Terms & Conditions of Advisory Service

1. Introduction & Advisory Scope

Welcome to BimaSpot (accessible at https://bimaspot.com). BimaSpot operates as an independent insurance comparison, consulting, and advisory portal dedicated to assisting individuals, families, and businesses in comparing and procuring insurance policies across India.

By accessing, browsing, or utilizing our quotation calculators, lead forms, WhatsApp advisory services, or telephone consultations, you acknowledge that you have read, understood, and agreed to be bound by these Terms and Conditions. If you do not agree to these terms, please discontinue the use of our services immediately.

2. Quotations, Premiums & Policy Issuance

All premium estimates, quotes, benefit illustrations, and tax deduction figures (under Section 80D and 80C) displayed on this portal or communicated via our WhatsApp desk (+91 8891 042 052) are calculated based on parameters provided by you and published insurer rate cards.

• Non-Binding Estimates: Premiums are indicative until official proposal acceptance and medical underwriting by the insurer.
• Direct Payments: BimaSpot does not accept premium funds into private personal accounts. All payments are routed directly to authorized insurer payment gateways.
• Policy Delivery: Official digital policy schedules, tax certificates, and cashless health cards are issued directly by the underwriter to your registered email address and WhatsApp.

3. Policyholder Obligations & Utmost Good Faith

Insurance contracts in India are based on the legal doctrine of Uberrima Fides (Utmost Good Faith). When applying for Health, Motor, Life, Travel, or Commercial Insurance, you explicitly agree that:

• You will provide true, complete, and accurate information regarding age, pre-existing medical conditions, smoking/drinking habits, vehicle registration history, and prior claims.
• Any non-disclosure, misrepresentation, or concealment of material facts may result in the repudiation of claims or cancellation of the policy by the insurer without premium refund.

4. Claims Facilitation & Advisory Disclaimer

BimaSpot provides dedicated claims advocacy, hospital cashless desk coordination, and surveyor liaison support to our clients at zero extra charge. However:

• The final decision regarding claim approval, admissibility, deductions, copayment, or repudiation rests solely with the insurance company and its appointed Third Party Administrator (TPA).
• BimaSpot cannot alter, override, or guarantee claim settlement amounts determined under policy terms and exclusions.

5. Cancellation & Refund Policy

Cancellation of insurance policies and refunds of premium are governed strictly by the respective insurance company's guidelines and IRDAI regulations:

• Free-Look Period: For health and life policies, a statutory 15 to 30 day free-look period applies from the date of physical or electronic policy receipt.
• Motor & Transit Insurance: Cancellations require proof of alternate insurance coverage or sale of vehicle/consignment as mandated by Indian motor vehicle laws.

6. Governing Law & Jurisdiction

These Terms and Conditions shall be interpreted, construed, and enforced in accordance with the substantive laws of the Republic of India. Any legal dispute, controversy, or proceeding arising out of or in connection with BimaSpot advisory services shall be subject to the exclusive jurisdiction of the competent courts in Thrissur, Kerala, India.