Terms & Conditions

1. Definitions

In these Terms and Conditions:

• "We," "Us," "Our," "Consultant" refers to Motilal Sharma Insurance Consultant
• "You," "Your," "Client" refers to the individual or entity using our services
• "Services" refers to insurance consulting, advisory, policy placement, and related services
• "Insurance Company" refers to LIC or any other insurance provider we work with
• "Policy" refers to any insurance policy purchased through our services
• "Website" refers to motilalinsurance.in and associated web pages

2. Services Provided

We provide the following services as an insurance consultant and advisor:

2.1 Insurance Advisory Services

• Assessment of insurance needs and risk profiling
• Recommendation of suitable insurance products
• Comparison of different insurance policies
• Explanation of policy terms, conditions, and exclusions

2.2 Policy Placement Services

• Assistance with insurance application completion
• Submission of applications to insurance companies
• Follow-up on policy issuance
• Policy delivery and explanation

2.3 Policy Servicing

• Assistance with policy changes and endorsements
• Premium payment reminders and assistance
• Policy renewal assistance
• Claims assistance and guidance

2.4 Financial Advisory

• Retirement and pension planning
• Investment planning through insurance products
• Tax planning through eligible insurance products

3. Our Role as Insurance Consultant

3.1 Nature of Relationship

We act as an intermediary between you and insurance companies. Our role is to:

• Provide professional advice based on your needs and circumstances
• Present suitable insurance options from various providers
• Assist with the application and policy issuance process
• Help you understand policy features, benefits, and limitations

3.2 Limitations of Our Role

You acknowledge and agree that:

• We do not underwrite insurance policies or assume insurance risk
• We cannot guarantee policy issuance or specific terms
• All decisions regarding policy issuance, pricing, and claims are made by insurance companies
• We are not responsible for the financial condition or claims-paying ability of insurance companies

3.3 Duty of Disclosure

You have a duty to disclose all material facts relevant to the insurance. Failure to provide complete and accurate information may result in:

• Policy cancellation or voidance
• Claim denial
• Premium adjustments

We rely on the information you provide and are not responsible for verifying its accuracy.

4. Client Responsibilities

As a client, you agree to:

• Provide accurate, complete, and truthful information
• Read and understand all policy documents before signing
• Make timely premium payments to insurance companies
• Notify us promptly of any changes in circumstances that may affect your insurance
• Notify us immediately of any incidents that may lead to a claim
• Cooperate with insurance companies during the claims process
• Keep policy documents safe and accessible

5. Compensation and Fees

5.1 Commission Structure

We are compensated primarily through commissions paid by insurance companies for policies placed with them. Commission rates vary by:

• Type of insurance product
• Insurance company
• Policy premium amount
• Policy duration

5.2 Disclosure of Compensation

We will disclose our compensation structure upon request. Commission details may be included in your policy documents as per IRDAI regulations.

5.3 Additional Fees

In some cases, we may charge additional fees for:

• Complex financial planning services
• Specialized risk assessments
• Ongoing portfolio management
• Services outside standard insurance consulting

Any additional fees will be disclosed and agreed upon in writing before services are rendered.

6. Privacy and Confidentiality

We are committed to protecting your privacy and confidential information. Our Privacy Policy governs how we collect, use, and protect your personal information. By using our services, you consent to our collection and use of your information as described in the Privacy Policy.

We maintain appropriate safeguards to protect your information but cannot guarantee absolute security of electronic transmissions.

7. Intellectual Property

All content on our website, including text, graphics, logos, images, and software, is our property or the property of our licensors and is protected by copyright and other intellectual property laws. You may not reproduce, distribute, modify, or create derivative works without our prior written consent.

8. Limitation of Liability

8.1 General Limitation

We provide advice and recommendations in good faith based on the information available to us. We are not liable for:

• Decisions made by insurance companies regarding policy issuance, pricing, or claims
• Changes in insurance company policies, products, or financial condition
• Market conditions affecting investment-linked insurance products
• Regulatory changes affecting insurance products
• Acts or omissions of third parties, including insurance companies

8.2 Maximum Liability

Our maximum liability to you for any claim arising from our services shall not exceed the total commissions received by us on the specific policy in question during the 12 months preceding the claim.

8.3 Exclusions

We are not liable for:

• Indirect, incidental, consequential, or punitive damages
• Loss of profits, revenue, or data
• Damages resulting from events beyond our reasonable control
• Your failure to follow our advice or recommendations
• Your failure to maintain insurance coverage

9. Indemnification

You agree to indemnify and hold us harmless from any claims, damages, losses, or expenses (including reasonable attorney fees) arising from:

• Your breach of these Terms and Conditions
• Your provision of inaccurate or incomplete information
• Your violation of any laws or regulations
• Your misuse of our services or website

10. Termination

These Terms and Conditions remain in effect until terminated by either party. We may terminate our services if:

• You breach any provision of these terms
• We are unable to verify your information
• You engage in fraudulent or illegal activities
• Continuing the relationship becomes impractical or unfeasible

Termination does not affect:

• Your existing insurance policies with insurance companies
• Any rights or obligations that accrued before termination
• Sections that by their nature should survive termination (e.g., Limitation of Liability, Indemnification)

11. Dispute Resolution

11.1 Negotiation

In case of any dispute, the parties agree to first attempt to resolve it through good faith negotiation.

11.2 Arbitration

If negotiation fails, disputes shall be resolved through arbitration in Noida, India, in accordance with the Arbitration and Conciliation Act, 1996. The arbitration award shall be final and binding on both parties.

11.3 Governing Law

These Terms and Conditions are governed by and construed in accordance with the laws of India, without regard to conflict of law principles.

11.4 Jurisdiction

The courts in Noida, Uttar Pradesh shall have exclusive jurisdiction over any disputes arising from these terms.

12. Regulatory Compliance

We operate in compliance with the Insurance Regulatory and Development Authority of India (IRDAI) regulations. Our IRDAI registration number is [To be filled by actual registration number].

You have the right to verify our registration status with IRDAI and to file grievances with IRDAI if you are not satisfied with our grievance redressal.

13. Modifications to Terms

We reserve the right to modify these Terms and Conditions at any time. The updated version will be posted on our website with an updated "Last Updated" date. Continued use of our services after changes constitutes acceptance of the modified terms.

14. Contact Information

For questions about these Terms and Conditions or our services, please contact:

Grievance Officer: Motilal Sharma

Email: motilalinsurance4@gmail.com | Phone: +91 88267 25972

We will acknowledge your grievance within 3 working days and attempt to resolve it within 30 days.

15. Miscellaneous

15.1 Entire Agreement

These Terms and Conditions, together with our Privacy Policy, constitute the entire agreement between you and us regarding our services.

15.2 Severability

If any provision of these terms is found to be invalid or unenforceable, the remaining provisions will continue in full force and effect.

15.3 No Waiver

Our failure to enforce any right or provision of these terms will not be considered a waiver of those rights.

15.4 Assignment

You may not assign or transfer your rights under these terms without our prior written consent. We may assign our rights without restriction.