Terms & Conditions

Clause 01

1. Acceptance of Terms & User Eligibility

By browsing, accessing, or utilizing any portion of the NidhiSetu Pranali website, requesting consultation or proposal quotes, or engaging our advisors for insurance and mutual fund facilitation, you agree to be bound by these Terms & Conditions.

You represent and warrant that you are at least 18 years of age, mentally competent, and eligible to enter into legally enforceable contracts under the Indian Contract Act, 1872. If you are representing a business entity (e.g. for commercial fire, marine, or group health insurance), you warrant that you hold legitimate corporate authority to bind said entity.

Clause 02

2. Nature of Services (Intermediary & Distribution Facilitator)

NidhiSetu Pranali operates as an independent insurance advisory facilitator and mutual fund distributor. We assist clients in:

• Analyzing personal, family, and commercial protection gaps.
• Comparing policy benefits, waiting periods, room-rent limits, and co-pay structures across leading IRDAI-registered insurance companies.
• Submitting insurance proposals and documentation to insurers on your behalf.
• Providing dedicated assistance, coordination, and claims guardianship during hospitalization and claim settlement.
• Facilitating goal-based mutual fund investments (SIPs and lumpsum) through registered platforms under AMFI guidelines.

Intermediary Clarification: NidhiSetu Pranali is NOT an insurance underwriter or an Asset Management Company (AMC). The insurance policy contract is executed solely between you (the Policyholder) and the respective Insurance Company.

Clause 03

3. Client Obligations & The Doctrine of Utmost Good Faith

All contracts of insurance in India are founded on the fundamental legal doctrine of Utmost Good Faith (Uberrimae Fidei).

Crucial Warning on Health & Fact Disclosure:

You are under an absolute legal obligation to disclose all material facts accurately on the proposal form, including:

• Any pre-existing medical conditions (hypertension, diabetes, thyroid, cardiac history, asthma, etc.).
• Previous hospitalizations, surgeries, or ongoing prescription medication.
• Accurate smoking, tobacco, and alcohol consumption habits.
• True vehicle condition, claims history, and CNG/LPG kit endorsements.

Failure to disclose, suppression of material facts, or deliberate misrepresentation gives the insurer the statutory right under Section 45 of the Insurance Act, 1938 to repudiate (reject) claims and forfeit paid premiums.

Clause 04

4. Direct Premium Payment Safeguard

To ensure client financial safety and combat fraudulent practices:

Zero Cash / Zero Personal Transfer Policy: NidhiSetu Pranali and its advisors NEVER accept cash or deposits into personal bank accounts for insurance premiums or mutual fund units.
Official Payment Gateways Only: All premium payments must be remitted directly through the official digital payment links, net banking, or UPI gateways generated by the respective Insurance Company (e.g. Care Health, Star Health, HDFC ERGO) or recognized clearing corporations (ICCL / BSE StAR MF / NSE NMF II).
Cheque Remittance: When paying by cheque, it must strictly be drawn in the registered corporate name of the insurance company (e.g., “HDFC ERGO General Insurance Co. Ltd.”) and crossed “Account Payee Only”.

Clause 05

5. Underwriting Authority & Claims Settlement Discretion

While NidhiSetu provides advisory guidance and claims coordination:

• Underwriting Decisions: The authority to accept, decline, postpone a policy, or apply medical loading rests exclusively with the insurer's medical underwriting team.
• Claim Settlement Prerogative: Cashless hospital pre-authorization approval or reimbursement claim settlement is governed strictly by the terms, exclusions, and waiting periods of the policy issued by the insurer.
• No Binding Warranty: NidhiSetu cannot alter, waive, or create any insurance policy terms, nor can any advisor guarantee claim approval where terms have been breached.

Clause 06

6. Free-Look Period, Cancellation & Refunds

As per IRDAI consumer protection regulations, individual life and health insurance policies feature a statutory Free-Look Period:

15-Day Physical / 30-Day Electronic Free-Look: You have 15 days (or 30 days for policies acquired through distance marketing / electronic issuance) from the date of policy document receipt to review terms.

Right to Cancel: If you disagree with any policy condition or exclusion, you can request policy cancellation during this window.

Refund Calculation: The insurer shall refund the premium paid, deducting only proportionate risk premium for the period covered, pre-policy medical checkup expenses incurred, and applicable government stamp duty.

Our team provides complete handholding should you ever wish to invoke your Free-Look rights.

Clause 07

7. Mutual Fund Distribution Terms & Execution

For mutual fund services, NidhiSetu acts as an AMFI-registered Mutual Fund Distributor (MFD).

• Mutual fund investments are routed through registered execution platforms (BSE StAR MF, NSE NMF II, or respective AMC web portals).
• NAV allotment timing is strictly subject to SEBI cut-off timings and funds realization in AMC bank accounts.
• No Guaranteed Returns: NidhiSetu does NOT guarantee any fixed or minimum investment returns. All projections and historical CAGR calculations are purely for analytical reference.

Clause 08

8. Intellectual Property & Permitted Use

The design, text, financial calculation algorithms, infographics, logos, and layout on this website are the proprietary intellectual property of NidhiSetu Pranali or used under lawful authorization.

You may view and print materials for personal, non-commercial use only. You shall not scrape, copy, reverse engineer, or exploit website materials for commercial aggregation without prior written consent.

Clause 09

9. Limitation of Liability

To the maximum extent permitted by applicable law, NidhiSetu Pranali, its partners, and advisors shall not be liable for:

• Claim repudiation or deduction arising out of client non-disclosure or concealment of facts.
• Market volatility, capital erosion, or NAV fluctuations in mutual fund schemes.
• Delays or failures in banking payment gateways, UPI networks, or third-party TPA systems beyond our reasonable control.

Clause 10

10. Governing Law & Jurisdiction

These Terms & Conditions shall be governed by, construed, and enforced in accordance with the laws of the Republic of India. Any legal dispute or controversy arising out of or relating to these terms shall be subject to the exclusive jurisdiction of the competent courts in Nashik, Maharashtra, India.

Clause 11

11. Regulatory Grievance Escalation Channels

If an insurance or investment grievance remains unresolved after escalation to our compliance desk, you have the statutory right to escalate to regulatory ombudsman mechanisms:

Insurance Regulatory Portal (IRDAI)

Bima Bharosa (Consumer Affairs Portal):

bimabharosa.irdai.gov.in

Toll Free: 155255 / 1800 4254 732

Mutual Fund Grievances (SEBI)

SEBI Complaints Redress System (SCORES):

scores.sebi.gov.in

Toll Free: 1800 22 7575 / 1800 266 7575

Utmost Good Faith (Uberrimae Fidei)

100% Direct Premium Payments

Statutory Free-Look Period