Terms & Conditions

Definitions

In these Terms and Conditions, the following words shall have the meanings assigned to them unless the context requires otherwise: "Company" refers to our organization providing financial and insurance-related services; "User" or "You" refers to any individual or entity accessing or using this website; "Services" include all financial advisory, insurance assistance, loan facilitation, and related offerings available through this platform; "Website" refers to this online portal and all its pages; and "Content" includes all text, graphics, logos, and information published on this site. These definitions apply throughout the Terms and are intended to ensure clarity, consistency, and proper interpretation of all provisions stated herein.

Acceptance of Terms

By accessing, browsing, or using the Plank-Wise Platform in any manner, you unconditionally accept and agree to be legally bound by these Terms and Conditions, our Privacy Policy, and all applicable laws and regulations in India. If you do not agree with any part of these terms, you are advised to discontinue use of the platform immediately.

Your continued use of the platform signifies your acknowledgment that you have read, understood, and agreed to comply with all terms, including any updates or modifications made from time to time. Plank-Wise reserves the right to revise these Terms and Conditions at its sole discretion without prior notice, and it is your responsibility to review them periodically.

You further agree to use the platform only for lawful purposes and in a manner that does not infringe the rights of, restrict, or inhibit the use and enjoyment of this platform by any third party. Any misuse, unauthorized access, or violation of these terms may result in termination of your access and legal action as per applicable laws.

These Terms constitute a legally binding agreement between you and Plank-Wise. They apply to all users, including visitors, registered customers, corporate clients, and any third party accessing the Platform on behalf of an entity.

• Minors: The Platform is not intended for persons under 18 years of age. By using the Platform, you represent that you are at least 18 years old.
• Corporate users: If you access the Platform on behalf of a company, you represent that you have full authority to bind that entity to these Terms.
• Electronic acceptance: Clicking "I Agree", checking consent boxes, or completing an application form constitutes valid electronic consent under the Information Technology Act, 2000.

Our Services

Plank-Wise operates as a licensed insurance broker (IRDAI) and financial services intermediary. We facilitate access to a range of financial products but do not ourselves underwrite insurance risks or directly lend money.

Eligibility Criteria

To use Plank-Wise's Services, you must meet the following eligibility criteria at all times during your use of the Platform:

1. You must be a resident Indian citizen or a Person of Indian Origin (PIO) / Non-Resident Indian (NRI) as defined under FEMA, 1999.
2. You must be at least 18 years of age. Certain insurance products may have higher minimum age requirements as specified by the respective insurer.
3. You must possess a valid and active mobile number registered in India, and a valid email address.
4. You must complete KYC verification as required under applicable IRDAI, RBI, and SEBI regulations before transacting on the Platform.
5. You must not be a person or entity declared insolvent, bankrupt, or subject to any court order that restricts your financial activities.
6. You must not be listed on any financial regulatory blacklist, sanctions list, or be associated with money laundering or terrorist financing activities.
7. For corporate accounts, the entity must be duly incorporated and in good standing under applicable Indian law.

Plank-Wise reserves the right to refuse service or terminate accounts that do not satisfy eligibility criteria, without prior notice and without liability.

User Obligations

As a user of the Platform, you agree to the following obligations:

• Accurate information: You shall provide only true, accurate, current, and complete information during registration, KYC, and all transactions. Misrepresentation in insurance applications may render policies void.
• Account security: You are solely responsible for maintaining the confidentiality of your login credentials. You must notify Plank-Wise immediately at security@plankwise.world of any suspected unauthorised access.
• Lawful use: You shall use the Platform only for lawful purposes and in accordance with these Terms. You shall not use the Platform to commit fraud, misrepresent identity, or engage in any activity that violates Indian law.
• No interference: You shall not attempt to hack, scrape, reverse-engineer, or disrupt the Platform, its servers, or networks connected to it.
• Disclosure of material facts: In the context of insurance, you have a duty of utmost good faith (uberrima fides) to disclose all material facts that may affect underwriting decisions.
• Timely premium payment: For active policies, you are responsible for ensuring premium payments are made on time. Plank-Wise is not liable for policy lapses due to payment failures.
• Content standards: Any content or communications you submit on the Platform must not be defamatory, obscene, threatening, or infringe third-party rights.

Insurance Products

Plank-Wise acts as a registered insurance broker and distributes products from multiple IRDAI-licensed insurers. The following terms govern all insurance-related transactions:

• Policy document governs: The final insurance contract is governed exclusively by the policy wordings, schedule, and endorsements issued by the insurer. In case of any conflict between Platform content and the policy document, the policy document shall prevail.
• Free look period: Most policies offer a free-look period (typically 15–30 days from receipt). You may cancel during this period for a refund, subject to the insurer's cancellation terms.
• Premium accuracy: Premiums displayed on the Platform are indicative only. Final premiums are determined by the insurer based on your disclosed information and may differ from initial quotes.
• Claim settlement: Claims are settled directly by the respective insurer per their internal processes. Plank-Wise assists with claims navigation but does not guarantee claim approval or settlement timelines.
• Renewal reminders: Plank-Wise may send renewal reminders as a courtesy. Failure to receive reminders does not relieve you of the obligation to renew your policy before expiry.

Loan Services

Plank-Wise facilitates loan products from RBI-regulated lenders. We act as a referral and documentation assistance intermediary and are not a lender ourselves. The following terms apply to all loan-related services:

1. Loan eligibility, interest rates, tenure, and approval decisions are made solely by the respective lender based on their credit assessment criteria. Plank-Wise does not guarantee loan approval.
2. Interest rates and fees displayed on the Platform are indicative. Actual rates are determined by the lender at the time of sanction based on your credit profile, income, and other factors.
3. By submitting a loan application through Plank-Wise, you authorise Plank-Wise and its lending partners to access your credit bureau records (CIBIL, Experian, CRIF, Equifax) for assessment purposes.
4. All EMI calculations provided by the Platform's EMI Calculator are for illustrative purposes only and may differ from final loan terms offered by lenders.
5. Timely repayment of loans is your sole responsibility. Plank-Wise bears no liability for defaults, penalties, or credit score impacts arising from non-payment.
6. Any processing fees, prepayment charges, or other loan-related fees are determined by and payable to the respective lender, not Plank-Wise.

Fees & Charges

Plank-Wise's fee structure is transparent and disclosed before any transaction. The following fee types may be applicable:

All fees are inclusive of applicable GST unless otherwise stated. Fee structures are subject to change with 30 days' prior notice to registered users.

Data & Privacy

Your privacy is paramount to us. The collection, storage, and use of your personal data is governed by our Privacy Policy, which forms an integral part of these Terms.

• Data collected: We collect identity information (name, PAN, Aadhaar), contact details, financial information, health data (for health insurance), and device/usage data for service delivery and regulatory compliance.
• Data sharing: Your data may be shared with insurers, lenders, KYC agencies, payment processors, and regulatory authorities as required for service delivery and compliance. We do not sell your data to third-party marketers.
• Data retention: We retain your data for the period required by applicable law, typically 8 years from the last transaction, in accordance with IRDAI and RBI retention guidelines.
• Your rights: You have the right to access, correct, and (subject to legal requirements) request deletion of your personal data. Contact privacy@plankwise.world to exercise these rights.
• Cookies: We use cookies and similar tracking technologies to enhance your experience. You may manage cookie preferences via your browser settings.
• Security: We implement industry-standard encryption (TLS 1.3), multi-factor authentication, and regular security audits to protect your data. However, no digital system is 100% secure.

Intellectual Property

All content on the Plank-Wise Platform, including but not limited to text, graphics, logos, icons, images, audio clips, data compilations, software, and the overall design, is the property of Plank-Wise Financial Services Pvt. Ltd. or its content suppliers and is protected by applicable Indian and international intellectual property laws.

• You are granted a limited, non-exclusive, non-transferable, revocable licence to access and use the Platform for personal, non-commercial purposes only.
• You may not reproduce, duplicate, copy, sell, resell, or exploit any portion of the Platform without express written permission from Plank-Wise.
• The Plank-Wise name, logo, and all related brand marks are registered or unregistered trademarks of Plank-Wise. Unauthorised use is strictly prohibited.
• Any feedback, suggestions, or ideas you provide to Plank-Wise may be used by us without restriction or compensation to you.

Limitation of Liability

To the maximum extent permitted by applicable law, Plank-Wise's liability is limited as follows:

• Indirect damages: Plank-Wise shall not be liable for any indirect, incidental, special, consequential, or punitive damages, including loss of profits, data, or goodwill.
• Third-party products: Plank-Wise is not liable for the acts or omissions of insurers, lenders, or other third parties whose products are facilitated through the Platform.
• Market information: Financial market data, indices, and rates displayed on the Platform are for informational purposes only. Plank-Wise is not liable for decisions made based on this data.
• Technical failures: Plank-Wise is not liable for Platform downtime, data loss, or service interruptions caused by technical failures, third-party services, or force majeure events.
• Investment returns: Past performance information on investment products does not guarantee future returns. All investments carry market risk.

Termination

Either party may terminate the user relationship, subject to the following conditions:

• By you: You may close your Plank-Wise account at any time by contacting us at support@plankwise.world. Active policies and loans facilitated through Plank-Wise will continue with the respective insurer or lender.
• By Plank-Wise: We reserve the right to suspend or permanently terminate your account immediately, without notice, if you breach these Terms, provide false information, engage in fraudulent activity, or for any other reason at our discretion.
• Effect of termination: Upon termination, your right to use the Platform ceases immediately. Sections relating to data retention, intellectual property, liability limitation, and governing law survive termination.
• Pending transactions: Any transactions in progress at the time of termination will be handled in accordance with applicable law and the terms of the respective financial product.

Governing Law & Disputes

These Terms and Conditions shall be governed by and construed in accordance with the laws of the Republic of India, without regard to conflict of law principles.

• Jurisdiction: The courts of Pune, Maharashtra shall have exclusive jurisdiction over all disputes arising from or relating to these Terms, except where mandatory law requires otherwise.
• Arbitration: Any dispute, controversy, or claim arising out of or relating to these Terms that cannot be resolved through negotiation shall be referred to binding arbitration under the Arbitration and Conciliation Act, 1996, before a sole arbitrator mutually appointed by the parties. The seat of arbitration shall be Pune, and proceedings shall be conducted in English.
• Consumer disputes: Notwithstanding the above, consumers have the right to approach consumer courts under the Consumer Protection Act, 2019.
• IRDAI disputes: Insurance-related disputes may be escalated to the Insurance Ombudsman under the Ombudsman Rules, 2017.

Grievance Redressal

Plank-Wise is committed to resolving user grievances promptly and fairly. We have a structured three-tier grievance redressal mechanism:

All grievances must be submitted in writing with full details of the issue, supporting documents, and your registered contact information. Plank-Wise will acknowledge receipt within 24 hours.

Amendments

Plank-Wise reserves the right to modify these Terms and Conditions at any time. Changes will be effective upon posting to the Platform. We will notify registered users of material changes via email and/or in-app notification at least 30 days prior to the effective date, where reasonably practicable.

• Your continued use of the Platform after the effective date of any changes constitutes your acceptance of the revised Terms.
• If you do not agree to the revised Terms, you must stop using the Platform and may close your account before the changes take effect.
• The version history of these Terms is maintained and available upon written request to legal@plankwise.world.
• No waiver of any provision of these Terms shall be effective unless in writing and signed by an authorised representative of Plank-Wise.