Who you are actually dealing with

Who holds the licence?

A person, not a company. Insurance agency licences in India are held by individuals, and this one is held by Dr. Sonali Walia personally. Prakash Finserv is the name the practice trades under — a sole proprietorship, which in law is not separate from the person running it.

That is worth stating plainly because it cuts both ways, and the honest version includes both halves. There is no company standing between you and the person advising you, so accountability is unusually clear. There is also no large institution behind the practice — the insurer carries the policy, but the service you get here is one person's work and reputation.

The full regulatory disclosures, and how to verify them independently →

How are we paid?

By commission from the insurer whose products we place, at rates set within limits the regulator lays down. You do not pay us a fee, and there is no arrangement in which you pay us more for choosing one thing over another.

You are entitled to ask about the basis of that remuneration, and asking is not rude. Anyone who becomes uncomfortable when asked how they are paid has told you something useful.

The honest caveat: commission is paid by the insurer, which means the practice earns when a policy is placed and does not earn when one is not. That is true of every insurance agent, everywhere. It is why this site is built to explain rather than to push, why no figure is quoted anywhere on it, and why the catch is printed next to every product category rather than left for you to discover later.

One insurer, and why that is stated up front

The agency is held with a single life insurer, named in the footer of every page on this site. An individual life agent in India may hold an appointment with one life insurer, so this is the ordinary position rather than an unusual one.

What it means for you is simple, and you should weigh it: this practice can explain how the categories differ and help you decide between them, but it cannot tell you whether another insurer would offer you better terms, because it does not sell them. If comparing across insurers matters to you, an insurance broker is the type of intermediary that does that, and saying so costs us nothing.

What we do, and what we do not

The second column is the one worth reading twice. Every item in it is a real limit on what this practice is allowed or able to do, and knowing them tells you when to ask someone else instead.

Why there are no premiums anywhere on this site

Because a premium is not ours to state. It is set by the insurer at underwriting, once it has seen your age, your health, your occupation and your disclosures. Any number published before that point can be contradicted afterwards, and it is you who would carry the disappointment.

There is a harder-edged reason too. An insurer may question a policy for misstatement within the first three years, so a figure shown to you early and contradicted later is not merely awkward — it is the beginning of a contested claim. A site that will not quote you a number is a site that has decided not to start that.

Where information ends and advice begins →

What happens next

If you want to understand the process before starting it — what an underwriter looks at, how long it takes, and what happens to what you tell us — that is set out step by step.

How we work Contact