Cancellation & Refund/Chargeback Terms and Conditions

1(a) Free look period Cancellation and Refund

As per the IRDAI rules and regulations, you have the right to cancel your insurance policy within 30(thirty) days from the date of (online) receipt of insurance policy (referred to as “Free look period”) and refund of your premium amount shall be processed as per the applicable process and procedures followed by the insurer. This Free look facility can be availed only for Life and Health insurance policies, subject to certain other terms and conditions specified by IRDAI. We encourage all our customers to read the insurance policy document carefully and avail the free look facility in case the terms and conditions of the insurance policy document don’t match your insurance requirements. Further, you understand that once you place a cancellation request within the Free look period, the policy gets cancelled and entire premium is refunded to you subject to deduction of (i) charges pertaining to medical tests conducted (ii) administrative and service cost like stamp duty etc. and; (iii )Charges for mortality for the period the policy was in force. Please note such deduction is at the sole discretion of the insurer.

All payments with respect to refunds as stated under this paragraph 1 shall be the sole responsibility of the insurer per the rules and regulations laid down by the IRDAI. You understand that Wealthsoft(ONE TOUCH SOLUTION) has tied up with RBI authorized payment gateways to allow you to make online payments towards your insurance premium amount and is only acting as a mere facilitator and providing its assistance to its customers for speedy refunds.

(b) Chargebacks

You (cardholder) may dispute a transaction carried out through our Website and file a Charegback with your issuing bank for the reversal of that transaction. Chargeback allows transactions to be reversed by you under specified circumstances such as, on account of (i) alleged forgery of the card number / bank account or other details (ii) any charge/debit made on a card that has been listed as a hot listed card or otherwise listed on the card association (Visa, MasterCard, etc.) warning bulletins (iii) duplicate processing of the transaction; or (iv) for other reasons as per applicable rules and guidelines issued by RBI, card Associations, your card/payment instrument issuing bank etc. However, we reserve the right to reject a Chargeback, including but not limited to, under the following circumstances:

1. In the event your medical tests or underwriting is in process with your chosen insurer, not exceeding a period of 3 months from the date of your insurance policy application

2. In the event there is any delay caused on the part of the insurer in conducting medical tests or during the process of medical underwriting or issuance of insurance policy or any service provided by the insurer in connection with the insurance policy issuance, not exceeding a period of 3 months from the date of your insurance policy application

3. In case your insurance policy application is rejected by the insurer, post your medical test

Our Company shall not be liable to you, in any form or manner whatsoever, for any claims, disputes, proceedings which may arise in connection with Chargebacks initiated by you in the circumstances as specified under (a), (b) and (c) herein above.

4.Any customer pay for Our Package (Wealth Management Program)  Fee/Expert Suggestion Fee If pay Any other Blood Relative Account KYC Send cumplsory to Our Company Email Customercare@wealthsoft.co.in.if pay other person payment not accept company Refund Auto Processed within 30 Days.
 

2. You understand agree that (section 41 of Insurance Act)

a) No person shall allow or offer to allow, either directly or indirectly, as an inducement to any person to take out or renew or continue an insurance in respect of any kind of risk relating to lives or property in India, any rebate of the whole or part of the commission payable or any rebate of the premium shown on the policy, nor shall any person taking out or renewing or continuing a Policy accept any rebate, except such rebate as may be allowed in accordance with the published prospectuses or tables of the insurers.
b) Any person making default in complying with the provision of this section shall be liable for a penalty which may extend to ten lakh rupees.

3. Customer Due Diligence requirements (CDD)

You agree and acknowledge that for undertaking any financial transaction through the website, Our Company may undertake client/customer due diligence measuresers and seek mandatory information required for KYC purpose which as a customer you are obliged to give, while facilitating your request of insurance requirements with the insurance company(ies), in accordance with applicable laws and rules. Where required, you hereby consent to and authorize Our Company to obtain your credit information through authorized entities. Our Company may obtain sufficient information to establish, to its satisfaction or the insurance company, the identity of each new customer, and the purpose of the intended nature of insurance relationship between you and the insurance company(ies). You agree and understand that you shall ensure that any payment towards insurance premium is remitted only through your bank account or from a joint bank account in which you are a joint holder. In the event, payment towards insurance premium is remitted through a bank account opened in the name of a third party(i.e. not being in your name), you agree and acknowledge that Our Company can undertake enhanced due diligence measures(including any documentation), to satisfy itself relating to customer due diligence requirements. You further agree and acknowledge that, in line with the requirements and obligations under the PMLA Act and rules, all refunds shall be processed by the insurance company(ies) through us to the bank account which was used to remit payment of insurance premium.

4. License Disclaimer

Nothing on any Wealthsoft(ONE TOUCH SOLUTION) website shall be construed as conferring any license under any of Wealthsoft(ONE TOUCH SOLUTION) or any third party's intellectual property rights, whether by estoppel, implication, or otherwise.

5. Local Laws

Wealthsoft(ONE TOUCH SOLUTION) is compliant as per the local, state and central laws. We endeavour to provide information under its control or possession, or assistance to any Government agency which is lawfully authorised to investigate or protect cybersecurity activities, for the purposes of verification of identity, or for the prevention, detection, investigation, or prosecution, of offences under any law for the time being in force, or for cyber security incidents as soon as possible, but not later than seventy two hours of the receipt of an order or as per the timelines specified in any government or regulatory order. Accordingly, our Grievance officer and our legal team is authorized to receive and acknowledge any order, notice or direction issued by the Appropriate Government, any competent authority, or a court of competent jurisdiction. Wealthsoft(ONE TOUCH SOLUTION) controls and operates this Website from its headquarters in Ahmedabad, India and makes no representation that the materials on the website are appropriate or available for use in other locations. If you use this Website from other locations, you are responsible for compliance with applicable local laws including but not limited to the export and import regulations of other countries. Unless otherwise explicitly stated, all marketing or promotional materials found on this Website are solely directed to individuals, companies or other entities located in India and comply with the laws prevailing for the time being in force in India. Disputes if any shall be subject to the exclusive jurisdiction of Courts at Ahmedabad.