Privacy & Terms

Terms of Use

When using the Mutual.Life platform, you are agreeing
to the Terms of Use. Read them carefully.

Validity start date: September 10, 2017
Date of last update: September 10, 2017

About Mutual.Life

Mutual.Life is an insurtech startup still under trial but already in real operation. However, at that time, we only have closed groups functioning, and participation depends on analysis and approval. We believe in co-creation and therefore strive to work from the ground up with real users to develop all the tools based on their experience and feedback. Therefore, we inform you:

  1. Mutual.Life is not an insurer and does not market insurance policies.
  2. The type of protection that the Mutual.Life technological platform offers is shared self-protection.
  3. Through our technology, our users can join and form mutual aid groups to protect each other from common risks pre-agreed upon by group members.
  4. Not being insurance, Mutual.Life does not receive any premiums or pay damages.
  5. As an administrative fee, Mutual.Life only charges a fixed percentage of 15% on the amounts provisioned in the platform, eliminating any type of interest in the approval, or not, of indemnities.
  6. Mutual.Life does not interfere with the working dynamics of groups, which are sovereign in their decisions, whether for approval of new members or for payments of financial aid to their participants.
  7. In spite of Mutual.Life eventually providing users with historical information, profiling and risk score analysis, fraud detection, or any other analytical activity, all its efforts are merely informative, aiming to provide the group with information to assist them in decision making.
  8. It is up to the members of each group to decide whether or not to approve any of their demands, regardless of the information provided by the platform.
  9. The decision of a group always prevails over the individual choices of the participants and, if they do not agree with a choice the group has made, they may choose to leave it after participating in the apportions approved until the moment of the request for exit.
  10. Upon exiting the group, its members can take with them the resources contributed and not committed in apportionments, minus the administrative fees.

By participating in a Mutual.Life group, you agree to the following terms:

  1. That the reimbursement of the amounts paid as adhesion and/or reparation fees, when requested, will occur by deducting any fees and indemnities that may have been incurred in the group before the request for reimbursement.
  2. That exiting the group, when requested, will only happen after the processing of any requests for indemnification in progress before the request to exit.
  3. That the group is the one who defines the rules and coverage and is sovereign to decide on any situations directly related to the group itself.
  4. That all indemnity payments will be apportioned among the members of the group, and that Mutual.Life, as merely the platform's provider, does not pay damages.
  5. That whenever there is an indemnity payment, to continue in the group, each participant will need to recompose his provisioning by depositing the difference between his remaining balance after the payment of indemnity and its mandatory provisioning amount.
  6. That the indemnities approved by the group are only guaranteed up to the amount of the balance provisioned by the group.
  7. That each participant commits to participating in the apportionment of the payment of indemnities approved by the group only up to the limit of the mandatory provisioning already collected.
  8. That any apportionment of compensation payments, which exceed the provisioned amount, will be optional, and the participant may choose to participate in the payment of the apportionment and remain in the group, or not participate in the payment of the apportionment and leave the group.