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1. DEFINITION
In this document the following words and phrases have the meaning set opposite them
unless the context indicates otherwise:
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1.1 HDFC SL refers to HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited), an Insurance
Company incorporated under the Companies Act, 1956 and having its Registered Office
at Ramon House, H T Parekh Marg, 169 Backbay Reclamation, Churchgate, Mumbai 400
020 and Corporate Office at HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited), 2nd floor,
Trade Star Building, "A" Wing, Junction of Kondivita and M.V. Road, Andheri Kurla
Road, Andheri (East), Mumbai - 400 059, (which expression shall, unless it be repugnant
to the context or meaning thereof, be deemed to mean and include its successors
and assigns);
1.2 ACCOUNT refers to the CLIENT’s Group Unit Linked Insurance Policy and/ or any
other type of Insurance Policy so designated by HDFC SL to be eligible account(s)
for operation of the ONLINE SERVICES. The term ACCOUNT shall encompass all such
policies issued by HDFC SL to either the employees of CLIENT or any other such entity
in terms of the Group Unit Linked Plans offered by HDFC SL or the Gratuity or Superannuation
Plans offered by HDFC SL The account(s) for which the ONLINE SERVICES is availed
should be in the name of the CLIENT.
1.3 CLIENT refers to a Group Business customer of HDFC SL availing ‘MY ACCOUNT’
and such other similar services (hereinafter referred to as ONLINE SERVICES) that
may be offered in future.
1.4 In the case of CLIENT being a Company, the Board of Directors, and in the case
of an CLIENT being a Trust set-up in terms of the provisions of the Income Tax Act,
1961 (as amended from time to time) and the Rules framed thereunder, the Board of
Trustees constituted in accordance with the provisions of the Trust Deed and Rules
shall authorize specific person(s) (hereinafter referred to as USER and defined
in the following paragraph) who will be allowed to have access to the ONLINE SERVICES
and the said authorization by means of a Board Resolution, as the case may be, will
be registered with HDFC SL. CLIENT INFORMATION refers to the information about the
CLIENT obtained in connection with the ONLINE SERVICES. CLIENT ID means the user
identification provided to the CLIENT by HDFC SL to enable access to its accounts
with HDFC SL. CLIENT PASSWORD means the password, digital signatures or other means
of authentication as HDFC SL may specify, from time to time, provided to/required
to be provided by the CLIENT for accessing its accounts with HDFC SL, using which
the CLIENT may authorize or authenticate the Transactions;
1.5 PERSONAL INFORMATION means the information provided by the CLIENT to HDFC SL
in the application form for availing any of the ONLINE SERVICES, as may be provided
by HDFC SL from time to time;
1.6 TRANSACTION means any transaction for switching the composition of the fund,
addition / deletion of members, premium redirection or any other financial and monetary
dealing or banking or other services now existing or being availed of or hereafter
entered into or to be provided between/by HDFC SL and/to the CLIENT. HDFC SL may
decide to permit other Transactions or to discontinue existing Transactions from
time to time, which shall be communicated in such form or manner as HDFC SL may
determine.
1.7 USER refers to a person authorized by the CLIENT who would be actually operating
the ONLINE SERVICES as agent of the CLIENT. Any communication addressed to the USER
by HDFC SL is deemed to have been addressed to the CLIENT. Similarly, any communication
and/or action of the USER through the ONLINE SERVICES offered by HDFC SL will be
legally binding on the CLIENT.
1.8 WEBSITE refers to www.hdfcinsurance.com, which is owned, operated and maintained
by HDFC SL for inter-alia offering its ONLINE SERVICES to its CLIENT. The WEBSITE
acts as a facilitator for transactions between HDFC SL and CLIENT and it shall not
be deemed to provide automatic order matching facilities. The products and services
offered through the WEBSITE may include, but not be limited to online transaction
engines, analytical tools such as information, news, trackers, calculators and risk
mitigators.
1.9 ‘MY ACCOUNT’ is the trade name of HDFC SL’s Group Online Policy Servicing initiative.
The words ‘MY ACCOUNT’ or ONLINE SERVICES are used interchangeably in this document.
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2. INTERPRETATION
All references to singular include plural and vice versa and the word "includes"
should be construed as "without limitation". All Transactions are entered into in
reliance on the fact that the Online Terms and Conditions and all other terms and
conditions specified are to be read together. In this document, all references to
the CLIENT and/or USER being referred in masculine gender will also include the
feminine gender.
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3. ‘MY ACCOUNT’
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3.1 HDFC SL shall endeavor to provide to the Client through ‘MY ACCOUNT’, services
such as enquiry about the details of the Client’s Account(s), , details about transactions
etc. and such other facilities as HDFC SL may decide to provide from time to time.
HDFC SL may also make additions/ deletions to the services offered through ‘MY ACCOUNT’
at its sole discretion. The availability/non availability of a particular service
shall be advised through email, web page of HDFC SL or written communication.
3.2 The information provided to the Client through the ‘MY ACCOUNT’ portal is not
updated continuously but at regular intervals. Consequently, any information supplied
to the Client through ‘MY ACCOUNT’ portal will pertain to the date and time when
it was last updated and not as the date and time when it is supplied to the Client.
HDFC SL shall not be liable for any loss that the Client may suffer by relying on
or acting on such information.
3.3 As part of the ‘MY ACCOUNT’, HDFC SL may provide the Client access to data /
information / reports compiled / provided by a third party. HDFC SL does not give
any representation or warranty as to the accuracy / veracity of such data / information
/ reports. Further, the Client shall not disseminate, publish or circulate such
data / information/ report or any part thereof without the prior consent of HDFC
SL (as the case may be) and the third party.
3.4 HDFC SL may keep its records of the transactions in any form it wishes. In any
dispute, HDFC SL’s records shall be binding as the conclusive and best evidence
of the transactions carried out through ‘MY ACCOUNT’ in the absence of clear proof
that HDFC SL’s records are erroneous or incomplete.
3.5 Any request for any service, which is offered as a part of ‘MY ACCOUNT’, shall
be binding on the Client as and when HDFC SL receives such a request. If any request
for a service is such that it cannot be given effect to unless it is followed up
by requisite documentation on part of the Client, HDFC SL shall not be required
to act on the request until it receives such documentation from the Client.
3.6 HDFC SL shall take all reasonable care to, ensure the security of and to prevent
unauthorized access to the ‘MY ACCOUNT’ Service using technology reasonably available
to HDFC SL. The client shall ensure that ‘MY ACCOUNT’ or any related service is
not used for any purpose which is illegal, or which is not authorized in terms of
this agreement or which is improper.
3.7 ACCESSING ONLINE SERVICES - HDFC SL may offer ONLINE SERVICES to selected CLIENTS
at its discretion. The CLIENT would need to be an Internet user or have legal access
to the Internet and knowledge of how the Internet works. HDFC SL will advise from
time to time the Internet software such as Browsers, which are required for accessing
the ONLINE SERVICES. There will be no obligation on HDFC SL to support all the versions
of the Internet software.
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4. NOTICES
HDFC SL and the CLIENT may give notices under these terms:
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Electronically to the mailbox of either Party.
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In writing by delivering them by hand or by sending them by post to the last address
given by the CLIENT and in the case of HDFC SL to the below mentioned address.
HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited)
Group Operations Department
Trade Star, Second
Floor, A Wing
Andheri – Kurla Road
Andheri (East)
Mumbai 400 059
In addition, HDFC SL may also publish notices of general nature on its WEBSITE,
which are applicable to all CLIENTS. Such notices shall have the same effect as
a notice served individually to each CLIENT.
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5. AUTHENTICATION
PROCEDURE
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5.1 The Client acknowledges, represents and warrants that the Client Password which
will be issued to it, provides access to Client’s account and that Client is the
sole and exclusive owner and is the only authorized user of the Client Password
and accepts sole responsibility for use, confidentiality and protection of the Client
Password, as well as for all orders and information changes entered into Client’s
account using such Client Password. The Client grants express authority to HDFC
SL for carrying out Transactions and instructions authenticated by the Client Password.
HDFC SL would have the right to require the Customers to authorize use, operate
or otherwise authorize, the Transactions by means of digital signatures or other
means of authentication as HDFC SL may require and/or discontinue the usage of the
Client Password.
5.2 The Client shall comply with such guidelines, instructions or terms as HDFC
SL may prescribe from time to time with respect to the Client Password.
5.3 The CLIENT shall comply and confirm with the prescribed requirements for the
purposes of due authentication.
5.4 The CLIENT agrees to confirm to the prescribed authentication technologies and
security measures required for TRANSACTIONS and undertakes to take all reasonable
steps to ensure that the CLIENT PASSWORD is not revealed to any third Party.
5.5 The USER would be allotted a User-Id and a secret CLIENT PASSWORD by HDFC SL
in the first instance. The USER will be required to change the CLIENT PASSWORD assigned
by HDFC SL on accessing the ONLINE SERVICES for the first time. As a safety measure
the USER shall change the CLIENT PASSWORD as frequently thereafter as possible.
In addition to User-Id and CLIENT PASSWORD HDFC SL may, at its discretion, advise
the USER to adopt such other means of authentication including but not limited to
digital certification and/ or smart cards.
5.6 The CLIENT is entirely responsible for the safekeeping and use of the CLIENT
ID and CLIENT PASSWORD and where applicable, any damages and other consequences
of their misuse.
5.7 The CLIENT must exercise due care to see that the confidentiality of the CLIENT
PASSWORD and CLIENT ID is maintained. If third parties gain access to the services,
including CLIENT’s accounts , CLIENT will be responsible and shall indemnify HDFC
SL against any liability, costs or damages arising out of claims or suits by such
third parties based upon or relating to such access and use.
5.8 HDFC SL has no obligation to verify the authenticity of any Transaction instruction
sent or purported to have been sent from the CLIENT other than by means of verification
of the CLIENT PASSWORD. The CLIENT accepts full responsibility for the monitoring
and safeguarding of CLIENT’S accounts.
5.9 The CLIENT shall ensure that the USER shall not attempt to access the information
and other details not pertaining to him stored in the computers of HDFC SL through
any means. The CLIENT should also ensure that unauthorized persons are not allowed
to access its ACCOUNT(S).
5.10 The CLIENT shall ensure that the USER shall not use the facilities provided
as a part of the ONLINE SERVICES to attempt to access information stored in the
computers of HDFC SL that pertains to accounts of a third party with HDFC SL or
transactions between HDFC SL and any third party.
5.11 The CLIENT understands and agrees that the password is for the purpose of verifying
the authenticity of the transactions undertaken by the CLIENT and shall have the
same effect as the specimen signature of authorized signatory of the CLIENT and
the CLIENT shall be bound by the transactions initiated by use of password.
5.12 HDFC SL shall advise the CLIENT that it must:
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Keep the CLIENT ID and CLIENT PASSWORD confidential and not reveal the CLIENT PASSWORD
to any third party.
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Choose a CLIENT PASSWORD which shall be at least 6 characters and does not relate
to any readily accessible personal data such as name, address, telephone number,
etc. of the CLIENT or any other easy combination of letters and numbers;
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Commit the CLIENT ID and CLIENT PASSWORD to memory and not record them in written
or electronic form
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Not let any unauthorized person have access to its computer and not to leave the
computer unattended whilst accessing any product and/or service or the WEBSITE.
If the CLIENT forgets or loses the CLIENT ID or CLIENT PASSWORD, the CLIENT can
request for change of the CLIENT PASSWORD by sending a duly authorized written request
or via authorized electronic mail to HDFC SL.
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6. INSTRUCTIONS,
ETC. BY THE CLIENT
Any instruction, order, direction, request entered using Client’s password shall
be deemed to be an instruction, order, directive, request received from the Client
or its duly authorized representative or Client’s duly authorized designee’s. All
instructions, requests, directives, orders, directions, entered by the Client, either
electronically or otherwise, are based upon the Client’s decisions and are the sole
responsibility of the Client. The Client understands that entering an instruction,
direction, order, request with HDFC SL, either electronically or otherwise, does
not guarantee execution of such instruction, direction, order or request. HDFC SL
shall not be deemed to have received any instruction, direction, order, request
electronically transmitted by the Client until it confirms the receipt of such instruction,
direction, order, request.
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7. COMMUNICATIONS
THROUGH ELECTRONIC MEANS
Documents sent by electronic delivery will contain all the information as it appears
in the printed hard copy version as prepared and distributed by the originator,
with the possible exception of graphic insertions such as photographs or logotypes.
Electronic delivery may be in the form of an electronic mail, an attachment to the
electronic mail, or in the form of an available download from the Website. HDFC
SL would be deemed to have fulfilled its legal obligation to deliver to the Client
any document if such document is sent via electronic means. Failure to advise HDFC
SL of any difficulty in opening a document so delivered within twenty-four (24)
hours after delivery shall serve as an affirmation regarding the acceptance of the
document. Monitoring and Recording Telephone conversations and email For the protection
of the concerned Parties, and as a tool to correct misunderstandings, the Client
understands, agrees and authorizes HDFC SL’s discretion, and without further prior
notice to the Client, to monitor and record any or all telephone conversations or
electronic communications between the Client and HDFC SL and any of its employees
or agents.
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8. CHARGES
HDFC SL may levy service charges for use of ‘MY ACCOUNT’, which will be notified
by HDFC SL to the Client from time to time. Any change in such service charges will
also be notified to the Client. The Client authorizes HDFC SL to recover all charges
related to ‘MY ACCOUNT’ as determined by HDFC SL from time to time by debiting one
of the Client’s Accounts.
HDFC SL may withdraw the ‘MY ACCOUNT’, if at any time the amount of the Account
falls short of the required minimum as may be specified and/or if the service charges
remain unpaid, without giving any further notice to the Client and/or without incurring
any liability or responsibility whatsoever by reason of such withdrawal.
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9. AUTHORITY TO HDFC
SL
Access to transactions in the Account(s) are permitted through ‘MY ACCOUNT’ by HDFC
SL only after due authentication of the User by any means including ‘MY ACCOUNT’
User-Id and password. The Client grants express authority to HDFC SL for implementing
the instructions given by the User. HDFC SL shall have no obligation to verify the
authenticity of any transaction / instruction received or purported to have been
received from the User and / or the Client through ‘MY ACCOUNT’ or purporting to
have been sent by the Client via ‘MY ACCOUNT’ other than by means of verification
of the Online Services User-Id and the password.
The display or printed output that is produced by the User at the time of operation
of ‘MY ACCOUNT’ is a record of the operation of the Internet access and shall not
be construed as HDFC SL’s record of the relative transactions. HDFC SL’s own records
of transactions maintained through computer systems or otherwise shall be accepted
as conclusive and binding for all purposes.
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10. ACCURACY OF INFORMATION
Client is responsible for the correctness of information supplied to HDFC SL through
the use of ‘MY ACCOUNT’ or through any other means such as electronic mail or written
communication. HDFC SL accepts no liability for the consequences arising out of
erroneous information supplied by the Client or the User. If the Client suspects
that there is an error in the information supplied to HDFC SL by him, he shall advise
HDFC SL as soon as possible. HDFC SL will endeavor to correct the error wherever
possible on a .best efforts basis.
If the Client notices an error in the account information supplied to him through
‘MY ACCOUNT’ or by the use of any of the Online Services, he shall advise HDFC SL
as soon as possible. HDFC SL will endeavor to correct the error promptly.
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11. GOVERNING LAW
AND JURISDICTION
The provisions of these Terms and Conditions shall be governed by, and construed
in accordance with Indian law and the courts at Mumbai shall have the exclusive
jurisdiction in respect of the subject matter hereof.
Any dispute, controversy or claims arising out of or relating to the ONLINE SERVICES
or the breach, termination or invalidity of these Terms and Conditions, shall be
settled by arbitration in accordance with the provisions of the Indian Arbitration
and Conciliation Act, 1996.
In the event of a dispute between the CLIENT and HDFC SL with respect to any matter
arising hereunder, an arbitrator shall be appointed by HDFC SL.
The place of arbitration shall be Mumbai and any award whether interim or final,
shall be made, and shall be deemed for all purposes between the parties to be made,
in Mumbai.
The arbitral procedure shall be conducted in English language and any award or awards
shall be rendered in English. The procedural law of the arbitration shall be Indian
law.
The award of the arbitrator shall be final and conclusive and binding upon the Parties,
and the Parties shall be entitled (but not obliged) to enter judgement thereon in
any one or more of the highest courts having jurisdiction. Neither Party shall seek
to resist the enforcement of any award in India on the basis that award is not subject
to such provisions.
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12. FOREIGN JURISDICTION
HDFC SL accepts no liability whatsoever, direct or indirect, for non-compliance
with the laws of any country other than that of India. The mere fact that the WEBSITE
can be accessed by a person in a country other than India would not mean that the
laws of the said country would govern the ONLINE SERVICES and any matter related
to hereunder.
The ONLINE SERVICES shall not be available to foreign residents where the ONLINE
SERVICES cannot be offered without prior regulatory compliance. It shall be the
sole responsibility of foreign residents to verify whether the ONLINE SERVICES can
be legally accessed and/or utilised in their respective jurisdictions. The Services
do not constitute an offer to sell or a solicitation of an offer to buy any Services
to any person in any jurisdiction.
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13. PRIVACY POLICY
In the process of using this WEBSITE, HDFC SL may be privy to information relating
to the CLIENT, including information that is of a confidential nature. HDFC SL is
strongly committed to protecting the privacy of its CLIENT's and has taken steps
to protect the information furnished to it. HDFC SL has taken all necessary measures
to protect the confidentiality of the information and their transmission under the
Service and - HDFC SL shall not be held liable for disclosure of the confidential
information, unless gross negligence is established on the part of HDFC SL.
The CLIENT shall not disclose, in any manner whatsoever, any information relating
to HDFC SL, of a confidential nature obtained in the course of availing the Services
through the WEBSITE, to any other person. Failure to comply with this obligation
shall be deemed a serious breach of these Terms and Conditions and shall entitle
HDFC SL to terminate the Online Services without prejudice to any damages to which
it may be entitled. HDFC SL undertakes not to disclose the information provided
by the CLIENT to any person, unless acting under good faith that such action is
necessary to:
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conform to legal requirements or comply with legal process;
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protect and defend HDFC SL rights or property;
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enforce the Terms and Conditions; or
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act to protect the interests of HDFC SL’s members or others.
HDFC SL may also use information including the Personal Information of the CLIENT,
share the information with Affiliates and third parties for providing Online Services
and any service-related activities such as collecting subscription fees for those
Online Services, and notifying or contacting the CLIENT regarding any problem with,
or the expiration of, such Online Services. In this regard, it may be necessary
to disclose the Personal Information to one or more agents and contractors of HDFC
SL and their sub-contractors, but such agents, contractors, and sub-contractors
will be required to agree to use the information obtained from HDFC SL only for
these purposes.
The CLIENT authorizes HDFC SL to exchange, share, part with all information related
to the details and transaction history of the CLIENT to banks / financial institutions
/ credit bureaus / agencies/participation in any telecommunication or electronic
clearing network as may be required by law or customary practice and shall not hold
HDFC SL liable for use or disclosure of this information.
The CLIENT agrees that HDFC SL or its contractors may hold and process his Personal
Information on computer or otherwise in connection with Online Services as well
as for statistical analysis and credit scoring.
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14. RELATIONSHIP
BETWEEN PARTIES
The Parties agree that no joint venture, partnership, employment, or agency relationship
exists between them as a result of availing the ONLINE SERVICES or use of this WEBSITE.
All TRANSACTIONS shall be entered into by the Parties as principals and HDFC SL
and/or Affiliates shall have no fiduciary duty towards the CLIENT whatsoever notwithstanding
that there may be an existing relationship between the Parties.
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15. REPRESENTATION
BY THE CLIENT
The CLIENT represents to HDFC SL (which representations will be deemed to be repeated
by the CLIENT on each date on which a Transaction is entered into) that:-
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The CLIENT has the power to perform its obligations hereunder and has taken all
necessary action to authorize such execution, delivery and performance;
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It shall be the sole responsibility of the CLIENT to comply with all the internal
approvals for entering into TRANSACTIONS as may be required.
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Such execution, delivery and performance does not violate or conflict with any law
applicable to it and/or any regulatory requirements, any provision of its constitutional
documents, any order or judgment of any court or other agency of government applicable
to it or any of its assets or any contractual restriction binding on or affecting
it or any of its assets;
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There is not pending or, to its knowledge, threatened against the CLIENT any action,
suit or proceeding at law or in equity or before any court, tribunal, governmental
body, agency or official or any arbitrator that is likely to affect the legality,
validity or enforceability against it of these Terms and Conditions or its ability
to perform its obligations; and
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All applicable information that is furnished in writing, by or on behalf of the
CLIENT, to HDFC SL is, as of the date of the information, true, accurate and complete
in every material respect. Provided that the CLIENT shall intimate HDFC SL of any
change in any regulatory requirements, the effect of which may be to restrict or
prohibit the CLIENT from executing any Transaction.
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16. TERMINATION EVENTS
This ONLINE SERVICE may be terminated by the CLIENT by giving at least one (1) month
written notice and upon HDFC SL according its consent in writing to the same. The
termination of the Service shall be without prejudice to the execution of all outstanding
TRANSACTIONS entered into between the Parties.
HDFC SL reserves the right to interrupt, suspend or terminate, at any time, without
specifying any reason, the access of the CLIENT to the Online Services offered hereunder
and will make best efforts to give the CLIENT appropriate notice of the same without
assigning any reason and without being liable for any loss/damage/cost of any nature
whatsoever to the CLIENT
HDFC SL shall immediately on the CLIENT surrendering his policy terminate the CLIENT
ID and the CLIENT PASSWORD.
The occurrence at any time with respect to a Party of any of the following events
constitutes an event of default and the ONLINE SERVICES may be terminated forthwith:-
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Failure by the Party to comply with or perform any obligation under the Terms and
Conditions specified hereunder and if such failure is not remedied on or before
the thirtieth day after notice of such failure is given to the Party;
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A representation made or deemed to have been made by the Parties proves to have
been incorrect or misleading in any material respect when made or deemed to have
been made;
- The occurrence of an "Additional Termination Event"; viz.
The CLIENT:-
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Having a resolution passed for its winding-up, official management or liquidation
(other than pursuant to a consolidation, amalgamation or merger).
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Becoming insolvent or is unable to pay its debts or fails or admits in writing its
inability generally to pay its debts as they become due.
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Making a general assignment, arrangement or composition with or for the benefit
of its creditors.
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Instituting or has instituted against it a proceeding seeking a judgment of insolvency
or bankruptcy or any other relief under any bankruptcy or insolvency law or other
similar law affecting creditor's rights, or a petition is presented for its winding-up
or liquidation, and, in the case of any such proceeding or petition instituted or
presented against it, such proceedings or petition
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Results in a judgment of insolvency or bankruptcy or the entry of an order for relief
or the making of an order for its winding-up or liquidation or is not dismissed,
discharged, stayed or restrained in each case within 30 days of the institution
or presentation thereof;
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Seeking or becomes subject to the appointment of an administrator, provisional liquidator,
conservator, receiver, trustee, custodian or other similar official for it or in
respect of all or substantially all its assets;
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Having a secured party take possession of all or substantially all its assets or
has a distress, execution, attachment, sequestration or other legal process levied,
enforced or sued on or against all or substantially all its assets and such secured
party maintains possession, or any such process is not dismissed, discharged, stayed
or restrained, in each case within 30 days thereafter;
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Causing or is subject to any event with respect to it which, under the applicable
laws of any jurisdiction, has an analogous effect to any of the events specified
in clauses (1) to (7) (inclusive); (8) taking any action in furtherance of, or indicating
its consent to, approval of, or acquiescence in, any of the foregoing acts.
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17. LIMITATION OF
LIABILITY
HDFC SL shall not be liable for any inaccuracy, error or delay in, or omission of,
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any data, information or message, or
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the transmission or delivery of any such data, information or message; or
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any loss or damage arising from or occasioned by
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any such inaccuracy, error, delay or omission,
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non-performance or
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interruption in any such data, information or message, or if access to the Accounts
is not available in the desired manner due to force majeure. (e.g. flood, extraordinary
weather condition, earthquake or other act of God, fire, war, insurrection, riot,
labour dispute, accident, action of government, communications, power failure, equipment
or software malfunction) or any other cause beyond the reasonable control of HDFC
SL.
The CLIENT will immediately notify HDFC SL in writing, delivered via e-mail or registered
post, if CLIENT becomes aware of any loss, theft or unauthorized use of CLIENT’s
USER ID and PASSWORD; or any failure by CLIENT to receive a message from HDFC SL
indicating that an order was received and executed; or any failure by CLIENT to
receive an accurate written confirmation of an execution; or any receipt by CLIENT
of confirmation of an order and/ or execution which CLIENT did not place; or any
inaccurate information in CLIENT’s account summaries and statements, fund positions,
or Transaction history. If CLIENT fails to notify HDFC SL immediately upon CLIENT’s
knowledge when any of the above conditions occur, neither HDFC SL nor any of its
officers, directors, employees, agents can or will have any responsibility or liability
to CLIENT or to any other person whose claim may arise through the CLIENT for any
claims with respect to the handling, mishandling or loss of any order. HDFC SL will
upon notice, halt or take such steps as are necessary to protect the CLIENT’s interest
and which steps are capable or permitted for HDFC SL to do or undertake. Prior to
giving of the notice, any loss or damage shall be to the CLIENT’s account.
Under no circumstances, shall HDFC SL, its employees, directors, and its third party
agents involved in creating, producing, delivering or managing the Services, be
liable for any direct, indirect, incidental, special or consequential damages, or
any damages whatsoever, including punitive or exemplary (including, but not limited
to, damages caused by any virus, personal injury, negligence, loss of profits, loss
of data or other intangible information, business interruption, loss of privacy,
or any pecuniary loss), arising out of or in any way connected with the use/delivery/performance
of the WEBSITE, the delay or inability to use the WEBSITE or any links or items
on the WEBSITE, the provision of or any inadequacy or deficiency in the provision
of services or resulting from unauthorized access or alteration of transmissions
or data or arising from interruption, suspension or termination of the Services
or for any loss arising from the failure by the CLIENT to comply with any installation
instructions or any inability of HDFC SL to receive instructions, directions, orders
or other communications from the CLIENT or to transmit any related message for any
reason whatsoever, whether based on contract, tort, strict liability or otherwise.
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18. INTERRUPTION
OF SERVICE
Where the Service provided herein is interrupted for any reason whatsoever, the
CLIENT may contact HDFC SL. HDFC SL shall in no way be liable for the consequences
of any interruption in the Service.
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19. RIGHT TO ALTER
THE SERVICES AND TERMS AND CONDITIONS OF THE SERVICES
HDFC SL reserves the right to add, amend, revise, suspend or cancel in whole or
in part any of the ONLINE SERVICES available through the WEBSITE, and will make
best efforts to provide appropriate notice to the CLIENT. Any addition, suspension,
revision, amendment, cancellation or suspension of the terms as notified on the
WEBSITE may be made by HDFC SL, by causing a notice of the same to be posted on
the WEBSITE and the CLIENT shall be deemed to have accepted the same in the event
of its executing any transaction through the WEBSITE after the addition, suspension,
revision, amendment, cancellation or suspension has been notified. HDFC SL may introduce
new services in relation to the WEBSITE from time to time. The existence and availability
of the new ONLINE SERVICES will be notified on the WEBSITE, as and when they become
available.
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20. RESTRICTIONS
ON USE
The CLIENT hereby agrees to use the WEBSITE strictly for its internal use and not
for any illegal purpose or in any manner inconsistent with the Terms and Conditions.
The CLIENT agrees not to use, transfer, distribute or dispose of any information
contained in the WEBSITE in any manner that could compete with the business of HDFC
SL or otherwise compromise or imperil the interests of HDFC SL . The CLIENT acknowledges
that the WEBSITE has been developed, compiled, prepared, revised, selected and arranged
by HDFC SL and others (including certain other information sources) through the
application of methods and standards of judgment developed and applied through the
expenditure of substantial time, effort and money and constitutes valuable intellectual
property and may also include trade secrets of HDFC SL and such others. The CLIENT
agrees to protect the proprietary rights of HDFC SL and other parties during and
after the term of the Online Services and to comply with all reasonable written
requests made by HDFC SL or its suppliers of content, equipment or otherwise to
protect their and others' contractual, statutory and common law rights in the WEBSITE.
The CLIENT agrees to notify HDFC SL in writing promptly upon becoming aware of any
unauthorized access or use of the WEBSITE by any party or of any claim that the
WEBSITE infringes upon any copyright, trademark or other contractual, statutory
or common law rights.
The CLIENT is allowed to download and retrieve data from the WEBSITE on its computer
screen, print individual pages on paper, photocopy and store such pages in an electronic
form on disk for its exclusive personal use only. The CLIENT further acknowledges
that all the intellectual property in the WEBSITE and the Service provided continues
to vest with HDFC SL.
The CLIENT shall not:
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reverse engineer, decompile, disassemble, copy, reproduce, distribute, modify, transmit,
perform, reproduce, publish or create derivative works from or in any way exploit
any of the Service in violation of the Terms and Conditions or the laws of India;
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create a database in electronic or structured manual form by systematically downloading
and storing all or any of the Service, save and except such information as relates
to the CLIENT’s accounts and Transactions, as the case may be;
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rent, lease, sell, sublicense, or lend any other person access to the WEBSITE and
to the Service;
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cache or permit caching by any person
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do any act that violates the intellectual property right of HDFC SL or of any other
third party in the WEBSITE or the Service offered thereof;
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engage in any fraudulent, abusive or illegal activity, including but not limited
to any activity designed or intended to fraudulently obtain the CLIENT PASSWORD
or any private information of any user of the WEBSITE;
-
use the WEBSITE or the Service to violate the security of any computer network,
crack PASSWORD of any other user or security encryption codes, transfer or store
illegal material including threatening or obscene material;
-
run mail list or any form of auto-responder, or spam on the WEBSITE.
HDFC SL may offer at the WEBSITE facility for discussions, chats, postings, transmissions,
bulletin boards, and the like, and although HDFC SL has the right to monitor or
review any Service, HDFC SL is under no obligation to do so and assumes no responsibility
or liability arising from the content of any such discussions, postings, transmissions
nor for any error, defamation, libel, slander, omission, falsehood, obscenity, pornography,
profanity, danger, or inaccuracy contained in any information contained within such
locations on the WEBSITE. The CLIENT is prohibited from posting or transmitting
any unlawful, threatening, libelous, defamatory, obscene, scandalous, inflammatory,
pornographic, or profane material or any material that could constitute or encourage
conduct that would be considered a criminal offense, give rise to civil liability,
or otherwise violate any law. HDFC SL will fully cooperate with any law enforcement
authorities or court order requesting or directing HDFC SL to disclose the identity
of anyone posting any such information or materials. The CLIENT shall not delete
copyright or other intellectual property rights notices from printouts, copies or
reproductions of electronically accessed materials obtained from the WEBSITE.
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21. PROPRIETARY AND
INTELLECTUAL PROPERTY RIGHTS
The copyright, trademarks, logos, slogans and service marks displayed on the WEBSITE,
are registered and unregistered intellectual property rights of HDFC SL or of respective
intellectual property right owners. Nothing contained on the WEBSITE should be construed
as granting, by implication, estoppel, or otherwise, any license or right to use
any intellectual property displayed on the WEBSITE without the written permission
of HDFC SL or such third party that may own the intellectual property displayed
on the WEBSITE. HDFC SL neither warrants nor represents that the use of materials
displayed on the WEBSITE by the CLIENT will not infringe patent, copyright or any
intellectual property rights or any other rights of third parties not owned by or
affiliated with HDFC SL. HDFC SL grants the right to access the WEBSITE to the CLIENT
and use the Services in accordance with these Terms and Conditions and the Schedules
annexed hereto. The CLIENT acknowledges that the Services including, but not limited
to, text, content, photographs, video, audio and graphics, are either the property
of, or used with permission by, HDFC SL and/or by the content providers and may
be protected by applicable copyrights, trademarks, service marks, international
treaties and/or other proprietary rights and laws of India and other countries,
and the Terms and Conditions.
The CLIENT should assume that everything it sees or reads on the WEBSITE (including
but not limited to directories, guides, news articles, opinions, reviews, text,
photographs, images, illustrations, profiles, audio clips, video clips, trademarks,
service marks and the like, collectively "the Content") is copyrighted/ protected
by intellectual property laws unless otherwise provided and may not be used, except
as provided in these Terms and Conditions, without the prior written permission
of HDFC SL or the relevant copyright owner. The CLIENT is also advised that HDFC
SL will aggressively enforce its intellectual property rights to the fullest extent
of the law, including the seeking of criminal prosecution. Any breach of the restrictions
on use provided in these terms and conditions is expressly prohibited by law, and
may result in severe civil and criminal penalties. HDFC SL shall be entitled to
obtain equitable relief (including all damage, direct, indirect, consequential and
exemplary) over and above all other remedies available to it, to protect its interests
therein. The CLIENT acknowledges that the software underlying the Services as well
as other Internet related software which are required for accessing service are
the legal property of the respective vendors. The permission given by HDFC SL to
access the Services shall not convey any patent, copyright and license, proprietary
or ownership rights or other intellectual property rights in the above software.
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22. EXTRAORDINARY
EVENTS/ TECHNICAL DIFFICULTIES
The CLIENT specifically agrees to hold HDFC SL harmless from any and all claims,
and agrees that HDFC SL shall not be liable for any loss, actual or perceived, caused
directly or indirectly by government restriction, exchange or market regulation,
suspension of trading, war, strike, virus attacks, equipment failure, communication
line failure, system failure, security failure on the Internet, unauthorized access,
theft, or any problem, technological or otherwise or other conditions beyond HDFC
SL’s control, that might prevent CLIENT from entering or HDFC SL from executing
an instruction, order, direction. CLIENT further agrees that the CLIENT will not
be compensated by HDFC SL for .lost opportunity. viz., notional profits on orders,
instructions, directions which could not be executed.
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23. LINKS TO WEBSITES
This WEBSITE may contain links to other websites operated by other parties. Such
links are provided for the convenience of the CLIENT only and HDFC SL does not control
or endorse such websites, and is not responsible for their contents. The use of
such WEBSITE is also subject to the terms of use and other terms and guidelines,
if any, contained within each such WEBSITE. In the event that any of the terms contained
herein conflict with the terms of use or other terms and guidelines contained within
any such WEBSITE, then the terms of use and other terms and guidelines for such
WEBSITE shall prevail. The linked web sites are not under the control of HDFC SL
and it is not responsible for the contents of any linked website or any link contained
in a linked website, advertisements appearing in or Services offered by or any changes
or updates to such websites.
This WEBSITE may contain links to websites, web-pages and services also operated
by HDFC SL (the "HDFC SL Sites"), and the CLIENT’s use of each HDFC SL Site is also
subject to the Terms and Conditions herein and other terms and guidelines, if any,
governing such HDFC SL Site. In the event that any of the terms, conditions, and
notices contained herein conflict with the terms and conditions governing such HDFC
SL Site, then the terms and conditions governing such HDFC SL Site shall prevail.
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24. PROCEDURE FOR
CHANGING USERS
The CLIENT can revoke the authority of an existing USER, change his USER access
profile/authorize a new USER by giving a resolution/mandate in the format prescribed
by HDFC SL. However, all the terms and conditions herein shall continue to apply.
In case an authorized USER leaves the services of the CLIENT, the CLIENT shall immediately
notify HDFC SL to disable the user access, giving HDFC SL reasonable time to do
so.
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25. EXECUTION OF
THE INSTRUCTIONS, ETC.
The CLIENT agrees to provide HDFC SL, if so being required to do or if in case it
is deemed necessary by HDFC SL, with a power of attorney in such form, manner or
substance as HDFC SL may require.
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26. RIGHTS GRANTED
The CLIENT hereby acknowledges and agrees that any rights not expressly granted
herein are reserved.
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27. AMENDMENTS AND
MODIFICATIONS
HDFC SL has the absolute discretion to amend or supplement the Terms and Conditions
herein, by modifying or rescinding any of the existing provisions or conditions
or by adding any new provision or condition, by conspicuously posting notice of
such amendment on the WEBSITE or by providing written notice to the CLIENT. Continued
use of Online Services after such notice will constitute acknowledgment and acceptance
of such amendment.
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28. SURVIVAL OF OBLIGATIONS
The obligations of the Parties under these Terms and Conditions shall survive the
termination of any Transaction.
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29. REMEDIES CUMULATIVE.
Except as provided in these Terms and Conditions, the rights, powers, remedies and
privileges provided in these Terms and Conditions are cumulative and not exclusive
of any rights, powers, remedies and privileges provided by law.
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30. NO WAIVER OF
RIGHTS.
A failure or delay in exercising any right, power or privilege in respect of these
Terms and Conditions will not be presumed to operate as a waiver, and a single or
partial exercise of any right, power or privilege will not be presumed to preclude
any subsequent or further exercise, of that right, power or privilege or the exercise
of any other right, power or privilege.
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31. SEVERABILITY
If any provision or condition of these Terms and Conditions shall be held to be
invalid or unenforceable by reason of any law, rule, administrative order or judicial
decision by any court, or regulatory or self-regulatory agency or body, such invalidity
or unenforceability shall attach only to such provision or condition. The validity
of the remaining provisions and conditions shall not be affected thereby and these
Terms and Conditions shall be carried out as if any such invalid or unenforceable
provision or condition was not contained herein.
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32. HEADINGS
The clause headings in these Terms and Conditions are only for convenience and do
not affect the meaning of the relative term.
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33. LEGALITY OF THE
TERMS AND CONDITIONS
HDFC SL’s performance of these Terms and Conditions is subject to existing laws
and legal process, and nothing contained in these Terms and Conditions is in derogation
of HDFC SL’s right to comply with governmental, court and law enforcement requests
or requirements relating to the use of this WEBSITE by the CLIENT or information
provided gathered by HDFC SL in respect of such use.
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34. NON-TRANSFERABILITY
The grant of any facility to the CLIENT or its USERS under ONLINE SERVICES is not
transferable under any circumstance.
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35. DISCLAIMER OF
WARRANTIES
The Client expressly agrees that use of the Website is at its sole risk. The Website
is provided on an “as is and as available basis”. Except as warranted in the Terms
and Conditions, HDFC SL expressly disclaims all warranties of any kind, whether
express or implied or statutory, including, but not limited to the implied warranties
of merchantability, fitness for a particular purpose, data accuracy and completeness,
and any warranties relating to non-infringement in the Services.
HDFC SL does not warrant that access to the Website and the Services will be uninterrupted,
timely, secure, or error free nor does it make any warranty as to the results that
may be obtained from the Website or use of the Services or as to the accuracy or
reliability of the Services. HDFC SL makes no warranty regarding the Transactions
entered into through the Website.
HDFC SL will not be liable for any virus that may enter the CLIENT’s system as a
result of the Client using the Services. HDFC SL does not guarantee to the Client
or any other third party that the Services would be virus free.
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36. ACCOUNT LINKING
FOR GROUP ONLINE POLICY SERVICING
HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) while issuing a policy, issues the same under
a Group/Account ID. The Client agrees that the Group/Account ID specified hereinabove
or such Group/Account ID that would get allotted pursuant to the request for issuing
the policy shall be used to identify the Client and the account linking for Group
Online Transaction would be carried out on the basis of such Group/Account ID.
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37. INDEMNITY
The Client agrees, at its own expense, to indemnify, defend and hold harmless HDFC
SL, its directors and employees, representatives, agents, and its Affiliates against
any claim, suit, action or other proceeding brought against HDFC SL, its directors
and employees, representatives, agents, and Affiliates by a third party, to the
extent that such claim, suit, action or other proceeding brought against HDFC SL,
its directors and employees, representatives, agents, and Affiliates is based on
or arises in connection with the user of the Service with reference to :
-
A violation of the Terms and Conditions contained herein by the Client;
-
Any deletions, additions, insertions or alterations to, or any unauthorized use
of the Services by the Client
-
Any misrepresentation or breach of representation or warranty made by the Client
contained herein; or
-
Any breach of any covenant or obligation to be performed by the Client hereunder.
The Client agrees to pay any and all costs, damages and expenses, including, but
not limited to, reasonable attorneys. fees and costs awarded against it or otherwise
incurred by or in connection with or arising from any such claim, suit, action or
proceeding attributable to any such claim.
The Client hereby agrees that under all circumstances, HDFC SL’s aggregate liability
for claims relating to the Service, whether for breach or in tort including but
not limited to negligence shall be limited to the transaction charges/fees or consideration
paid by the client within the previous twelve (12) months for the service, excluding
any amount paid towards transactions.
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38. UNIT PRICE
The rules governing determination of unit price for allocation or deallocation of
units are as specified in policy documents and are final. The rules, in brief, are
reproduced as below.
These rules will specify which day’s unit prices are used for requests made on a
specific day and time subject to a cut-off time.
For the first premium, allocation rules will apply to the day and time on which
the policy is issued. For subsequent premiums and premium top-ups, the allocation
rules will apply to the date and time HDFC SL receives the intimation and the payment.
All allocations or deallocation of units for transactions initiated by the policyholder
(like premium payments, fund switches, revival, surrenders, partial withdrawals
etc) will be processed using the unit price of the same day to be declared at end
of that day provided an asset valuation happens. If it is not a valuation day, HDFC
SL will use the unit price of the immediately next valuation day.
The cut-off time for this will be 03:00 pm.
For outstation cheques, the allocation will be based on the day the cheque is realized.
In case of renewal premium if the delay in realization causes the policy to cross
the grace period, HDFC SL will lapse/ make paid-up the policy.
Policy charges which are taken through deallocation of units will use either the
unit price of the same day if it is a valuation day otherwise, HDFC SL will use
the unit price of the valuation day last available.
Policy cancellations initiated by us should use either the unit price of the same
day if it is a valuation day otherwise HDFC SL will use the unit price of the valuation
day last available.
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39. SPECIAL RULES
FOR LARGE TRANSACTIONS
For Large Transactions, the rules governing determination of unit price for allocation
or deallocation of units are as specified in the policy documents.
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40. DISCLAIMERS IN
CASE OF UNIT LINKED POLICIES
- Unit Linked Life Insurance products are different from the traditional insurance
products and are subject to the risk factors.
- The premium paid in Unit Linked Life Insurance policies are subject to investment
risks associated with capital markets and the NAVs of the units may go up or down
based on the performance of fund and factors influencing the capital market and
the insured is responsible for his/her decisions.
- HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) is only the name of the Insurance Company
and the names of the Unit Linked Plans offered by the Company are only the names
of the unit linked life insurance contract and do not in any way indicate the quality
of the contract, its future prospects or returns.
- Please acquaint yourself with the associated risks and the applicable charges, from
your Financial Consultant or Corporate Financial Consultant / Insurance Broker or
policy document of the insurer.
-
The various funds offered under the unit linked contracts are the names of the funds
and do not in any way indicate the quality of these plans, their future prospects
and returns.
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41. GENERAL
The Client shall not assign these terms and conditions to anybody else. HDFC SL
may sub-contract and employ agents to carry out any of its obligations under this
contract.
These terms and conditions contain HDFC SL’s entire agreement (except as otherwise
expressly provided herein) and supersede and replace any previously made proposals,
representations, understandings and agreements, express or implied, either oral
or in writing between the Client and HDFC SL for Online Services. The Client acknowledges
that it has not relied on any representation made by HDFC SL or any of its employees
or agents and has made its own independent assessment of ‘MY ACCOUNT’. No third
party will have any rights or claims under these terms and conditions.
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42. APPLICABILITY
OF TERMS
These Terms form the contract between the Client using the Online Service and HDFC
SL. By applying for ‘MY ACCOUNT’ and accessing the service the Client acknowledges
and accepts these Terms. These terms will be in addition to and not in derogation
of the terms and conditions relating to any account of the Client.
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