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Terms & Conditions

Insurance Terms & Conditions

COVID-19 Insurance T&C

This document is published in compliance of and shall be governed by Indian law, including but not limited to :

  1. The Indian Contract Act, 1872;

  2. The Information Technology Act, 2000, the rules, regulations, guidelines and clarifications framed thereunder including the Information Technology (Reasonable Security Practices And Procedures And Sensitive Personal Information) Rules, 2011, and the provisions of rule 3 (1) of the Information Technology (Intermediaries Guidelines) Rules, 2011;

  3. The Payment And Settlement Systems Act, 2007 and applicable rules, regulations and guidelines made thereunder; and

  4. Reserve Bank of India Act, 1934 and the applicable rules, regulations and guidelines made thereunder.

This document is an electronic record in the form of an electronic contract formed under Information Technology Act, 2000 and rules made thereunder and the amended provisions pertaining to electronic documents / records in various statutes as amended by the Information Technology Act, 2000. This agreement does not require any physical, electronic or digital signature.

This agreement is a legally binding document between you and Balancehero India Private Limited (both terms defined below). The terms of this document will be effective upon your acceptance of the same (in electronic form or by means of an electronic record or other means) and will govern the relationship between you and Truebalance for the use of Truebalance services.

1. For the purpose of these Terms of Use, wherever the context so requires-

a. “You/Your”, “Customer” or "User" shall mean any natural or legal person who has registered with Truebalance and who has accepted these Terms of Use.

b. "We", "Us", "Our", “Truebalance” shall mean Balancehero India Private Limited.

c. "Insurer" shall mean the respective Insurance company issuing Insurance.

2. These terms and conditions ("T&C") and all applicable T&C issued by Insurance Company govern your rights and obligations as a Customer for the Insurance Policy purchased from respective Insurance Company via Truebalance mobile application. You agree and acknowledge that the Insurance purchased through Truebalance application are issued by respective Insurance Company and Truebalance is not the issuer of these Policies.


3. Your access to and use of the Truebalance mobile application and the Truebalance services are conditional upon your acceptance of and continuous compliance with these T&C at all times.


4. The access to the Truebalance mobile application is only available to persons who are competent to enter into legally binding contracts under the Indian Contract Act, 1872. Any person who shall be considered as incompetent to contract as per the provisions of the Indian Contract Act, 1872, including minors, un-discharged insolvents, etc., are not eligible to use the Truebalance mobile application.


5. You agree that the personal information such as name, address, contact number etc. ("Personal Information") you provide to Truebalance upon registration and at the time of purchasing insurance policy and at all other times will be true, accurate, current and complete. You agree to maintain and update the Personal Information and to keep the Personal Information true, accurate and complete.


6. Customer hereby agree and acknowledge that his/her Personal Information will be shared with respective Insurance Company while purchasing insurance product from such Insurance Company via Truebalance application.


7. Policy purchased via Truebalance application is valid for Indian citizens only.


8. Customer should be between the age of 18-65 years at the time of buying the policy. Policy shall be issued in the name of the individual as provided by the User.


9. Policy certificate shall be sent by the respective Insurance Company on his/her email address within 24 hours of the transaction and it can also be downloaded from the order history of TrueBalance.


10. The policy is offered for the sum insured as specified in the Policy certificate.


11. All the terms and conditions mentioned in the policy certificate shall be applicable.


12. Customer can buy a policy only once under the same name. However, he/she can buy the same policy for different people or different policy through TrueBalance.


13. Customer can use multiple payment modes for purchasing insurance policy through TrueBalance.


14. In case the customer wishes to cancel the policy, he/she can directly get in touch with the ICICI 24/7 customer care at 1800 2666 and raise a request. For policies eligible for endorsement after QC check, customer support (Back End) team would initiate the endorsement process and share the same with customer. For cancellations initiated through TB, the customer shall be redirected to ICICI toll free number.


15. After cancellation of the policy, the amount will be refunded within 15 days from the date of policy cancellation. For the refund applicable, the conditions apply as per the policy rules mentioned below.


16. The insurance policy is a contract between Insurance Company and the Customer. For any issues related to Insurance Policy including claims and cancellations, please reach out to the respective Insurance Company.



COVID-19 protection cover


Coverage: If an Insured Person is First Diagnosed with Covid-19 during the Period of Cover, then We will pay the Sum Insured as specified in the Policy Certificate against this Benefit as a lump sum amount. On payment of a claim under this benefit, the cover shall terminate and no subsequent renewals would be allowed.


Conditions for claim eligibility:

  1. The diagnosis must be confirmed by only those specific test(s) as defined by government authorities

  2. The test for Novel Corona virus should be conducted in National institute of virology, Pune or any other Government designated laboratory in India, appointed for testing of COVID-19

  3. The lab diagnosis must have been performed after the initial waiting period of 14 days.




  1. The Insured Event occurring prior to the Risk Inception Date or arising within the first 14 days of commencement of the Period of Cover

  2. Any travel history post Dec 31, 2019, to any affected area overseas

  3. Any history of quarantine or diagnosis with COVID-19 prior to the risk inception or within the waiting period of 14 days

  4. The cost of transportation through the ambulance.

  5. Facilitation or cost of arranging Air ambulance services

  6. Cost of the over the counter medicines/any other specialist consultation/treatment prescribed during the tele consultation, will not be borne by the company.


Claim documents: In the event of a claim, we must be intimated immediately but no later than 30 days from date of event. We must receive below mentioned mandatory documents for claim processing

  1. Duly filled claim form by the Insured Person/claimant.

  2. Lab report with sign and stamp, confirming positive for COVID-19
    The insured must have been tested positive for COVID-19 in National institute of virology, Pune or any other Government authorised laboratory in India.

  3. Certificate from Government medical officer confirming diagnosis or from any medical practitioner authorised by government to issue such certificates.

  4. Cancelled cheque and NEFT mandate form - duly filled in by the Insured Person/claimant

Declaration for on-boarding:

  1. I declare that I have't travelled internationally/ overseas to any of the COVID-19 affected countries/ regions after Dec 31st, 2019.

  2. I declare that I have not experienced any signs and symptoms related to respiratory conditions including flu like symptoms prior to policy start date

  3. I declare that I have not been advised isolation/ quarantine for suspected COVID-19 nor have I been diagnosed with COVID-19 prior to policy start date

  4. I declare that I am not on any treatment or medication for any pre-existing diseases

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