Risk Disclosure

1. General

• Insurance products are subject to the terms, conditions and exclusions in the policy document. Information on this website is a summary only.
• Claims are subject to investigation and may be rejected if policy terms are not met or material information was not disclosed at application.
• Premiums are not refundable once the free-look period has expired except under specific surrender terms.
• Lapsation due to non-payment of premiums may result in loss of coverage and forfeiture of premiums paid.

2. Life Insurance — Specific Risks

Term Life Insurance

• Term plans provide coverage only for the policy term. No benefit is payable if the insured survives to the end of the term (unless Return of Premium variant is purchased).
• Non-disclosure or misrepresentation of material facts at application may render the policy void.

ULIPs — Investment Risk

ULIPs are subject to investment market risk. The value of investments may go up or down. Past performance is not indicative of future returns. You may receive less than the amount invested.

• ULIPs have charges including Premium Allocation Charges, Policy Administration Charges, Fund Management Charges, and Mortality Charges.
• Mandatory lock-in period of 5 years. Surrender before 5 years results in proceeds going to a Discontinued Policy Fund with limited returns.
• Tax benefits under Section 80C and 10(10D) are subject to conditions and may change based on Income Tax Act amendments.

3. Health Insurance — Specific Risks

• Waiting periods apply — initial waiting period (typically 30 days), pre-existing disease waiting period (typically 2–4 years), and specific illness waiting periods. Claims during waiting periods will not be paid.
• Non-disclosure of pre-existing medical conditions may lead to claim rejection and policy cancellation.
• Room rent sub-limits may result in proportionate deductions across all claim components.
• Annual renewal is the customer's responsibility. Coverage lapses if not renewed before the due date.

4. Motor Insurance — Specific Risks

• Third-party insurance is mandatory but does not cover damage to your own vehicle.
• Driving under the influence of alcohol or drugs at the time of an accident may result in claim rejection.
• Depreciation is applied to replacement value of parts unless a Zero Depreciation add-on has been purchased.
• Mechanical or electrical breakdown without accident involvement is generally not covered.
• Flood and engine damage may require specific add-ons (Engine Protect) in some policies.

5. Free-Look Period

All life and health insurance policies are subject to a free-look period of 15 days from receipt of the policy document (30 days for policies sold through distance marketing). During this period you may return the policy for a refund of premium subject to applicable deductions as per IRDAI guidelines.

6. No Guarantee of Advice Outcomes

SagaWealth endeavours to provide accurate and suitable recommendations but cannot guarantee that any insurance product will meet all your future needs. Insurance is subject to the contract between you and the insurer. SagaWealth is not a party to that contract and is not liable for claims paid or rejected by the insurer.

Please read the policy document, Key Features Document, and Sales Brochure carefully before purchasing any insurance product. If you have questions about specific terms or exclusions, contact us at info@sagawealth.in before proceeding.