Terms of Use

Effective Date: 21 February 2026

PLEASE READ THESE TERMS OF USE CAREFULLY BEFORE ACCESSING OR USING THIS WEBSITE.

By accessing, browsing, or using www.planswellib.com (the “Website”), you agree to be legally bound by these Terms of Use. If you do not agree to these Terms, you must immediately discontinue your use of the Website and any services offered through it.

These Terms of Use (“Terms”) constitute a legally binding agreement between you (“User”, “you”, or “your”) and Planswell Insurance Brokers Pvt. Ltd. (“Planswell”, “we”, “us”, or “our”), governing your access to and use of our Website, digital platforms, and all associated services.

Planswell is a company incorporated under the Companies Act, 2013, and registered as a Direct Broker (General & Life) with the Insurance Regulatory and Development Authority of India (“IRDAI”) under the IRDAI (Insurance Brokers) Regulations, 2018.

These Terms must be read in conjunction with our Privacy Policy, which is incorporated herein by reference. Additional terms may apply to specific products or services and will be communicated to you at the point of engagement.

1. Definitions

In these Terms, the following expressions shall have the meanings assigned to them below:

“Website” means www.planswellib.com and all sub-pages, portals, and digital tools operated by Planswell under the same domain.
“Services” means all insurance advisory, brokerage, risk audit, policy recommendation, application facilitation, and claims support services offered by Planswell, whether accessed through the Website, phone, email, or in person.
“User” or “you” means any individual or entity accessing the Website or using the Services, including visitors, registered clients, and prospective clients.
“Content” means all text, graphics, logos, icons, images, audio, video, data, software, tools, and other material published on the Website.
“Insurer” means any insurance company, re-insurer, or underwriter with whom Planswell places insurance business on behalf of clients.
“Policy” means any insurance policy, certificate of insurance, or cover note issued by an Insurer.
“Broker” refers to Planswell in its capacity as an IRDAI-registered Direct Broker.
“Sensitive Personal Data” has the meaning assigned under the Information Technology (SPDI) Rules, 2011, and includes health, financial, and biometric information.
“Applicable Law” means all laws, regulations, guidelines, and circulars in force in India, including but not limited to the Insurance Act, 1938, IRDAI Regulations, IT Act, 2000, and the Consumer Protection Act, 2019.

2. Acceptance of Terms

Your access to and use of the Website constitutes your unconditional acceptance of these Terms. Acceptance is deemed to occur when you:

Visit or browse any page of the Website
Submit an inquiry, contact form, or request for quotation
Request a consultation or risk audit
Engage Planswell’s Services in any manner
Click to accept these Terms when prompted during any registration or onboarding process

If you are accessing the Website or using the Services on behalf of a company, partnership, or other legal entity, you represent and warrant that you have the authority to bind that entity to these Terms. In such a case, “you” and “your” shall refer to that entity.

We reserve the right to amend these Terms at any time. Amended Terms will be posted on this page with an updated effective date. Continued use of the Website following any amendment constitutes your acceptance of the revised Terms.

3. Nature of Services and Regulatory Status

3.1 Broker — Not an Insurer

Planswell acts exclusively as an IRDAI-registered Direct Broker. We are an intermediary between you and Insurers. We do not underwrite, issue, or guarantee any insurance policy. All policies are issued solely by the respective licensed Insurer, and Planswell bears no liability for any claim, coverage dispute, or policy term that is the responsibility of the Insurer.

3.2 Advisory, Not Assurance

The recommendations, analysis, risk assessments, and comparisons provided by Planswell are advisory in nature and are based on the information you provide and our professional judgment. They do not constitute a guarantee of coverage, claim settlement, or financial outcome. Insurance coverage is always subject to the terms, conditions, exclusions, and endorsements of the specific policy issued by the Insurer.

3.3 IRDAI Regulatory Framework

As a registered broker, Planswell is subject to ongoing regulation by IRDAI. Our obligations include maintaining professional indemnity insurance, adhering to the Code of Conduct prescribed under the IRDAI (Insurance Brokers) Regulations, 2018, and ensuring that all recommendations are made in the best interest of clients. Our IRDAI registration details are:

Registered Broker Name: Planswell Insurance Brokers Pvt. Ltd.

Broker Category: Direct Broker (Life & General)

IRDAI Registration Number: 832

Registration Valid Until: July 2028

Principal Officer: CA Aishwaria Sahni

3.4 Scope of Services

The Services currently offered through this Website include, but are not limited to:

Personal insurance advisory for individuals and families (health, life, motor, home, travel, and related products)
Business insurance advisory for SMEs, startups, and enterprises (liability, property, engineering, cyber, and related products)
Insurance risk audits and portfolio reviews
Comparative quotations from multiple Insurers
Policy application facilitation and documentation support
Renewal management and mid-term modification assistance
Claims support, including documentation guidance and insurer coordination

Specific services are subject to your eligibility, the availability of suitable products from partner Insurers, and applicable regulatory requirements. Planswell reserves the right to decline to provide Services in any case at its sole discretion.

4. Eligibility

To use the Website and access the Services, you must:

Be at least 18 years of age, or if a minor, be represented by a parent or legal guardian who accepts these Terms on your behalf
Be a citizen or legal resident of India, or a legally incorporated entity under Indian law
Have the legal capacity to enter into binding contracts under the Indian Contract Act, 1872
Not have been previously barred or suspended from using our Services
Provide accurate, complete, and current information when submitting any form, query, or application

We reserve the right to verify your eligibility and to decline or terminate access where eligibility requirements are not met. Providing false information to obtain Services constitutes a material breach of these Terms and may constitute a criminal offence under applicable law.

5. User Obligations

5.1 Accurate Disclosure — Duty of Utmost Good Faith

Insurance contracts in India are governed by the principle of uberrimae fidei — utmost good faith. You are legally obligated to disclose all material facts truthfully and completely when:

Providing information for a risk assessment or quotation
Completing any insurance application or proposal form
Making or supporting a claim
Seeking any endorsement, renewal, or modification to a policy

Failure to disclose material information or providing false information may render any policy voidable by the Insurer, may result in a claim being rejected, and could expose you to legal liability. Planswell relies entirely on the information you provide and bears no responsibility for consequences arising from incomplete or inaccurate disclosure.

5.2 Lawful Use

You agree to use the Website and Services exclusively for lawful purposes and in compliance with all Applicable Laws. You must not:

Use the Website for any fraudulent, misleading, or illegal purpose
Submit false, fabricated, or exaggerated information for the purpose of obtaining insurance or making a claim
Attempt to circumvent any security, authentication, or access control mechanism
Introduce malware, viruses, or any code designed to disrupt, damage, or interfere with the Website or its underlying systems
Use automated bots, scrapers, or crawlers to extract data from the Website without prior written authorisation
Attempt to gain unauthorised access to the accounts, data, or systems of other users or of Planswell
Engage in any conduct that could damage Planswell’s reputation, relationships with Insurers, or standing with IRDAI

5.3 Account and Communication Security

Where you are provided with login credentials or access to a client portal, you are responsible for maintaining the confidentiality of those credentials and for all activity that occurs under your account. You must notify us immediately at info@planswellib.in if you suspect unauthorised access to your account.

5.4 Timely Cooperation

To enable Planswell to provide effective Services, you agree to respond to requests for additional information, documentation, or clarification in a timely manner. Delays caused by you may affect the availability, pricing, or commencement of coverage.

6. Website Content and Information

6.1 General and Educational Content

Much of the content on the Website — including blog articles, guides, comparison tools, and FAQs — is provided for general educational and informational purposes only. It does not constitute personalised financial, legal, medical, or insurance advice. You should not make insurance decisions based solely on general Website content without seeking a tailored consultation from a Planswell advisor.

6.2 Quotations and Indicative Premiums

Any premium figures, coverage amounts, or plan details displayed on the Website are indicative only and are subject to:

Underwriting assessment and approval by the Insurer
The information provided by you in your profile or application
Current insurer pricing, which may vary at the time of binding
Applicable GST and other statutory levies

A quoted premium does not constitute a binding offer of insurance. Insurance cover commences only upon issuance of a policy document by the Insurer and receipt of the requisite premium.

6.3 Third-Party Insurer Content

Product features, terms, and brochures published on the Website in relation to specific insurers reflect our understanding of those products at the time of publication. Insurance products are subject to change by Insurers without notice. You must always refer to the current policy wording issued by the Insurer for definitive terms and conditions.

6.4 No Guarantee of Availability

Not all insurance products displayed on the Website may be available in all states or for all categories of users. Product availability depends on Insurer distribution arrangements, regulatory approvals, and underwriting criteria applicable in your location and circumstances.

7. Application, Policy Issuance, and Premiums

7.1 Application Process

Planswell facilitates your insurance application with the relevant Insurer. We assist with form completion, document collation, and submission. However, the decision to accept, modify, or decline an application rests solely with the Insurer and is subject to their underwriting criteria. Planswell has no authority to bind coverage or guarantee acceptance.

7.2 Premium Payment

All insurance premiums are payable directly to the Insurer or through a payment gateway authorised by the Insurer. Planswell does not collect or hold client premiums in its own accounts. Receipt of premium by Planswell on behalf of an Insurer (if applicable) shall be governed by the agency agreement in place with that Insurer and applicable IRDAI regulations on premium handling.

You are responsible for ensuring timely payment of premiums to maintain continuous coverage. Planswell will send renewal reminders as a courtesy service, but late or missed payments are your responsibility and may result in lapse of coverage.

7.3 Policy Documents

Upon issuance of a policy by the Insurer, you will receive a policy document (the Schedule, Policy Wording, and any endorsements) directly from the Insurer or through us. You are strongly advised to read the policy document carefully immediately upon receipt. If you believe there is any error or discrepancy, you must notify us within 15 days of receipt.

7.4 Free Look Period

For life insurance products, IRDAI regulations provide a Free Look Period of 30 days from the date of receipt of the policy document during which you may return the policy and receive a refund of premium, subject to deductions permitted under IRDAI guidelines. For other insurance products, the cancellation terms are governed by the specific policy and insurer. Planswell will facilitate the free look or cancellation process on your request.

8. Claims

8.1 Claims Support Role

Planswell provides claims support as an ancillary service, assisting clients with documentation, insurer communication, and process guidance. Our role is to advocate for you and facilitate the claims process — we do not adjudicate, approve, or guarantee the outcome of any claim. All claim decisions rest solely with the Insurer.

8.2 Timely Notification

You must notify both the Insurer and Planswell of any loss, damage, or incident that may give rise to a claim as soon as reasonably practicable and within any time limits specified in your policy. Late notification may prejudice your entitlement to make a claim and could result in rejection by the Insurer.

8.3 No Guarantee of Settlement

Planswell makes no warranty or representation that any claim submitted will be accepted, approved, or settled by the Insurer. Claim outcomes depend on the policy terms, the facts and circumstances of the loss, and the Insurer’s assessment. In cases of claim disputes, Planswell will assist you in engaging the Insurer’s internal grievance mechanism and, where appropriate, the IRDAI’s Bima Bharosa portal or the Insurance Ombudsman.

8.4 Fraudulent Claims

You must not submit, or assist any third party in submitting, a false, exaggerated, or fraudulent claim. Fraudulent claims constitute a criminal offence under the Indian Penal Code and may result in prosecution, civil liability, policy cancellation, and permanent exclusion from insurance coverage.

9. Fees and Remuneration

9.1 Broker Commission

As a registered insurance broker, Planswell earns brokerage commission from Insurers on policies placed on your behalf. This commission is embedded in the insurance premium and is regulated by IRDAI. You do not pay any additional brokerage fee to Planswell unless separately agreed in writing.

9.2 Consultancy and Advisory Fees

For specialised services such as risk audits, portfolio reviews, or corporate advisory engagements, a professional fee may be applicable. Any such fees will be disclosed to you in writing prior to commencement of the engagement, and your explicit written acceptance will be obtained before any fee is charged.

9.3 Transparency

In line with our commitment to transparency and IRDAI’s disclosure obligations, we will disclose the basis and quantum of our remuneration to you upon request at any time.

10. Intellectual Property

10.1 Ownership

All Content on the Website — including but not limited to the Planswell name, logo, brand identity, website design, text, images, graphics, illustrations, proprietary tools, blog articles, and risk assessment frameworks — is the intellectual property of Planswell Insurance Brokers Pvt. Ltd. and is protected under the Copyright Act, 1957, the Trade Marks Act, 1999, and applicable intellectual property laws.

10.2 Permitted Use

You may access and view the Content for your personal, non-commercial use only. You are permitted to print or download reasonable extracts for your own reference. You must not:

Copy, reproduce, republish, transmit, or distribute any Content without our prior written consent
Modify, adapt, translate, reverse-engineer, or create derivative works based on any Content
Use any Planswell trademark, logo, or brand element without express written authorisation
Remove or alter any copyright, trademark, or proprietary rights notices on the Website
Use Content for any commercial purpose, resale, or competitive intelligence

10.3 Third-Party Intellectual Property

Logos and branding of Insurers displayed on our Website are used solely for identification and informational purposes. All such trademarks remain the exclusive property of their respective owners. Their display does not imply any endorsement of Planswell by those entities, or of those entities by Planswell, beyond the brokerage relationship.

10.4 User Submissions

By submitting any content to us — including feedback, reviews, testimonials, or data — you grant Planswell a non-exclusive, royalty-free, perpetual licence to use, reproduce, and publish that content for the purposes of service delivery and marketing, subject to applicable data protection obligations. You warrant that such submissions do not infringe the intellectual property rights of any third party.

11. Disclaimers

11.1 No Insurance Guarantee

Planswell makes no representation or warranty that any insurance product recommended or facilitated through the Website will be suitable for your specific needs, provide complete coverage for all losses, or result in any particular claim outcome. Insurance products are complex financial instruments and all coverage is subject to policy terms and conditions.

11.2 Website Availability

While we strive to maintain continuous availability of the Website, we do not warrant that the Website will be available at all times, free from errors, or secure from unauthorised intrusion. The Website is provided on an “as is” and “as available” basis. We may suspend, withdraw, or restrict access to all or part of the Website at any time without notice for operational, technical, or regulatory reasons.

11.3 Accuracy of Information

We take reasonable care to ensure that information on the Website is accurate and up to date. However, insurance regulations, product features, premiums, and insurer policies change frequently. We do not warrant that all Content is current, complete, or error-free at all times. Users should verify critical information directly with the relevant Insurer or regulatory body before making decisions.

11.4 External Links

The Website may include links to third-party websites, including insurer portals, IRDAI resources, and informational platforms. These links are provided for convenience only. Planswell does not endorse, control, or take responsibility for the content, privacy practices, or availability of any third-party website. Accessing such links is entirely at your own risk.

12. Limitation of Liability

To the fullest extent permitted by Applicable Law:

Planswell’s total aggregate liability to you for any claim arising out of or in connection with the use of the Website or the Services shall not exceed the brokerage commission or fee actually paid by you to Planswell in the preceding twelve months (or INR 10,000, whichever is higher).
Planswell shall not be liable for any indirect, consequential, special, incidental, or punitive damages, including loss of profit, loss of business, or loss of anticipated savings, arising out of your use of the Website or Services, even if advised of the possibility of such damages.
Planswell shall not be liable for any loss or damage arising from: (a) your reliance on general Website Content not tailored to your specific circumstances; (b) errors, omissions, or inaccuracies in information you provided; (c) an Insurer’s decision to decline, modify, or terminate a policy; (d) an Insurer’s claim settlement decision; or (e) any force majeure event.
Nothing in these Terms shall limit Planswell’s liability for: (a) death or personal injury caused by our negligence; (b) fraud or fraudulent misrepresentation; or (c) any liability that cannot be excluded under Applicable Law.

13. Indemnification

You agree to indemnify, defend, and hold harmless Planswell, its directors, officers, employees, and agents from and against any claims, damages, losses, costs (including reasonable legal fees), and expenses arising out of or relating to:

Your breach of any provision of these Terms
Your violation of any Applicable Law or regulation
Your submission of false, misleading, or incomplete information to Planswell or any Insurer
Any claim by a third party arising from your use of the Website or Services
Any infringement of third-party intellectual property rights by content you submit to us

Planswell reserves the right to assume the exclusive defence of any matter subject to indemnification by you, at your cost, in which event you will cooperate fully with Planswell in asserting any available defences.

14. Confidentiality

Both parties acknowledge that in the course of the brokerage relationship, confidential information may be shared, including business strategies, financial data, risk information, and client details. Planswell commits to maintaining the confidentiality of your information in accordance with our Privacy Policy and applicable law. Similarly, you agree not to disclose any proprietary tools, frameworks, processes, or methodologies of Planswell to third parties without our written consent.

This obligation of confidentiality shall survive the termination of your use of the Services for a period of five (5) years, except where disclosure is required by law.

15. Termination and Suspension

15.1 Termination by You

You may discontinue use of the Website and Services at any time. If you have an ongoing service engagement or active policies facilitated through Planswell, you must provide written notice of termination of the advisory relationship. Termination does not affect any rights or obligations accrued prior to termination, including the continued validity of any insurance policies placed through us.

15.2 Termination or Suspension by Planswell

We may, at our sole discretion and without notice, suspend or terminate your access to the Website and Services if:

You breach any provision of these Terms
We have reason to believe you have engaged in fraudulent, illegal, or abusive conduct
Continued engagement would expose Planswell to legal, regulatory, or reputational risk
We are required to do so by IRDAI or any competent authority
Planswell ceases to operate the Website or the relevant Services

15.3 Effect of Termination

Upon termination, your right to use the Website and access our Services ceases. Sections relating to intellectual property, disclaimers, limitation of liability, indemnification, confidentiality, and governing law shall survive termination indefinitely or for such period as is specified therein.

16. Grievance Redressal

16.1 Internal Grievance Mechanism

If you have a complaint about any aspect of our Services or Website, we encourage you to contact us in the first instance:

Grievance Officer: Aayush Kumar Juneja, Co-Founder & COO

Email: aayush@planswellib.in

Phone: +91 9910901857

We will acknowledge all complaints within 72 hours of receipt and endeavour to resolve them within 30 days. Complex complaints may require additional time, and we will keep you informed of progress.

16.2 IRDAI Escalation

If you are not satisfied with our resolution of an insurance-related complaint, you may escalate your grievance to:

IRDAI — through the Bima Bharosa Integrated Grievance Management System at bimabharosa.irdai.gov.in or the IRDAI toll-free number 155255
The Insurance Ombudsman — through the Council for Insurance Ombudsmen at cioins.co.in
Consumer Forums — under the Consumer Protection Act, 2019, for consumer grievances

17. Governing Law and Dispute Resolution

17.1 Governing Law

These Terms shall be governed by and construed in accordance with the laws of the Republic of India. Any reference to statutory provisions includes any amendment, re-enactment, or replacement thereof.

17.2 Informal Resolution

In the event of any dispute, controversy, or claim arising out of or in connection with these Terms or the Services, both parties agree to attempt resolution in good faith through direct negotiation before initiating formal proceedings. Either party may initiate this process by giving written notice to the other.

17.3 Arbitration

If a dispute cannot be resolved by negotiation within 30 days of written notice, it shall be finally resolved by arbitration under the Arbitration and Conciliation Act, 1996. The arbitration shall be:

Conducted by a sole arbitrator, mutually appointed by the parties, or in the absence of agreement, appointed by the relevant authority under the Act
Held in New Delhi, India
Conducted in the English language
Binding on both parties

Nothing in this clause prevents either party from seeking urgent interim relief from a court of competent jurisdiction.

17.4 Jurisdiction

Subject to the arbitration clause above, both parties submit to the exclusive jurisdiction of the courts located in New Delhi, India for the purpose of any proceedings arising under or in connection with these Terms.

18. Force Majeure

Planswell shall not be in breach of these Terms or liable for any delay or failure in performance of any of our obligations arising from causes beyond our reasonable control, including but not limited to acts of God, natural disasters, pandemics, government actions or restrictions, regulatory interventions, power failures, internet outages, cyberattacks, or industrial disputes.

We will notify you as soon as reasonably practicable of any such event and will use reasonable endeavours to resume normal service at the earliest opportunity.

19. Anti-Money Laundering and KYC Compliance

Planswell is required to comply with the Prevention of Money Laundering Act, 2002 (PMLA), and IRDAI guidelines on Know Your Customer (KYC) procedures. You acknowledge and agree that:

We may be required to verify your identity and source of funds before placing any insurance on your behalf
You must provide valid KYC documents (such as PAN, Aadhaar, passport, or GST certificate) as required
We may be required to report suspicious transactions or activities to the Financial Intelligence Unit (FIU-IND) or other competent authorities without prior notice to you
Failure to provide satisfactory KYC documentation may result in our inability to provide Services to you

All KYC data is handled in accordance with our Privacy Policy and applicable data protection law.

20. Miscellaneous

20.1 Entire Agreement

These Terms, together with the Privacy Policy and any applicable engagement letter or service agreement, constitute the entire agreement between you and Planswell with respect to your use of the Website and Services, and supersede all prior discussions, representations, and agreements relating to the same subject matter.

20.2 Severability

If any provision of these Terms is found to be invalid, unlawful, or unenforceable by any court or regulatory authority, that provision shall be severed from the remaining Terms, which shall continue in full force and effect. The parties shall negotiate in good faith to replace the severed provision with a valid provision that most closely reflects the original intention.

20.3 Waiver

No failure or delay by Planswell in exercising any right or remedy under these Terms shall constitute a waiver of that right or remedy. A waiver must be expressed in writing signed by a duly authorised representative of Planswell to be effective.

20.4 Assignment

You may not assign or transfer your rights or obligations under these Terms without our prior written consent. Planswell may assign its rights and obligations to a successor entity in the event of a merger, acquisition, or regulatory restructuring, provided that such successor assumes our obligations under these Terms.

20.5 Relationship of Parties

Nothing in these Terms shall create or be deemed to create a partnership, joint venture, employment, or agency relationship between you and Planswell beyond the brokerage relationship explicitly established herein.

20.6 Language

These Terms are drafted in English. In the event of any inconsistency between the English version and any translated version, the English version shall prevail.

20.7 Updates to These Terms

We reserve the right to revise these Terms at any time. The most current version will always be available at www.planswellib.com/terms-of-use. We will notify active clients of material changes by email. Your continued use of the Website or Services after the updated Terms are posted constitutes acceptance of the revised Terms.