies/third parties that are not announced or available in your country. Such references do not imply that it is intended to announce such products, programs or facilities in your country. You may consult your local advisors for information regarding the products, programs and services that may be available to you.

In your use of the Website, you may enter correspondence with, purchase goods and/or facilities from, or participate in promotions of advertisers or members or sponsors of the web site, including those of ABC Companies. Unless otherwise stated, any such correspondence, advertisement, purchase or promotion, including the delivery of and the payment for goods and/or facilities, and any other term, condition, warranty or representation associated with such correspondence, purchase or promotion, is solely between you and the applicable ABC Companies and/or third parties.

You agree that Facilities Provider / ABC Companies has no liability, obligation or responsibility for any such correspondence, purchase or promotion between you and any other ABC Companies and/or third parties.

Third party websites

This Website may be linked to other websites (including those of ABC Companies) on the World Wide Web that are not under the control of or maintained by ABCL. Such links do not indicate any responsibility or endorsement on our part for the external website concerned, its contents or the links displayed on it. These links are provided only as a convenience, in order to help you find relevant websites, facilities and/or products that may be of interest to you, quickly and easily. It is your responsibility to decide whether any facilities and/or products available through any of these websites are suitable for your purposes. The Facilities Provider or ABCL is not responsible for the owners or operators of these websites or for any goods or facilities they supply or for the content of their websites and does not give or enter into any conditions, warranties or other terms or representations in relation to any of these or accept any liability in relation to any of these (including any liability arising out of any claim that the content of any external web site to which this web site includes a link infringes the intellectual property rights of any third party).

USE of APP

In case any facilities/services, access/dissemination of information or execution of transaction is done through use of any APP related to ABC Companies, the additional terms and conditions governing the Use of APP shall be applicable and to be read along these Terms of Use.

Postings and monitoring

The Facilities Provider or ABCL or ABC Companies does not routinely monitor your postings to the Website but reserves the right to do so if deemed necessary if it is related to the facilities offered on the web site and to comply with law. However, in our efforts to promote good citizenship within the internet community, if the Facilities Provider or ABCL or ABC Companies becomes aware of inappropriate use of the Website or any of its facilities, any information, opinions, advice or offers posted by any person or entity logged in to the Website or any of its associated sites is to be construed as public conversation only, and the Facilities Provider or ABC Companies shall not be liable or responsible for such public conversation. You agree that in such cases, we will respond in any way that, in our sole discretion, as deemed appropriate. You acknowledge that Facilities Provider or ABC Companies will have the right to report to law enforcement authorities any actions that may be considered illegal, as well as any information it receives of such illegal conduct. When requested, ABC Companies/Facilities Provider will co-operate fully with law enforcement agencies in any investigation of alleged illegal activity on the internet.

Submissions and unauthorized use of any Materials contained on this Website may violate copyright laws, trademark laws, the laws of privacy and publicity, certain communications statutes and regulations and other applicable laws and regulations. You alone are responsible for your actions or the actions of any person using your user name and/or password. As such, you shall indemnify and hold Facilities Provider, ABCL / ABC Companies and its officers, directors, employees, affiliates, agents, licensors, and business partners harmless from and against any and all loss, costs, damages, liabilities, and expenses (including attorneys' fees) incurred in relation to, arising from, or for the purpose of avoiding, any claim or demand from a third party that your use of the Website or the use of the Website by any person using your user name and/or password (including without limitation your participation in the posting areas or your submissions) violates any applicable law or regulation, or the rights of any third party.

We reserve the right to terminate access to this Website at any time and without notice. Further this limited license terminates automatically, without notice to you, if you breach any of these Terms of Use. Upon termination, you must immediately destroy any downloaded and printed Materials.

If you come across any breaches/violation or offensive material you must report to us at abc.secretarial@adityabirla.com

Use of Cookies

You agree and understand that the Website will automatically receive and collect certain anonymous information in standard usage logs through the Web server, including computer/computer resource-identification information obtained from "cookies" sent to your browser from a web server or other means as explained in the Privacy Policy.  

Facilities Changes and Discontinuation

The Website reserves the right to discontinue or suspend, temporarily or permanently, the facilities. You agree that the Facilities Provider/ ABC Companies will not be liable to you in any manner whatsoever for any modification or discontinuance of the facilities. The format and content of this Website may change at any time. We may suspend the operation of this Website for support or maintenance work, in order to update the content or for any other reason.

ABCL, ABC Companies, and its directors, employees, associates, or other representatives shall not be liable for any damages or injury, arising out of or in connection with the use, or non-use including non-availability of the Website and also for any consequential loss or any damages caused because of non-performance of the system due to a computer virus, system failure, corruption of data, delay in operation or transmission, communication line failure, or any other reason whatsoever. The Website will not be responsible for any liability arising out of delay in providing any information on the Website.

Compliance with the Law

You agree that you will not:

  • Use any robot, spider, scraper, deep link or other similar automated data gathering or extraction tools, programme, algorithm or methodology to access, acquire, copy or monitor the Website, or any portion of the Website.
  • Use or attempt to use any engine, software, tool, agent, or other device or mechanism (including without limitation, browsers, spiders, robots, avatars or intelligent agents) to navigate or search the Website, other than the search engines generally available by third party web browsers
  • Post or transmit any file which contains viruses, worms, Trojan horses or any other contaminating or destructive features, or that otherwise interferes with the proper working of the Website or the facilities.
  • Attempt to decipher, decompile, disassemble, or reverse engineer any of the software, comprising or in any way making up a part of the Website or the facilities.
  • You agree not to use the facilities for illegal purposes or for the transmission of material that is unlawful, harassing, libelous (untrue and damaging to others), invasive of another's privacy, abusive, threatening, or obscene, or that infringes the rights of others.

Restrictions on Commercial Use or Resale

Your right to use the facilities is personal to you; therefore, you agree not to resell or make any commercial use of the facilities. In addition, the Website welcomes your feedback as a user of the facilities. Any feedback you provide will become the confidential and proprietary information of the Website, and you agree that the Website may use in any manner and without limitation, all comments, suggestions, complaints, and other feedback you provide relating to the Website. The Website shall have a worldwide, royalty-free, non-exclusive, perpetual, and irrevocable right to use feedback for any purpose, including but not limited to incorporation of such feedback into the Website or other Website software or facilities.

No Endorsements

All product and facilities marks contained on or associated with the facilities that are not the Website marks are the trademarks of their respective owners. The Website would require you to respect the same. References to any such names, marks, products or facilities of third parties or hypertext links to third party sites or information does not imply the Website’s endorsement, sponsorship or recommendation of the third party, information, product or facilities.

Promotional Offers

You may receive from time to time, announcement about offers with intent to promote this Website and/or facilities/products of ABC Companies (“Promotional Offers”). The Promotional Offer(s) would always be governed by these Terms of Use plus certain additional terms and conditions, if any prescribed. The said additional terms and conditions, if prescribed, would be specific to the corresponding Promotional Offer only and shall prevail over these Terms of Use, to the extent they may be in conflict with these Terms of Use. The Website reserves the right to withdraw, discontinue, modify, extend and suspend the Promotional Offer(s) and the terms governing it, at its sole discretion.

Charges for use of Website

There are no charges or fees to be paid by you for use of this Website. However, you are responsible for all telephone access fees and/or internet service fees that may be assessed by your telephone and/or internet service provider. You further agree to pay additional charges, if any levied by Third Party Service Provider(s), for the facilities provided by them through the Website (Additional Charges).

No Endorsement

You are advised to be cautious when browsing on the internet and to use good judgment and discretion when obtaining information or transmitting information. From this Website, users may visit or be directed to third party web sites. The Website makes no effort to review the content of these web sites, nor is the Website or its licensors responsible for the validity, legality, copyright compliance, or decency of the content contained in these sites.

In addition, the Website does not endorse or control the content of any other user and is not responsible or liable for any content, even though it could be unlawful, harassing, libelous, privacy invading, abusive, threatening, harmful, vulgar, obscene or otherwise objectionable, or that it infringes or may infringe upon the intellectual property or other rights of another. You acknowledge that the Website does not pre-screen content, but that the Website will have the right (but not the obligation) in their sole discretion to refuse, edit, move or remove any content that is available via the facilities.

Electronic Communications

These Terms of Use and any notices or other communications regarding the Facilities may be provided to you electronically, and you agree to receive communications from the Website in electronic form. Electronic communications may be posted on the Website and/or delivered to your registered email address, mobile phones etc either by Facilities Provider or ABC Companies with whom the services are availed. All communications in electronic format will be considered to be in "writing". Your consent to receive communications electronically is valid until you revoke your consent by notifying of your decision to do so. If you revoke your consent to receive communications electronically, the Facilities Provider shall have the right to terminate the facilities.

Assignment

You shall not assign your rights and obligations under this Agreement to any other party. The Website may assign or delegate its rights and/or obligations under this Agreement to any other party in future, directly or indirectly, or to an affiliated or group company.

Legal Disclaimers

The information provided on or through the Website is for general guidance and information purposes only and they do not in any manner indicate any assurance or opinion of any manner whatsoever. Any information may be prone to shortcomings, defects or inaccuracies due to technical reasons. Certain information on Website may be on the basis of our own appraisal of the applicable facts, law and regulations in force at the date hereof.

The information (and opinions, if any) contained on the Website may have been obtained from public sources believed to be reliable and numerous factors may affect the information provided, which may or may not have been taken into account. The information provided may therefore vary (significantly) from information obtained from other sources or other market participants. Any reference to past performance in the information should not be taken as an indication of future performance. The information is dependent on various assumptions, individual preferences and other factors and thus, results or analyses cannot be construed to be entirely accurate and may not be suitable for all categories of users. Hence, they should not be solely relied on when making investment decisions. Your investment or financial decision shall always be at your own discretion and based on your independent research; and nothing contained on the Website or in any information would construe ABCL/ABC Companies or any of its employees/authorized representative as having been in any way involved in your decision making process. Any information and commentaries provided on the Website are not meant to be an endorsement or offering of any stock or investment advice.

Nothing contained herein is to be construed as a recommendation to use any product, process, equipment or formulation, in conflict with any patent, or otherwise and Facilities Provider / ABCL/ABC Companies makes no representation or warranty, express or implied that, the use thereof will not infringe any patent, or otherwise. Information on this Website sourced from experts or third party service providers, which may also include reference to any ABCL Affiliate. However, any such information shall not be construed to represent that they belong or represent or are endorsed by the views of the Facilities Provider or ABC Companies. Any information provided or sourced from ABCL Affiliate belongs to them. ABCL is an independent entity and such information from any ABCL Affiliate are not in any manner intended or to be construed as being endorsed by ABCL or Facilities Provider. The information does not constitute investment or financial advice or advice to buy or sell, or to endorse or solicitation to buy or sell any securities or other financial instrument for any reason whatsoever. Nothing on the Website or information is intended to constitute legal, tax or investment advice, or an opinion regarding the appropriateness of any investment or a solicitation of any type. Investment in the securities market and any financial instruments are inherently risky and you shall always assume complete and full responsibility for the outcomes of all the financial or investment decisions that you make, including but not limited to loss of capital. You are therefore advised to obtain your own applicable legal, accounting, tax or other professional advice or facilities before taking or considering an investment or financial decision.

No Solicitation

No Information at this Website shall constitute an invitation to invest in ABCL or any ABC Companies. These are meant for general information only or to meet statutory requirements or disclosures. ABCL or any of its employees are in no way liable for the use of the information by you, when making any decision or investing or trading through any investment vehicles or ABC Companies, or any other third party which may be engaged in offering of these services.

The information contained on this Website does not represent and should not be used to construe (i) the terms on which a new transaction would be entered into by ABCL or ABC Companies, (ii) the terms on which any existing transactions could be unwound by ABCL or ABC Companies, (iii) the calculation or estimate of an  amount that would be payable following an early termination of any past/existing transactions or (iv) the valuations given to any transactions by ABCL or ABC Companies in their books of account for financial reporting, credit or risk management purposes.

Statutory Disclosure

ABCL and ABC Companies are engaged in a broad spectrum of activities in the financial services sectors. You understand and acknowledge that Aditya Birla Money Limited (‘ABML’), Aditya Birla Finance Limited (‘ABFL’) and Aditya Birla Sun Life Asset Management Company Limited and trustees and sponsor of Aditya Birla Sun Life Mutual Fund (‘ABSLMF’) are group companies and ABML / ABFL also acts as a distributor of ABSLMF.  Any recommendation or reference of schemes of ABSLMF if any made or referred on the Website, the same is based on the standard evaluation and selection process, which would apply uniformly for all mutual fund schemes. You are free to choose the execution facilities in the manner deemed fit and proper and no commission will be paid by ABSLMF to ABML / ABFL if you choose to execute a transaction with ABSLMF on the Website, unless otherwise agreed by you and ABML/ABFL separately. Information about ABML/ABFL, its businesses and the details of commission structure receivable from asset management companies to ABML/ABFL, are also available on their respective Website.

Similarly Aditya Birla Money Insurance Advisory Services Limited and Aditya Birla Insurance Brokers Limited are insurance intermediaries and engaged in the distribution of Insurance Products and it may services may include products of Aditya Birla Sun Life Insurance Company Limited and Aditya Birla Health Insurance Company Limited. However there is no conflict on these services and commissions if any payable are in accordance of the extant regulations.

Force Majeure

The Facilities Provider, ABC Companies and any of its Third Party Service Providers shall not be liable for any delay or failure in performance resulting directly or indirectly from acts of nature, forces, or causes beyond their reasonable control, including, without limitation, Internet failures, computer equipment failures, telecommunication equipment failures, other equipment failures, electrical power failures, strikes, virus, other malicious computer code, hacking, labour disputes, riots, insurrections, civil disturbances, shortages of labour or materials, fires, flood, storms, explosions, acts of God, war, earthquake, governmental actions, orders of domestic or foreign courts or tribunals, non-performance of third parties, or loss of or fluctuations in heat, light, or air conditioning.

Indemnification

You agree to protect and fully compensate Facilities Provider, ABCL, ABC Companies, subsidiaries, licensors, suppliers and facilities providers, employees, officers and directors, from any and all third party claims, liability, damages, expenses and costs (including but not limited to reasonable attorneys fees) caused by or arising from your use of the facilities, your violation of the Terms of Use or your infringement, or infringement by any other user of your account, of any intellectual property or other right of anyone.

No Waiver

The Facilities Provider, ABC Companies or any of its third party service providers and processor bank/merchants etc. shall not be deemed to have waived any of its/their rights or remedies hereunder, unless such waiver is in writing. No delay or omission on the part of Facilities Providers and ABC Companies, in exercising any rights or remedies shall operate as a waiver of such rights or remedies or any other rights or remedies. A waiver on any one occasion shall not be construed as a bar or waiver of any rights or remedies on future occasions.

Exclusive Agreement

You agree that these Terms of Use are the complete and exclusive statement of agreement supersede any proposal or prior agreement, oral or written, and any other communications between you and the Facilities Provider and its Third Party Service Providers or processor bank/merchants relating to the subject matter of these Terms of Use. These Terms of Use, as the same may be amended from time to time, will prevail over any subsequent oral communications between you and the Website and/or the processor bank.

Termination

Either party can terminate this Agreement by notifying the other party in writing. Upon such termination You will not be able to use the facilities of this Website.

Governing Law and Jurisdiction

The Website specifically prohibits you from usage of any of its facilities in any countries or jurisdictions that do not corroborate to all stipulations of these Terms of Use. The Website is specifically for users in the territory of India. In case of any dispute, either judicial or quasi-judicial, the same will be subject to the laws of India, with the courts in Mumbai having exclusive jurisdiction.

These Terms and Conditions are governed by and to be interpreted in accordance with laws of India, without regard to the choice or conflicts of law provisions of any jurisdiction. You agree, in the event of any dispute arising in relation to these Terms and Conditions or any dispute arising in relation to the Website whether in contract or tort or otherwise, to submit to the jurisdiction of the courts located at Mumbai, India for the resolution of all such disputes.

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