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While life insurance is quite popular in India, many people are potentially unaware of the diverse range of general insurance products that provide cover against specific risks. However, many of these general insurance products can be phenomenal in stirring you out of a crisis.

Thus, it's essential to know what is general insurance, its types, and the benefits available under it.

What Is General Insurance?

General insurance is a type of insurance policy that covers the financial loss suffered due to the loss or destruction of the insured asset. In other words, an insurance policy that doesn't come under the purview of life insurance is general insurance.

Top Advantages of General Insurance Plans

  • General insurance plans can help you get insurance cover against necessary contingencies that life insurance doesn't cover.
  • While life insurance benefits majorly come into play upon the policyholder's death or survival of the policy term, general insurance policies can provide coverage for any risk-covered incident during the policy term.
  • Such plans can reduce the stress on personal finances and savings in times of emergency. Therefore, you have a better chance of staying on course with your investments and savings goals irrespective of the emergency you face.

Types of General Insurance Plans

Health Insurance

Accessing quality healthcare services and infrastructure can be very costly. As a result, your savings and contingency funds can quickly drain out in the case of any medical emergency.

Thus, health insurance is arguably one of the most critical general insurance policies that one should have. It provides coverage for medical expenses such as hospitalisation bills, cost of medicine, treatment, etc., if the insured person must undergo medical treatment for any covered illness.

Features of Health Insurance Plans

  • You can choose between individual and family floater health insurance plans based on you and your family's coverage needs.
  • A proper and adequate health plan can provide extensive coverage on expenses like surgery, ambulance, doctor’s fee, room rent, etc.
  • Health plans can provide cashless treatment benefits where the insurance firm directly pays the medical expenses to the partner hospital subject to pre-agreed terms and conditions.
  • You can enhance your policy coverage by including valuable add-ons such as critical illness rider, maternity cover, room rent waiver, etc.
  • You can claim an income tax deduction on the health insurance premium you pay in a financial year. Such tax deductions are allowed under Section 80D of the Income Tax act 1961. The maximum tax deduction under Section 80D varies as per the following table.

    Sr. No. Type of People Covered by the Health Plan Maximum Deduction Allowed (in Rs)
    1 Policyholder, spouse, and dependent children 25,000.00
    2 All the persons mentioned in Sr. No. 1 and policyholder’s parents, where the parent’s age is below 60 years 50,000.00
    3 All the persons mentioned in Sr. No. 1 and policyholder’s parents, where the parent’s age is above 60 years 75,000.00
    4 i) Policyholder’s parents are above 60 years of age. And
    ii) Policyholder, spouse, or dependent children are above the age of 60 years    		 1,00,000.00



Motor Insurance

Such types of insurance protect vehicle owners from the financial losses arising out of damages that involve their vehicle. Vehicle insurance is classified into two types depending on the type of damages it covers

  • Third-Party Liability

    Third-party insurance only covers the damages caused to the third party by the insured owner’s vehicle. It doesn’t cover the damages caused to the vehicle of the policyholder. Under the Motor Vehicles Act 1988, third-party motor insurance is mandatory in India.

  • Comprehensive Insurance Coverage

    It covers the damages caused to the policyholder's vehicle as well as the third party. Therefore, it offers complete coverage that can better protect you in the event of an accident.

Features of Motor Insurance Plans

  • Motor insurance is available for two-wheelers, four-wheelers, and commercial vehicles.
  • You can include various important add-ons with your comprehensive vehicle insurance, such as NCB protection, engine protection, zero-depreciation, etc.
  • For comprehensive insurance, policyholders can opt for cashless claims at partner garages of the insurance company.
  • You can either buy a single-year vehicle insurance policy or a multi-year policy. The benefits of a multi-year vehicle insurance policy are-
    • You don't have to worry about yearly revisions of premium rates, and the chances of lapses are less.
    • You can save more by buying a multi-year policy compared to a one-year car insurance policy.

Travel Insurance

Facing financial emergencies while travelling can put anyone in unnecessary trouble. Especially, one might feel at a loss if faced with a medical emergency in a foreign land. Travel insurance can cover all such unforeseen emergencies.

In fact, many countries have made travel insurance mandatory for overseas travellers. For example, travel insurance is mandatory while applying for a Schengen visa.

Features of Travel Insurance Plans

  • Travel insurance can cover numerous travel emergencies like loss of luggage, passport, flight delay, trip cancellation, and medical emergencies.
  • It can cover your entire family while traveling.
  • It can provide insurance coverage for a full trip.
  • Travel insurance can be either single-trip or annual multi-trip, depending on the insurance provider.

Home Insurance

A natural or man-made disaster can cause significant damage to someone’s home. However, home insurance can cover the financial loss that individuals might suffer in such an event.

Features of Home Insurance

  • A home insurance policy can cover the following types of damages.
  • Home insurance can provide coverage against natural calamities like floods, storms, earthquakes, etc.
  • Man-made calamities like fire, theft, and riots, can also be covered under home insurance.
  • A home insurance premium can depend on various factors like the coverage amount, age and location of the house, scope of coverage, etc.

Fire Insurance

As the name suggests, such types of insurance provide financial protection against the damages caused by fire to a property or asset.

Features of Fire Insurance Plans

  • Fire insurance can cover damages caused due to fire, lightning, forest fire, bush fire, accidental fire, explosion, or implosion.
  • The insurance usually covers the repairing or replacement cost of the insured asset.
  • Fire insurance can be essential for businesses that are prone to massive damages due to a potential fire.

Other Types of General Insurance Policies

Apart from the types of general insurance discussed until now, there are some other important general insurance products that can be useful for large organisations. These are called corporate general insurance. Following are some of the popular corporate insurance products offered by reputed insurers.

  • Marine Insurance

    • The policy covers the inland movement of consignments and is well suited for firms that deal in cargo shipments.

    Features of Marine Insurance

    • The policy can automatically cover successive shipments until the sum insured is exhausted.
    • All shipments and journeys are covered by an annual premium.
    • A strong network of surveyors is available to facilitate easy insurance claim settlement.
    • A single policy can cover multiple shipments and transits for a certain period.
    • The policy protects both incoming and outgoing consignments to and from India.

  • Engineering Insurance

    • This policy can cover a wide range of expenses such as machinery breakdown, electronic equipment insurance, etc. Therefore, engineering insurance can be ideal for a manufacturing unit. The price of engineering insurance coverage will vary depending on a number of variables, such as the cost of the machinery or equipment being covered, the degree of risk involved with the project, and other elements like the project's location and length.

  • Specialty Lines Insurance

    • Such insurance plans include-

    • Cyber Security Insurance

      • The rise in Internet usage in businesses has also increased the instances of cyber attacks such as hacking, denial of service attacks, etc. The loss is more profound if the business deals with a wide range of data.
      Therefore, cyber security insurance has become important for many corporate houses. It covers data restoration costs, forensics, business interruption losses, etc.

    • Commercial Crime Insurance

      • Workplace fraud is a possibility in every business. So, it’s important to financially protect your business against such incidents through commercial crime insurance. The policy covers the loss of money or securities due to

    • Director’s and Officer’s Insurance

      • The main purpose of the director’s and officer’s insurance is to protect the personal assets of the individual who is a director or a high-ranking officer in the company. D&O insurance policies usually cover a variety of risks, such as accusations of negligence, mismanagement, and breach of fiduciary duty. Additionally, the insurance may pay for settlements, judgments, and defense expenses related to covered claims. The policy can cover the following:

  • Credit Insurance

    • A credit insurance plan protects a business from the risk of non-payment by its customers. Such policies are essential for companies with a significant portion of accounts receivables on their balance sheet and run the risk of huge losses on payment defaults.

  • Miscellaneous Insurance

    • A corporate establishment may need protection such as burglary protection, money insurance, or insurance for portable equipment. All such sundry insurances can be covered by miscellaneous insurance.

  • Employee Benefits Insurance

    • Employee benefits insurance typically covers group health insurance.This type of insurance is a form of insurance that covers employee perks like retirement plans, life insurance, disability insurance, and health insurance. In order to offer their employees these benefits, employers frequently buy this kind of insurance. Such types of insurance benefits can help retain talent in an organisation.

  • Insurance Endorsements

    • A change to an existing insurance contract that modifies the terms or purview of the initial policy is known as an insurance endorsement. You can add, remove, exclude, or change coverage using an endorsement, also known as a "rider." It may be given out when you first buy the insurance, at the time of purchase, or when you renew the coverage. It is an alteration to an insurance contract that has legal force.

  • Example of an endorsement

    • Mr. G chooses All city Insurance Pvt. Ltd. to provide him with motor vehicle insurance for his SUV. He insures his vehicle from unforeseen accidents and risks. The insurance company makes note of all the parts and accessories related to the car and provides a cover for the same. After 3 months, Mr. G decides to install a new CNG kit in his car. In this instance, in order to obtain a cover for it, he would need to notify the underwriter about this new installment. This cover can be placed mid term with the help of an endorsement.

How to Buy General Insurance Plans?

Once you know what is general insurance and the types best suited for your needs, it’s time to buy them. You can consider purchasing the required general insurance plans online, which is the quickest and most hassle-free way.

  1. Visit the official website of the general insurance provider and click on the product you want to purchase.
  2. Enter the relevant details and the amount of coverage you want.
  3. You will instantly get the quotation regarding the premium amount to be paid.
  4. Pay the premium amount online to complete the buying process.

Points to Consider When Buying General Insurance

  • Coverage: Make sure the insurance policy you choose offers the coverage you need by taking into account the kind of coverage you require. For instance, collision and liability coverage may be important when purchasing car insurance, whereas coverage for fire, theft, and natural disasters may be necessary when purchasing home insurance.
  • Premiums: Verify that you can afford the insurance by estimating their cost. The best deal can be found by comparing various insurance companies.
  • Deductibles: The sum of money you must spend out-of-pocket before your insurance coverage begins is known as a deductible. Choose an insurance with a deductible that is fair for you based on how much you can afford to pay in deductibles.
  • Exclusions: Exclusions in insurance policies frequently list what is not protected. Make sure you are aware of these limitations and that they will not have an impact on the type of coverage you require.
  • Limits: Often, the amount of coverage that insurance policies offer is limited. Understand your policy's limits and make sure they're sufficient to cover any possible losses.
  • Reputation of the insurer: Pick an insurance provider with a solid track record of quickly and fairly handling claims. To determine the calibre of service, check out evaluations and ratings from unbiased sources.
  • Customer service: In the event that you need to file a claim or have any questions or concerns, finding an insurer with excellent customer service is essential. Take into account the customer service's accessibility, the insurer's speed, and the calibre of the customer service agents.

Documents Needed to Buy General Insurance Plans

While various plans might require different documents, the following are some standard documents that must be submitted.

  • Proof of identity, age, and address of the person buying the policy.
  • Photographs of the individual.
  • Specific documents related to the asset to be insured. For instance, vehicle insurance would require you to submit vehicle registration details, PUC (pollution under control certificate), etc.
Many people can find themselves suddenly entangled in a wave of financial uncertainty that emerges from nowhere. However, proper and adequate general insurance coverage can stabilise your finances in trying times so that you can get out of the crisis as soon as possible without straining your savings.

Thus, choose the policies that are best for your needs and stay protected while enjoying a peaceful and carefree life.

How to submit a claim for general insurance?

It is crucial to study and comprehend your insurance policy before filing a claim because different policies may have different requirements and exclusions. The steps that are usually taken when submitting a claim for general insurance are as follows:

  • The initial stage is to get in touch with your insurance provider as soon as you can following the loss or damage-causing incident.Depending on the procedures of the provider, you can either do this over the phone or online.
  • The insurer will need to know the specifics of the incident, such as the date, time, and place, as well as any additional pertinent details like the identities of any witnesses or other parties involved.
  • You might need to offer proof to back up your claim, depending on the kind of claim.This could consist of images, invoices, and medical or law enforcement records This could, among other things, consist of images, invoices, medical or law enforcement records.
  • You will be guided through the claims procedure by your insurer, which may entail filling out claim forms, providing additional information or paperwork, or meeting with an assessor or other insurer representative.
  • After you've filed your claim, the insurer will review it to see if it falls under the terms of the policy. If your claim is approved, the insurance company will let you know how much money you'll get back in damages or reimbursements as well as any other pertinent information.

Key Takeaway

  • General insurance is a non-life insurance product providing coverage for damage or loss to specific assets.
  • It’s different from life insurance which provides insurance cover against the possibility of a loss of life of the insured person.
  • Health insurance and vehicle insurance are the most popular forms of general insurance.
  • General insurance can provide a financial safety net in times of crisis.
  • You can buy various general insurance products online from the insurer’s official website.

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FAQ

  • What is covered under general insurance

    General insurance protects non-living assets like your house, car, travel, and health from theft, fire, floods, mishaps, and disasters caused by humans. Automobile insurance, health insurance, travel insurance, and home insurance are a few examples of general insurance.A general insurance policy covers the insured's damages throughout the duration of the policy.

  • Who offers the best possible insurance ?

    Before choosing the insurance company that best satisfies your needs and preferences, it is advised to perform an in-depth study and compare several insurance companies.The claim settlement percentage is a crucial factor to consider when choosing an insurance company. A better insurance company has a higher claim settlement ratio. Individuals could also ask financial advisers or insurance agents for guidance, who can make tailored recommendations based on their particular situation.

  • What is the main difference between Life insurance and general insurance ?

    The types of risks that each type of insurance covers is where the primary distinction between life insurance and general insurance lies. Life insurance covers the risk of death whereas general insurance provides coverage for other risks such as damage or loss to property, health, liability, and others.

  • What is the role of general insurance ?

    General insurance serves as a form of financial protection for people and companies against losses or damages brought on by unanticipated hazards or events, including mishaps, natural disasters, theft, fire, and other perils. A variety of hazards are covered by general insurance, such as those related to liability, property, and health.

  • Which insurance policies are tax free ?

    Purchasing and maintaining health insurance coverage has financial benefits. Tax deductions are available for health insurance monthly payments.Section 80D of Income Tax allows for Tax deductions for premiums paid towards a family’s health insurance policy however there is a max limit to it.

    Health Insurance:

    Under Section 80D of the Income Tax Act, the premium for a health insurance policy for the taxpayer, their spouse, and any dependent children is qualified for a tax deduction of up to Rs. 25,000 per year. Health insurance policies bought for parents are eligible for an extra tax deduction of up to Rs. 25,000. (Rs. 50,000 if parents are senior citizens).

    Motor Insurance:

    Under Section 80C or Section 10(10D) of the Income Tax Act, premiums paid for auto insurance are not tax deductible. However, if the policy contains personal accident coverage, the premium paid for that coverage is deductible from income under Section 80C of the Income Tax Act.

    It's essential to remember that the tax advantages could change based on the particular insurance policy and the person's tax situation. For specific guidance, it's always best to speak with a tax advisor.

  • Is Rider the same as Endorsement ?

    Yes, a rider and an endorsement are usually used interchangeably in the insurance industry. Both words refer to the addition, modification, or removal of coverage or terms in an insurance policy through an amendment or attachment. The objective of a rider or endorsement is the same regardless of the terms used.

  • Can a Rider be Added to a current insurance policy ?

    According to the particular terms and conditions of the policy, adding a rider is usually possible to an existing insurance policy. A rider is a supplemental clause or amendment to an insurance policy that adds new coverage or changes the terms of the current coverage. You must get in touch with your insurance provider and ask for the particular rider you want in order to add one to your insurance coverage. The insurance provider will assess your request and decide whether the rider can be added to your existing policy and whether there will be any extra fees involved.

 

DISCLAIMER

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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This Website is provided to you on an "as is" and "where-is" basis, without any warranty. ABCL, for itself and any ABC Companies and third party providing information, Materials (defined later), facilities, or content to this Website, makes no representations or warranties, either express, implied, statutory or otherwise of merchantability, fitness for a particular purpose, or non-infringement of third party rights, with respect to the website, the information or any products or facilities to which the information refers. ABCL will not be liable to you or any third party for any damages of any kind, including but not limited to, direct, indirect, incidental, consequential or punitive damages, arising from or connected with the site, including but not limited to, your use of this site or your inability to use the site, even if ABCL has previously been advised of the possibility of such damages. Any access to information hosted on third party websites of billers/banks/merchants/ABC Companies etc. is not intended and shall not be treated as an offer to sell or the solicitation of an offer to buy any product/offering of these ABC Companies or third parties.

The Facilities Provider or ABCL or ABC Companies shall have absolutely no liability in connection with the information and Material posted on this Website including any liability for damage to your computer hardware, data, information, materials, or business resulting from the information and/or Material or the lack of information and/or Material available on the Website. In no event shall ABCL or ABC Companies shall be liable for any for any special, incidental, consequential, exemplary or punitive damages for any loss, arising out of or in connection with (a) the use, misuse or the inability to use this Website; (b) unauthorized access to or alteration of your transmissions or data; (c) statements or conduct of any third party on the site; or (d) any other matter whatever nature relating to this Website.

Further, the Facilities Provider cannot always foresee or anticipate technical or other difficulties. The facilities may contain errors, bugs, or other problems. These difficulties may result in loss of data, personalization settings or other facilities interruptions. The Website does not assume responsibility for the timeliness, deletion, mis-delivery, or failure to store any user data, communications, or personalization settings.

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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