I am not clear about this, so i thought about asking you guys, is it MUST to have a privacy policy and desclaimer page on a website? if I dont have them, is it against Google TOS??
Yes. You need to have a privacy policy. I don't know about disclaimer. But a privacy policy for sure. And on each page of your website, there needs to be a link to this policy... (I recommend doing this in a widget - template)
Yes, it is important to have Privacy Policy on your site but disclaimer is not an Adsense requirement.