Lifeway Insurance Brokers Ltd is registered as Direct (Life and General) Broker having (Registration No. 388 and IRDAI Direct Insurance Broker Code – IRDA/DB 314/05 valid till 26/11/2023) is duly registered with the Insurance Regulatory and Development Authority of India, having its registered and corporate office at Lifeway House, Sun Infotech Park, Road No 16V, Plot B -23, MIDC, Wagle Industrial Area, Wagle Estate, Thane -400604 Maharashtra (hereinafter referred as Lifeway).
Purchase of any insurance product by Lifeway customer(s) is purely voluntary and is not linked to availing of any other facility/services/products from Lifeway Group.
The insurance products available at www.lifeway-insurance.com or on the mobile application (“Lifeway Platform”) are offered and underwritten by the respective insurers. Lifeway as a direct insurance broker acts as a representative of the customer. Lifeway is not an agent, corporate agent or other intermediary representing the insurers, whose products are dealt with in the Lifeway Platform.
Lifeway is only assisting in collecting the premium on behalf of the insurer chosen by you to avail the insurance product. The acceptance of the deposit as premium and final issuance of the insurance policy is subject to the underwriting norms and discretion of the insurer on which Lifeway has no control. Further, any product information displayed on the Lifeway Platform is solely based on the information received from the concerned insurer.
The insurer underwriting the particular insurance product purchased/ serviced through the Lifeway Platform is solely responsible for settling any claim thereunder or taking any decisions on claim settlements. By its operation of the Lifeway Platform or otherwise, Lifeway is only acting in the capacity of an insurance broker and does not, in any circumstances, underwrite any insurance business or partake in the conduct of insurance business.
For more details on risk factors, terms and conditions, please read the sales brochure/customer information sheet/ policy wordings of a particular plan carefully before concluding a sale.
Insurance is a subject matter of solicitation and the Policy is issued, based on a contract between the insured and insurer.
Before you enter into a contract of general insurance, you have a duty under the law to disclose every matter that you know or could reasonably be expected to know, that is relevant to the insurer’s decision whether to accept the risk of insurance and if so, on what terms. You have the same duty to disclose those matters before you renew, extend, vary or reinstate a contract of insurance.
If you fail to comply with your duty of disclosure, the insurer may be entitled to repudiate or reduce its liability under the contract in respect of a claim or may cancel the contract. If your non-disclosure was fraudulent, the insurer may also have the option of voiding the contract from the beginning (i.e. treating it as if it never existed).
Information regarding the full extent of your duty of disclosure is contained in your policy wording and should be read carefully at any point in your insurance transaction including when your policy is renewed, extended, varied or reinstated.
Lifeway makes no representation/s or warranty/ies, express or implied, as to the accuracy, completeness or reliability of any information compiled herein, and hereby disclaims any liability with regard to the same, including, without limitation, any direct, indirect, incidental or consequential loss. You shall verify the veracity of the information on your own before using the information provided in the document. Investors are requested to review the benefit illustration and policy documents carefully and obtain expert professional advice.
Lifeway does not make any representations that coverage does or does not exist for any particular claim or loss, or type of claim or loss, under any policy. Whether coverage exists or does not exist for any particular claim or loss under any policy depends on the facts and circumstances involved in the claim or loss and all applicable policy wording. For more details on risk factors, terms and conditions, please read sales brochure carefully before concluding a sale”.