Life Insurance Company - Best Plans & Policies

DISCLAIMER: Payment of premium beyond 89 days of the Due Date shall not be made online and should be made at the branch of PLIL. PLIL shall not be responsible for not processing any online payments made beyond this period through the internet by the user. Any dispute arising in respect of payments directly or indirectly connected with lapsation due to payment beyond this period shall not be entertained and PLIL shall not accept any liability for the lapsation of the policy or any other loss of any nature whatsoever on payments made beyond this period. [The payment of renewal premium is permitted only by a policyholder for a policy purchased by him. No third party payment of renewal premium is permitted.] 1. Definitions : In this document the following words and phrases shall have the meanings as set below unless the context indicates otherwise: "PLIL" refers to Pramerica Life Insurance Ltd., a company incorporated under the Companies Act, 1956 and licensed as a Life Insurance Company under the laws of India and having its Corporate office at 4th Floor, Building No. 9B,Cyber City, DLF Phase-3, Gurgaon-122002 "PAYMENT GATEWAY" refers to the facility offered by PLIL at its website www.pramericalife.in which provides user the facility to pay through users own credit card life insurance premium for the insurance policy purchased from PLIL and such other services as PLIL may decide to provide from time to time. The availability/non-availability of a particular service of the payment gateway shall be advised through email, web page of PLIL or written communication. For the purpose of availing payment gateway, the User would need to be a current Internet user or have legal access to the internet. PLIL will advise from time to time the Internet software such as browsers which are required for using payment Gateway. There will be no obligation on PLIL to support all the versions of these Internet software "PERSONAL INFORMATION" refers to the information provided by the User to PLIL. "TERMS" refer to terms and conditions herein for use of Payment Gateway. "USER" refers to an existing policyholder of PLIL who has purchased a PLIL life insurance policy. In this document all references to the User being referred in masculine gender shall be deemed to include the feminine gender. "POLICY" shall mean the life insurance policy purchased by the User from PLIL and which has not lapsed.

1. Applicability of Terms : These Terms form the contract between the User and PLIL for Internet payment gateway. By using the payment gateway for the first time, the User acknowledges and accepts these Terms. Notwithstanding anything contained herein, all terms and conditions stipulated in the Policy shall continue to apply.

2. Unauthorised Access : The User shall take all necessary precautions to prevent unauthorized and illegal use of Payment Gateway and therefore shall not disclose details of users credit card to any other person.

3. Maintenance Of Sufficient Balance : The User shall ensure that there are sufficient funds (or prearranged credit facilities) in users credit card for payment of premium through the payment gateway and PLIL shall not be liable for any consequences arising out of its failure to carry out the instructions due to inadequacy of funds and/or credit facilities.

4. Accuracy of Information and Instructions : The User is responsible for the correctness of information supplied to PLIL for use of the Payment Gateway. PLIL accepts no liability for the consequences arising out of erroneous information supplied by the User. If the User notices an error in the information supplied to PLIL either in the website or any other communication, user shall immediately advise PLIL which will endeavour to correct the error wherever possible on a "reasonable efforts" basis. The User is also responsible for the accuracy and authenticity of the instructions provided to PLIL and/or service provider and the same shall be considered to be sufficient to operate the payment gateway.

1) PLIL shall have no liability or obligation to independently verify the instructions or the authenticity of any transaction from the User:

2) To keep a record of the instructions to provide information to the User or for verifying User's instructions. PLIL may refuse to comply with the instructions without assigning any reason and shall not be under any duty to assess the prudence or otherwise of any instruction PLIL shall have the right to suspend the operations through the Payment Gateway if it has reason to believe that the User's instructions will lead or expose it to direct or indirect loss or may require an indemnity from the User before continuing to operate the payment gateway.

5. Liability of the User and PLIL : Neither PLIL nor the service providers shall be liable for any unauthorised transactions occurring through the payment gateway and the User hereby fully indemnifies and holds PLIL and the service providers harmless against any action, suit, proceeding initiated against it or any loss, cost or damage incurred by it as a result thereof. PLIL shall under no circumstance be held liable to the User if the payment gateway is not available in the desired manner of at any time for reasons including but not limited to natural calamities, legal restraints, faults in the telecommunication network or network failure, or any other reason beyond the control of PLIL. Under no circumstances shall PLIL be liable for any damages whatsoever whether such damages are direct, indirect, incidental consequential and irrespective of whether any claim is based on loss of revenue, interruption of business or any loss of any character or nature whatsoever and whether sustained by the User or by any other person. Illegal or improper use of the Internet Banking shall render the User liable for payment of financial charges as decided by PLIL or will result in suspension of the operations through the payment gateway.

6. Indemnity : In consideration of PLIL providing the User the payment gateway, the User shall indemnify and hold PLIL and/or the Affiliates, as the case may be, including both their officers, employees and agents, indemnified against all losses and expenses on full indemnity basis which PLIL may incur, sustain, suffer or is likely to suffer in connection with PLIL or Affiliates' execution of the User's instructions and against all actions, claims, demands, proceedings, losses, damages, costs, charges and expenses as a consequence or by reason of providing a service through payment gateway for any action taken or omitted to be taken by PLIL and /or the Affiliates, its officers, employees or agents, on the instructions of the User. The User will pay PLIL and /or the Affiliates such amount as may be determined to be sufficient to indemnify it against any such, loss or expenses even though they may not have arisen or are contingent in nature.

7. Disclosure of Information : The User agrees that PLIL and/or Affiliates or their contractors may hold and process his Personal Information and all other information concerning his Account(s) on computer or otherwise in connection with the payment gateway as well as for analysis, credit scoring and marketing. The User also agrees that PLIL may disclose, in strict confidence, to other institutions, such Personal Information as may be reasonably necessary for reasons inclusive of but not limited to participation in any telecommunication or electronic clearing network, in compliance with a legal directive, for credit rating by recognised credit scoring agencies, for fraud prevention purposes.

8. Change of Terms : PLIL shall have the absolute discretion to amend or supplement any of the Terms at any time. By using the services, the User shall be deemed to have accepted the changed Terms.

9. Non-Transferability : The grant of Payment Gateway to a User is not transferable under any circumstance and shall be used only by the User.

10. Termination of Payment Gateway facility: PLIL may at its sole discretion suspend or terminate the Payment Gateway facility at any time for any reason. The User will remain responsible for any transactions made through the Payment Gateway until the time of such termination.

11. Notices : Notices under these Terms may be given by PLIL and the User in writing by delivering them by hand or by sending them by post to the last address given by the User and in the case of PLIL to its corporate office address as set out hereinabove. In addition, PLIL may also publish notices of general nature, which are applicable to all Users in a newspaper or on its web site located at www.pramericalife.in Such notices will have the same effect as a notice served individually to each User. Notice and instructions will be deemed served 7 days after posting or upon receipt in the case of hand delivery, cable, telex or facsimile.

12. Governing Law : These Terms and/or the operations in the Accounts of the User shall be governed by the laws of India. The Parties hereby agree that any legal action or proceedings arising out of the Terms for Internet Banking shall be brought in the courts or tribunals at New Delhi in India and irrevocably submit themselves to the jurisdiction of such courts and tribunals. Any provision of the Terms for payment gateway which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of prohibition or unenforceability but shall not invalidate the remaining provisions of the Terms or affect such provision in any other jurisdiction. 19. General : The clause headings herein are for only for convenience and do not affect the meaning of the relative clause. PLIL may sub-contract and employ agents to carry out any of its obligations under this contract. All costs incurred by the User including telecommunication costs to use the payment gateway would be borne by the User.

13. Assignment : PLIL shall be entitled to sell, assign, or transfer PLIL’s right and obligations under the Terms. Any such sale, assignment, or transfer shall conclusively bind the User and all other persons. The User, his heirs, legal representatives, executors, administrators and successors are bound by the Terms. However, the User shall not be entitled to transfer or assign any of his rights and obligations hereunder.

14. Proprietary Rights : The User acknowledges that the software underlying the payment gateway as well as other Internet related software which are required for accessing payment gateway are the legal property of the respective vendors. The permission given by PLIL to access payment gateway will not convey any proprietary or ownership rights in such software. The User shall not attempt to modify, translate, disassemble, decompile or reverse engineer the software underlying payment gateway or create any derivative product based on the software

15. As per Regulation 3(d), IRDA (Manner of Receipt of Premium) Regulations, 2002, in case, the proposer/policy holder opts for premium payment through credit/debit card, the payment must be made only through credit/debit card issued on the name of such proposer/policyholder.

16. In case the transaction is being declined, the policy holder is liable to pay the outstanding premium by any other premium payment option as per the terms and conditions of the policy issued, failing which the policy will become lapsed due to non-payment of premium in accordance to the policy terms and conditions. However, in case of new application / proposal form, the policy shall not be issued in case the transaction is being declined.

17. Authorization will remain in effect till intimated otherwise by the policy-holder or revocation or termination of the Standing Instructions.

18. If there is some change or renewal of the Credit/Debit Card or any details relating to the Credit/Debit Card, it should be intimated within one month before the due date to Pramerica Life Insurance Company Ltd.

19. If payment date falls on Sunday or Public holiday the same will be effected next working day.

20. For termination of Standing Instructions, the policy-holder can contact any of the touch points of Pramerica Life Insurance Company Ltd.