Insurance Marketing Firm (IMF) Status
Distroo IMF Pvt. Ltd. is incorporated under the Companies Act, 2013 and is in the process of registration with the Insurance Regulatory and Development Authority of India (IRDAI) as an Insurance Marketing Firm under the IRDAI (Insurance Marketing Firm) Regulations, 2015.
An Insurance Marketing Firm is an authorized distribution intermediary licensed to solicit, procure, and service insurance products from tied insurance companies (within prescribed regulatory limits across life, general, and health insurers), while engaging accredited Insurance Sales Persons (ISPs) to interface with customers.
Clear Declarations: What Distroo Is NOT
To prevent any public misunderstanding, please note the following clear boundaries:
- Distroo is NOT an Insurance Company: We do not issue insurance policies, underwrite risk, hold reserves, or assume contractual liability for claims. Contracts of insurance are strictly between the policyholder and the underwriting insurer.
- Distroo is NOT an Insurance Broker: We operate strictly as an IMF. We do not represent policyholders on a whole-of-market broking basis.
- Distroo is NOT a Comparison Website / Web Aggregator: We do not operate an algorithmic aggregator platform ranking insurance products based on automated price bids. All recommendations are human-driven, delivered by certified Advisors evaluating holistic coverage suitability.
- Distroo is NOT an Investment Adviser: We are not registered as an investment adviser with the Securities and Exchange Board of India (SEBI). Financial content published on this website is educational and must not be construed as investment, legal, or tax advice.
Product Terms, Conditions & Premium Calculations
All insurance products, plan features, coverage benefits, riders, waiting periods, room-rent limits, copayments, exclusions, and premiums displayed on our portal or communicated by Advisors are governed entirely by the policy contract filed by the respective insurer with IRDAI.
Distroo makes no representation or warranty regarding "lowest premium" or "cheapest pricing". Premiums are computed solely by the underwriting insurer based on age, medical history, location, sum insured, occupational risk, and prevailing statutory GST.
Claims Settlement & Advocacy Boundaries
Distroo maintains a dedicated Claims & Renewals Desk to assist clients with documentation, cashless hospital coordination, surveyor liaison, and escalation advocacy.
Section 41 of the Insurance Act, 1938 (Prohibition of Rebates)
The following statutory provision is reproduced verbatim for public awareness:
Section 41(1): "No person shall allow or offer to allow, either directly or indirectly, as an inducement to any person to take out or renew or continue an insurance in respect of any kind of risk relating to lives or property in India, any rebate of the whole or part of the commission payable or any rebate of the premium shown on the policy, nor shall any person taking out or renewing or continuing a policy accept any rebate, except such rebate as may be allowed in accordance with the published prospectuses or tables of the insurer."
Section 41(2): "Any person making default in complying with the provisions of this section shall be liable for a penalty which may extend to ten lakh rupees (₹10,00,000)."
Section 45 of the Insurance Act, 1938 (Policy Questioning)
Under Section 45 of the Insurance Act, 1938 (as amended by the Insurance Laws (Amendment) Act, 2015), no policy of life insurance shall be called in question on any ground whatsoever after the expiry of three (3) years from the date of the policy (or date of revival, whichever is later).
Within the initial three-year period, an insurer may question or repudiate a policy on grounds of misstatement, fraud, or non-disclosure of material facts. It is vital that all applicants disclose complete and accurate medical and personal facts during the application stage.
Tax Treatment Disclaimer
Tax benefits under Sections 80C, 80D, and 10(10D) of the Income Tax Act, 1961 are subject to prevailing tax laws and amendments announced by the Government of India. The tax status of insurance policies depends on the specific circumstances of each policyholder. Please consult a qualified tax advisor or Chartered Accountant before purchasing any financial product based on tax considerations.
Pre-Launch & Regulatory Approval Notice
Distroo is currently completing regulatory licensing and operational integration milestones. Final registration details, insurer partner tie-up listings, and statutory license credentials will be published upon formal regulatory sanction prior to commercial launch.