TERMS AND CONDITIONS OF THE TFG CUSTOMER PROTECTION PLAN POLICY (“the/this Policy”)

 This is a credit life insurance Policy under the risk class of business underwritten by Guardrisk Life Limited (registration number 1999/013922/06 and FSP number 76), an authorised financial services provider and an insurer licensed to conduct life insurance business in terms of the Insurance Act 18 of 2017.This document sets out the terms and conditions of the insurance You have been required to take up to cover the Outstanding Balance or Your Instalments on Your TFG Money Account (dependent on which Benefit is successfully claimed and paid out – see clause 2 for details on the Benefits). This Policy provides cover for Your TFG Money Account against Death, Disability and Retrenchment if You meet all the conditions of this Policy.

This Policy is a legal document which must be read together with, and considering the following:

• The disclosure notice;
• The account application form;

 

 

• and
• Any changes to this Policy made in terms of clause 8 below.

 

There are two types of credit life insurance, mandatory credit life insurance and optional credit life insurance. This insurance is mandatory. This means that, when You open a TFG Money Account, You are required to take up this insurance, or substitute it with a credit life insurance product of Your choice with the same or similar benefits (see section 12 below for details).

 

You must read this Policy carefully so that You understand when the Insurer will approve a Claim.

 

DEFINITIONS

Please make sure You understand the meaning of these important words, used in this document:

 

Benefit                               means the amount or amounts payable on Your Death, Disability or Retrenchment as defined in this Policy, and ‘Benefits’ shall have a corresponding meaning as the context may require;

Claim                                  means, unless the context indicates otherwise, a demand for Benefits under this Policy by a Claimant, whether the Claimant’s demand is valid or not, made by handing in a completed and signed claim form with supporting documents to TFG, and ‘Claims’ shall have a corresponding meaning as the context may require;

Claimant                            means a person who makes a Claim in relation to this Policy;

Claim Event                       means Your Death, Disability or Retrenchment, which happens after the Starting Date and during the insurance period;

Claim Event Date              means the date on which the Claim Event occurs, giving rise to a Claim;

Credit Life Insurance                       means credit life insurance as defined in the National Credit Act;

Day                                     means a 24 (twenty-four) hour period, and ‘Days’ has a corresponding meaning as the context may require;

Death                                 means Your death by any cause, subject to the Exclusions and the terms and conditions of this Policy;

Diagnosed                          means the act of identifying a disease, illness or injury by a Doctor, conducted by examining You;

Disability                            means that You become so physically or mentally impaired, whether totally or partially, or temporarily or permanently, as a result of injury, disease or illness, that Your ability to earn an income or pay the Instalment on Your TFG Money Account is impaired, and includes, but is not limited to, Occupational Disability;

Doctor                                means a legally and duly qualified medical practitioner validly registered with the Health Professions Council of South Africa with a valid practice number;

Exclusion                            means a loss or event not covered by this Policy. If a Claim Event arises from an Exclusion, no Benefit will be payable, and ‘Exclusions’ shall have a correspondig meaning as the context may require;

Insolvency Act                   means the Insolvency Act 24 of 1936;

Instalment                         means the amount due on Your TFG Money Account each month which is payable by You, and it includes an amount equal to the Premium for this cover (when You have an Outstanding Balance), and ‘Instalments’ shall have a corresponding meaning as the context may require;

Insurer                               means the insurance company that underwrites this insurance, namely Guardrisk Life Limited (registration number 1999/013922/06 and FSP number 76), an authorised financial services provider and an insurer licensed to conduct life insurance business in terms of the Insurance Act 18 of 2017.  See the disclosure notice for details;

Labour Relations Act         means the Labour Relations Act 66 of 1995;

Magistrates’ Courts Act    means the Magistrates’ Courts Act 32 of 1944;

National Credit Act           means the National Credit Act 34 of 2005;

Occupational Disability    means a form of Disability where Your impaired ability to earn an income or pay the Instalment on Your TFG Money Account arises from (is caused by) a physical or mental impairment which renders You unable to continue Your employment, Your own occupation, profession or trade;

Outstanding Balance        means the total amount that You owe TFG on Your TFG Money Account from time to time or at the Claim Event Date, including the principle debt and, where applicable, interest and fees and costs;

Pensioner                          means a person who is not working and who receives a pension which is a payment at regular intervals, other than wages or salary, to provide income in consideration for past services;

Permanent Disability        means Disability that is continuous, total and permanent. Permanent Disability must be Diagnosed by a Doctor. You shall be deemed to have suffered Permanent Disability upon the total and permanent loss of, or loss of use of, both hands, both feet or both eyes;

Permanently Employed    means that You are employed for a position without a pre-determined time limit. Probation periods, self-employment and fixed term employment contracts will not be regarded as permanent employment for purposes of this Policy and ‘Permanent Employment’ shall have a corresponding meaning as the context may require;

Personal Information        means personal information as defined in the Protection of Personal Information Act 4 of 2013;

Pre-existing Condition      means any Disability that You were aware of, or that You have consulted a Doctor for, or that You have received medical treatment for in the twelve months preceding the Starting Date that results in a Claim Event;

Premium                            means the monthly amount that You must pay to the Insurer in return for the Benefits under this Policy.  which shall be collected by TFG as part of Your Instalment (see clause 5 for details);

Repudiate                          means, in relation to a Claim, any action by which the Insurer rejects or refuses to pay a Claim or any part of a Claim, for any reason, and includes instances where a Claimant lodges a Claim –

                                                          in respect of a loss event not covered by this Policy; and

                                  in respect of a loss event or risk covered by this Policy, but the Premium payable in respect of this Policy has not been paid;

                   and ‘Repudiated’ shall have a corresponding meaning;

Retrenched                        means that You become unemployed or suffer a loss of employment because of adverse business conditions, the introduction of new technology, Your employer implementing a staff reduction program or reorganisation of business as provided for in the Labour Relations Act, excluding voluntary retrenchment and forfeiture of salary or wages (see clauses 2.3 and 4 for a list of all the Exclusions which apply to Retrenchment under this Policy);

Retrenchment                   means when You become Retrenched;

Starting Date                     means the date when the cover under this Policy starts, which is the date when Your TFG Money Account first has an Outstanding Balance;

Temporary Disability        means Disability that has a duration which is not expected to continue permanently. Temporary Disability must be Diagnosed by a Doctor, and ‘Temporarily Disabled’ shall have a corresponding meaning as the context may require;

TFG Money Account          means the store card account that You have with TFG which is a revolving credit facility which TFG offers You;

Variation                            means any act that results in a change to –

1. the Premium,
2. any term,

                                                          iii. any condition,

1. any Policy Benefit,
2. any Exclusion, or
3. the duration of this Policy,

                                           and ‘Vary’ shall have a corresponding meaning as the context may require;

Waiting Period                  means a period during which the Insurer will not pay the Benefits in terms of this Policy for a Claim Event that arises within this period.

                                           There is no waiting period for the Death Benefit, the Retrenchment Benefit or the Disability Benefit for Permanent Disability or permanent Occupational Disability.

                                           There is a Waiting Period for the Disability Benefit for Temporary Disability and temporary Occupational Disability of 3 (three) months calculated from the Starting Date of this Policy.

If this Policy is suspended and reinstated (see clauses 1 and 12 for when this can happen), a waiting period equal to the unexpired portion of the Waiting Period will apply when this Policy reinstates.

We/Us/TFG                       means Foschini Retail Group (Pty) Ltd (registration number 1988/007302/07 and FSP number 32719). The stores in our group are called TFG Stores in this Policy. We  provide services as an intermediary between You and the Insurer. See the disclosure notice for details;

You/Your                           means the South African person who is older than 18 (eighteen) and who has a TFG Money Account.

1.          Insurance Period

Your TFG Money Account is only insured while You have valid insurance and when You have an Outstanding Balance. You have valid insurance if all the terms and conditions of this Policy are met (including but not limited to the Waiting Period when applicable) and if You have paid the monthly amount required by Us on Your TFG Money Account (see clauses 1.2 and 1.3).

This Policy will suspend (You will not have cover and You will not be billed for an amount equal to the Premium) when:

1.1 Your balance on Your TFG Money Account is zero, or when You have a credit (positive) balance;

1.2 You have not paid the monthly amount required by Us on Your TFG Money Account for 2 (two) consecutive months. You may contact TFG’s customer services on 0860 834 834 if You would like to know what this amount is. We will notify You in writing when You have not paid this amount);

1.3 There is any amount on Your TFG Money Account that is outstanding for 60 (sixty) Days or more. This means that, in order for You to have cover, the 60 (sixty) day indicator and the 90 (ninety) day indicator on the bottom of Your account statement each month must be zero as per this example:

TFG will notify You in writing when there is an amount outstanding for 60 (sixty) days or more.

1.4 You are under debt review as provided for in the National Credit Act;

1.5 You are under administration as provided for in the Magistrates’ Courts Act;

1.6 You become insolvent as provided for in the Insolvency Act;

1.7 The interest, costs and fees on Your TFG Money Account equal Your total balance at default, as per section 103(5) of the NCA. In such an event, You may contact Us on 0860 834 834 and We will advise You of the payment You need to make to ensure that the cover under this Policy is reinstated.

As soon as you have an Outstanding Balance, or as soon as any of the circumstances listed above at 1.1 to 1.7 come to an end, this Policy will reinstate automatically. See clause 9 for details on when this Policy will end.

This insurance cover will start on the Starting Date.

2.          Benefits – what the Insurer covers

 

• Death: on Your Death (when You die), the Insurer will settle (pay) the Outstanding Balance on Your TFG Money Account, determined on the Claim Event Date (the date of Your Death).

 

The Waiting Period does not apply to this Benefit.

 

• Disability:

Four types of Disability are covered by this Policy:

2.2.1 Permanent Disability: if You suffer a Permanent Disability (if You become disabled), the Insurer will settle (pay) the Outstanding Balance on Your TFG Money Account, determined on the Claim Event Date (the date Your Permanent Disability is first Diagnosed).

The Waiting Period does not apply to this Benefit.

The Benefit for Permanent Disability will only be payable once. Once it has been paid, the Benefits for Disability (including Permanent and Temporary Disability and permanent and temporary Occupational Disability) and Retrenchment will end, and You will only be covered by the Death Benefit. The Premium will reduce accordingly (see clause 5 for the premium payable for this Benefit).

2.2.2 Temporary Disability: if You suffer a Temporary Disability (if You become disabled), the Insurer will pay the Instalments due and payable on Your TFG Money Account determined on the Claim Event Date (the date Your Temporary Disability is first Diagnosed) for a period of 12 (twelve) months, or until You are no longer Temporarily Disabled, whichever is the shorter. TFG has a discretion as to how often the payments are made, or whether payment will be a lump sum. While payments are being made under this Benefit, if a Claim is approved, an amount equal to the Premium for the Disability Benefit for Temporary Disability will not be billed to Your TFG Money Account.

This Benefit is subject to the Waiting Period and the terms and conditions of this Policy.

 

2.2.3 Permanent Occupational Disability: if You suffer a Disability as a result of an Occupational Disability which is permanent, the Insurer will settle (pay) the Outstanding Balance on Your TFG Money Account, determined on the Claim Event Date (the date Your permanent Occupational Disability is first Diagnosed).

 

 If You become Permanently Employed after You have successfully claimed for Permanent Occupational Disability, the Disability Benefit for Permanent Occupational Disability will start automatically as soon as You become Permanently Employed (and You will have to pay an amount equal to the Premium for the Disability Benefit for Permanent Occupational Disability - see clause 5 for the Premium payable for this Benefit). In other words, once the Disability Benefit for Permanent Occupational Disability has been paid the Disability Benefit for Permanent Occupational Disability will suspend and You will no longer be covered or have pay an amount equal to the Premium for the Disability Benefit for Permanent Occupational Disability until You are Permanently Employed again and have informed TFG of your re-employment. In such an instance, You will then pay an amount equal to the Premium for the Disability Benefit for Permanent Occupational Disability so that this Benefit can be reinstated and You can be covered. There is no limit to the number of Claims that will be considered against the Disability Benefit for Permanent Occupational Disability while the Policy is in force.

The Waiting Period does not apply to this Benefit.

 

2.2.4 Temporary Occupational Disability: if You suffer a Disability as a result of an Occupational Disability which is temporary, the Insurer will pay the Instalments on Your TFG Money Account determined on the Claim Event Date (the date Your Temporary Occupational Disability is first Diagnosed) for a period of 12 (twelve) months, or until You no longer suffer from the Occupational Disability, or until You are Permanently Employed, whichever is the shorter. TFG has a discretion as to how often the payments are made, or whether payment will be a lump sum. While payments are being made under this Benefit, if a Claim is approved, an amount equal to the Premium for the Disability Benefit for Temporary Disability will not be billed to Your TFG Money Account.

You can only be covered by the Disability Benefit for Occupational Disability (temporary and permanent) if You are Permanently Employed (see the Exclusions at clause 4 below). It is Your responsibility to tell Us if You are Permanently Employed on the Starting Date or if You become Permanently Employed following a Claim for Permanent Occupational Disability or if You become Permanently Employed following the Starting Date, and it is Your responsibility to tell Us if Your employment status changes, for example, if You are no longer Permanently Employed for any reason, which may include but not be limited to Your resignation or Retrenchment. If You are not Permanently Employed (and You have disclosed this to Us), You will not have to pay an amount equal to the Premium for the Disability Benefit for Occupational Disability.

 

If You are not Permanently Employed at the Starting Date, or if You suffer an Occupational Disability while this Policy is effective, the Disability Benefit for Occupational Disability will start again automatically as soon as You become Permanently Employed (and You will have to pay an amount equal to the Premium for the Disability benefit for Occupational Disability - see clause 5 for the Premium payable for this Benefit), provided You have told Us that You are Permanently Employed and provided Us with proof of Your Permanent Employment.

 

You will not be covered by the Disability Benefit (and You will not have to pay an amount equal to the Premium for the Disability Benefit - see clause 5 for the premium payable for this Benefit) if You are a Pensioner or recipient of a state grant.

 

 This Benefit is subject to the Waiting Period and the terms and conditions of this Policy.

 

• Retrenchment: if You become Retrenched (on Your Retrenchment), the Insurer will settle (pay) the Outstanding Balance on Your TFG Money Account, determined on the Claim Event Date (the date that You are Retrenched).

 

You can only be covered by the Retrenchment Benefit if You are Permanently Employed (see the Exclusions at clause 4 below). It is Your responsibility to tell Us if You are Permanently Employed on the Starting Date or if You become Permanently Employed following Your Retrenchment or if You become Permanently Employed following the Starting Date, and it is Your responsibility to tell Us if Your employment status changes, for example, if You are no longer Permanently Employed for any reason, which may include but not be limited to Your resignation or Retrenchment. If You are not Permanently Employed (and You have disclosed this to Us), You will not have to pay an amount equal to the Premium for the Retrenchment Benefit.

 

If You are not Permanently Employed at the Starting Date the Retrenchment Benefit will start automatically as soon as You become Permanently Employed (and You will have to pay an amount equal to the Premium for the Retrenchment Benefit - see clause 5 for the Premium payable for this Benefit). If You become Permanently Employed after You have been Retrenched, the Retrenchment Benefit will start automatically as soon as You become Permanently Employed (and You will have to pay an amount equal to the Premium for the Retrenchment Benefit - see clause 5 for the Premium payable for this Benefit). In other words, once the Retrenchment Benefit has been paid the Benefit for Retrenchment will suspend and You will no longer be covered or have pay an amount equal to the Premium for the Retrenchment Benefit until You are Permanently Employed again and have informed TFG of your re-employment. In such an instance, You will then pay an amount equal to the Premium for the Retrenchment Benefit so that this Benefit can be reinstated and You can be covered. There is no limit to the number of Claims that will be considered against the Benefit for Retrenchment while the Policy is in force.

 

You will not be covered by the Retrenchment Benefit (and You will not have to pay an amount equal to the Premium for the Retrenchment Benefit - see clause 5 for the Premium payable for this Benefit) if You are a Pensioner or recipient of a state grant.

 

The Waiting Period does not apply to this Benefit.

 

2.4      The amounts payable under all the Benefits will be paid directly to TFG, and not to any other person/entity.  

3.      Specific Exlusions (what is not covered) applicable to the Death benefit and the Disability benefit

         The Insurer will not cover Death or Disability which is caused by You:

 

3.1   Abusing alcohol, drugs or narcotics;

3.2   Actively participating in war, invasion, acts of foreign enemies, hostilities, warlike operations (whether war be declared or not), civil war, insurrection, rebellion revolution, civil commotion or uprisings, military power;

3.3   Using nuclear, biological or chemical weapons, or any radioactive contamination;

3.4   Your participation in the commission of a criminal activity resulting in a Claim Event;

3.5   Participating in hazardous activities such as mountain climbing, bungee jumping and speed racing; or

3.6   Being affected by any Pre-existing Condition which You were aware of in the 12 (twelve) months preceding (before) the Starting Date;

3.7   Committing suicide (whether sane or insane) or attempting to commit suicide.

4.      Specific Exclusions (what is not covered) applicable to the Retrenchment benefit and the Disability benefit for Occupational Disability

 

The Insurer will not cover Retrenchment or Occupational Disability when:

4.1   You are lawfully dismissed, which includes dismissal because of failing to act or wilful misconduct when there is a violation of some established, definite rule of conduct, a forbidden act, wilful dereliction of duty or misconduct;

4.2   You agree (volunteer for) forfeiture of salary, wages or other employment income;

4.3   You accept voluntary Retrenchment or termination of employment;

4.4   You resign;

4.5   You retire;

4.6   You participate in an unprotected strike;

4.7   You were aware or received notice of Retrenchment in the 3 (three) months immediately preceding (before) the Starting Date; or

4.8   You become Retrenched within 3 (three) months immediately following the Starting Date.

5. Premium

5.1   The Premium is calculated on every R100 (or any part thereof) which is outstanding on Your TFG Money Account (of Your Outstanding Balance). The Premium is payable monthly in arrears and will change every month, depending on Your Outstanding Balance. The Premium is the cost of the credit insurance which You are liable for in terms of this Policy, and is as per the table below:

BENEFIT	MONTHLY PREMIUM
Death Benefit	R0.188 per R100 of Outstanding Balance
Disability Benefit	R0.039 per R100 of Outstanding Balance
Disability Benefit for Occupational Disability and Retrenchment Benefit	R0.223 per R100 of Outstanding Balance

 

5.2   We will pay the Premium to the Insurer on Your behalf each month. We will recover the Premium which We pay to the Insurer each month from You by debiting an amount equal to the Premium paid on Your behalf from Your TFG Money Account every month. This debit will show on Your TFG Money Account statement each month and will be included in Your monthly Instalment. While this Policy is suspended, Your Instalment will not include an amount equal to the Premium and You will not have cover.

5.3   The Premium may be increased at any time during a calendar Year, but We will give You 31 (thirty one) Days’ notice of any increase, the reason for the increase and if the increase will also result in an increase to the Benefits. The increased amount will be recovered from You in the same manner as per clause 5.2 above as from the effective date of the increase.

        The following factors will be considered before a Premium increase is decided:

        5.3.1 past and future expected economic factors (for example, but not limited to, interest rates, tax and inflation);

                             5.3.2 past and future expected lapse experience;

                             5.3.3 past and future expected mortality experience;

                             5.3.4 expected future reinsurance;

                             5.3.5 past and future claims experience;

                             5.3.6 any regulatory and legislative changes impacting this Policy; and

                            5.3.7 any other factor impacting the Premium that the Insurer deems material at the time.

        The increased amount will be debited to Your TFG Money Account from the effective date of the increase.

5.4   The terms and conditions for a TFG Money Account will apply together with the terms and conditions of this Policy as set out in this document. The billing of the amount equal to the Premium will attract interest when Your TFG Money Account payment plan attracts interest, at the same rate as the rate applicable to the TFG Money Account payment plan, and We will keep that interest.

5.5   The amount equal to the Premium will not be debited from Your TFG Money Account (and We will not pay any Premium to the Insurer) if Your TFG Money Account has a zero or positive (credit) balance, as there will be no Outstanding Balance to cover.

6. How to claim

For the Death Benefit

If We are notified of Your Death, or become aware of Your Death, We will verify Your Death with the Department of Home Affairs and We will process a Claim and pay the Benefit to TFG who will use the benefit to settle Your Outstanding Balance.

 

All Claims must be submitted to Us within 90 (ninety) Days of the Claim Event Date. If You do not report the Claim to Us within 90 (ninety) Days, the Insurer will no longer be liable to pay the Claim, unless there are extenuating circumstances for the late notification or the Claim is the subject of a pending court case between You, the Claimant and the Insurer, or subject to arbitration.

 

A claim form can be requested from a TFG Store, or You can contact the Insurance Claims Department and request that a claim form be sent to You (the contact details are further down in this clause). You can also download a claim form on our website at www.mytfginsure.co.za.

 

You can notify Us of a Claim by clicking on the claims notification tab on Our website at www.tfginsurance.co.za, but You will still be required to complete, sign and submit a claim form as indicated below.

 

To make a Claim, You must go to Your closest TFG Store and hand in a fully completed and signed claim form with the documents listed below. You can also email the completed and signed claim form to the Insurance Claims Department at claimsadmin@tfg.co.za.

You will have to provide proof of Your Disability or Retrenchment. The following documents must be handed in with the claim form:

 

For the Death Benefit:

• A certified copy of Your identity document;
• A certified copy of Your death certificate; and
• Police report, accident report and post-mortem report (in the case of accidental death or unnatural death).

For the Disability Benefit:

• Fully completed and signed claim form;
• A certified copy of Your identity document;
• A copy of Your medical certificate, signed by Your Doctor (this certificate forms part of the claim form) who diagnosed and treated Your Disability;
• A copy of Your letter from Your employer confirming Your Disability (for Occupational Disability Claims);
• A copy of Your certificate of service from Your employer (for Occupational Disability Claims); and
• Any other medical information which We may need to assess Your Claim.

                   

For the Retrenchment Benefit:

• Fully completed and signed claim form;
• A certified copy of Your identity document;
• A copy of Your letter of Retrenchment from Your employer;
• A copy of the UI19 form from Your employer; and
• A copy of 3 (three) months’ bank statements immediately preceding the Claim Event.

                                          

We may do a full investigation to assess Your Claim. We may:

 

• Appoint an investigator;
• Interview any witnesses;
• Ask for all related claims made to other insurance companies;
• Ask for copies of any documents which We consider relevant to Your Claim.

 

We may request any other documents or information that We or the Insurer require because they are essential to assessing the Claim. If We or the Insurer request such documents or information, You or the Claimant are responsible for providing the documents or information requested.

 

The TFG store staff will email the Claim documents to the TFG Insurance Claims Department, or You can email them yourself.  Contact details for the Insurance Claims Department are:

 

• sharecall number: 0860 000 388; and
• email: claimsadmin@tfg.co.za.

 

Notification of all Claims that are submitted to Us under this Policy shall be made to the Insurer by Us, on Your behalf.

 

A Claim shall not be payable if the conditions set out in this paragraph 6 are not met. If there is any fraud in relation to a Claim, You will not be covered by this Policy at all.

 

We will let You know if the Insurer has accepted and approved Your Claim.

 

Repudiation

If Your Claim is Repudiated by the Insurer, We will let You know in writing within 10 Days of the decision to Repudiate Your Claim.

 

If You dispute the Insurer’s Repudiation of Your Claim, You have 90 (ninety) Days from the date You receive the repudiation letter to appeal this decision in writing to the Insurer.  The Insurer’s contact details are in the Disclosure Notice which is attached to this Policy.

 

If the appeal is not successful or the dispute is not resolved at the end of this 90 (ninety) Day period then You have an additional 6 (six) months to institute legal action against the Insurer by serving summons on it, failing which the Insurer is no longer liable in respect of the Claim.

 

Complaints

If You have a complaint, You can make Your complaint to Us or to the Insurer at the contact details in the Disclosure Notice below.

 

If any complaint to TFG or the Insurer is not resolved to Your satisfaction, You may submit a complaint to the Long-term Insurance Ombudsman or the FAIS Ombudsman (see the Disclosure Notice for the Ombudsmans’ contact details) or the Financial Sector Conduct Authority, which is the regulator of the long-term insurance industry (see the Disclosure Notice for their contact details).

 

Please contact TFG's Insurance Claims Department for a copy of TFG's Claims Management Framework. The telephone number is 0860 000 388.

 

7. When this Policy will end

 

7.1    The Insurer can end this insurance by giving You 31 (thirty one) Days’ notice in writing, to your last known address, to Your email address or via SMS.

 

7.2    You cannot cancel or end this insurance because it is compulsory for You to have this insurance if You have a TFG Money Account. You have a right to substitute this Policy with a Credit Life Insurance product of Your choice at any time after the Starting Date, subject to our acceptance of Your substituted product (see clause 12 below for details on substitution).

 

7.3    This Policy will automatically end

 

                                                                7.3.1 when You die; or

                                                                7.3.2 when Your TFG Money Account is terminated; or

        

         7.3.3 when this insurance has been substituted in terms of section 106(4)(a) of the National Credit Act.

 

                                           whichever of these events happens first.

 

7.4    The Insurer may immediately cancel this Policy or place it on hold, refuse any transaction or instructions, or take any other action considered necessary in order to comply with the law and prevent or stop any undesirable or criminal activity.

 

7.5    See clause 2.2.1 above for when cover under the Disability Benefit for Permanent Disability will end.

 

8. Variations to this Policy

 

         The Insurer reserves the right to Vary the terms and conditions of this Policy.   Any changes to the terms and conditions will be on notice to You 31 (thirty-one) Days before the change takes effect.  Such notice will provide appropriate details of the reasons for any Variation to the provisions, terms or conditions of this Policy and an explanation of the implications of the Variation. Any Variations will be binding on both the Insurer and on You and can be applied only after written communication of these changes has been sent to Your last known address, email address or cell phone number as it appears in TFG’s records at that time.            

 

9. Your duties in respect of this Policy

9.1 You must always give Us information that is to the best of Your knowledge:

• True and correct
• Complete – make sure nothing is missing.

9.2    It is Your responsibility to tell us about all relevant changes to Your details or circumstances (especially Your employment status) and all relevant details about a Claim You make.

9.3    If You do not give true, correct and complete information, the Insurer may:

• end this Policy. If this happens, You will not get the Premium which has been paid, back, and/or
• refuse to pay out a Claim. If this happens, You will not get the Premium which has been paid, back.

9.4    You must not commit fraud or make a fraudulent Claim. If You commit fraud or submit a Claim that is in any way fraudulent, We will lay charges with the police and not pay out Your insurance Claim.  We will also not refund any Premium which has been paid.

10. Jurisdiction and governing law

Only the courts of the Republic of South Africa shall have jurisdiction to entertain any claims arising out of or in respect of this Policy and the law of the Republic of South Africa shall apply to this Policy.

You consent to the jurisdiction of the High Court of South Africa, Gauteng Local Division, Johannesburg, in respect of all claims and causes of action between You, the Insurer and/or TFG, whether now or in the future, arising out of or in respect of this Policy.

11. Indulgence, leniency or extension

If We allow You any indulgences, it does not affect our rights under this Policy. It also does not mean that We must allow You any similar indulgences again. For example, if We give you extra time to make a Claim on one occasion, We do not have to give You extra time to make a Claim on another occasion.

 

12. Substitutions

 

12.1 You may exercise Your right in terms of section 106(4)(a) of the National Credit Act to substitute (replace) this Policy with a Credit Life Insurance product of Your choice at any time after the Starting Date, subject to our acceptance of Your substituted product (see 12.2 below).

 

12.2 We will accept Your substituted product if it provides at least the benefits referred to in the National Credit Act, as amended from time to time. Until We accept Your substituted product, this Policy will be in effect. We may ask for proof, from time to time, that Your substituted product meets this requirement. If Your substituted product does not meet this requirement at any time, this Policy will automatically reinstate, subject to the terms and conditions of this Policy.

 

12.3 You may exercise Your right to substitute this Policy as per 12.1 above by calling Us on 0860 000 388 or emailing Us at Insurance.subs@tfg.co.za.

 

12.4 If You choose to substitute this Policy with a Credit Life Insurance product of Your choice, and Your substituted product is accepted by Us, You must provide Us with the details of the insurer under the new product within 5 (five) business days of taking up the new product.

 

12.5 We may demand a written direction to be listed as a loss payee under Your substituted product (if it is accepted by Us) and require the insurer in terms of Your substituted product to settle the Outstanding Balance when a Claim Event happens as a first charge against the proceeds of Your substituted product at any time during the term of Your TFG account.

 

12.6 We may require You to provide Us with a written direction requiring and permitting Us to pay any premiums due under Your substituted product during the term of Your TFG account on Your behalf, as said premiums become due, and to bill You for the amount of such premiums.

 

12.6 If You cancel Your substituted product, or Your substituted product comes to an end for any reason, You must inform Us of this so that this Policy can be automatically reinstated, subject to its terms and conditions.

 

13. Treating Customers Fairly

 

We have created a superior solution – encompassing products, processing and service – tailored to each of our customers’ requirements.  We will, at all times, deliver a superior customer experience, simplifying and improving our customers’ lives.  We will achieve this through a motivated team of skilled people, absolute fairness in our treatment of our customers and partners and complying with the principles and outcomes of Treating Customers Fairly. These are:

• You are confident that Your fair treatment is key to our culture
• Products and services are designed to meet Your needs
• We will communicate clearly, appropriately and on time
• We are not licensed to give advice. Queries regarding advice must be referred to the Insurer
• Our products and services meet Your standards and are of an acceptable level
• There are no barriers to access our services, switch providers, make a claim or to lodge any complaints

 

14. Processing and protection of Personal Information

 

13.1 You acknowledge and consent to TFG and the Insurer processing Your Personal Information:

 

13.1.1 to enter into this Policy and for purposes of administering this Policy and complying with Your instructions; and

 

13.1.2 for the purposes of the prevention and detection of fraud and criminal activities, the identification of the proceeds of unlawful activities and the combating of money laundering activities.

 

13.2 You have the right to access Your Personal Information held by Us or the Insurer, during office hours and within a reasonable time after receiving such a written request for access. You can find our contact details in the Disclosure Notice below.

 

13.3 TFG and the Insurer will only keep Your Personal Information for as long as necessary or required by law.

 

13.4 TFG or the Insurer may transfer its rights or obligations under this Policy to a third party without Your consent and without notice. In such event, the third party will then process your Personal Information.

 

13.5 You may update Your Personal Information at any time by calling Us.

 

Disclosure Notice

Long-term Insurance Policyholder Protection Rules 2017 (PPRs)

Financial Advisory and Intermediary Services (FAIS) General Code of Conduct 2003

Your Intermediary

Business Name:                                             Foschini Retail Group (Pty) Ltd                                  

Registration number:                                     1988/007302/07 

Physical address:                                                          Stanley Lewis Centre, 340 Voortrekker Road, Parow East, 7500                  

Postal address:                                               P O Box 6020, Parow East, 7501                                 

Telephone:                                                     021 938 1911 and/or 0860 834 834             

Email address:                                                customerservices@tfg.co.za                         

Website:                                                         www.tfg.co.za and/or www.mytfginsure.co.za                                                         

FAIS registration (FSP No):                             32719

In terms of the FSP license, Foschini Retail Group (Pty) Ltd is authorised to provide intermediary services for products under Long-term Insurance Category B1.

Without in any way limiting and subject to the other provisions of the Services Agreement/Mandate, Foschini Retail Group (Pty) Ltd accepts responsibility for the lawful actions of their representatives (as defined in the Financial Advisory and Intermediary Service Act) in rendering financial services within the course and scope of their employment. Some representatives may be rendering services under supervision and will inform you accordingly.

TFG is committed to combating money-laundering and terrorist finance as required by the Financial Intelligence Centre Act 38 of 2001, as amended. As such, you are required to inform us if you are a domestic prominent influential person (DPIP) or foreign prominent public official (FPIP) as defined in said Act. If your status changes (I.e. you become a DPIP or FPIP after taking up this Policy, you are also required to keep TFG informed.

 

Legal and contractual relationship with the Insurer: Foschini Retail Group (Pty) Ltd is an authorised financial services provider and registered credit provider in terms of the National Credit Act (NCRCP#36). Foschini Retail Group (Pty) Ltd performs services as an intermediary and binder holder under the Long-Term Insurance Act, the Financial Advisory and Intermediary Services Act and its Regulations, entering into life policies.  It has an agreement with Guardrisk Life Limited, a cell captive insurer, and has the necessary mandates to act on behalf of Guardrisk Life Limited and acts in accordance with the mandate which is in place.

Guardrisk Life Limited and Foschini Retail Group (Pty) Ltd have concluded a shareholder and subscription agreement that entitles Foschini Retail Group (Pty) Ltd to place insurance business with Guardrisk Life Limited. The shareholder and subscription agreement entitles Foschini Retail Group (Pty) Ltd to share in the profits and losses generated by the insurance business. Guardrisk Life Limited may distribute dividends, at the sole discretion of its Board of Directors, to Foschini Retail Group (Pty) Ltd during the existence of the Policy.  

Professional Indemnity Cover: Foschini Retail Group (Pty) Ltd holds Professional Indemnity insurance cover.

Claims Procedure including prescription period: please contact Foschini Retail Group (Pty) Ltd’s Insurance Claims Department for a copy of Foschini Retail Group (Pty) Ltd’s Claims Management Framework.  

Complaints Procedures: If you have a complaint, or if you would like a copy of the Foschini Retail Group (Pty) Ltd’s Complaints Management Framework, kindly visit our website, call Customer Services on 0860 834 834 or email us at customerservices@tfg.co.za.

For all complaints, please first address your complaint with us, the Administrator, as we would like to try and resolve it. If we have not been able to assist satisfactorily, then you may elevate your complaint to Guardrisk Life Limited. See below for Guardrisk Life Limited’s full contact details.

If the complaint to Guardrisk Life Limited is not resolved to your satisfaction, you may submit the insurance complaint to the Industry Regulators, whose details appear below.                                          

Compliance Officer: external compliance officer – Nadia Verappen, telephone number 087 897 6970.

                                           Internal compliance officer – Antonio Jacobus, telephone number 021 938 1911.

Conflict of Interest: please call Customer Services on 0860 834 834 for a copy of Foschini Retail Group (Pty) Ltd’s Conflict of Interests Policy.

Your Insurer

Business Name:                               Guardrisk Life Limited

Registration number:                      1999/013922/06

Physical address:                             The Marc, Tower 2, 129 Rivonia Road, Sandton 2196

Postal address:                                PO Box 786015, Sandton, 2146

Telephone:                                       +27-11-669-1000

Web:                                                www.guardrisk.co.za

FAIS registration:                             FSP 76

In terms of the FSP license, Guardrisk Life Limited is authorised to give advice and render financial services for products under:

CATEGORY I:

• Long-term Insurance : Category A
• Long-term Insurance : Category B1
• Long-term Insurance: Category B1-A
• Long-term Insurance : Category B2
• Long-term Insurance: Category B2-A
• Long-term Insurance : Category C

 

Professional Indemnity and/or Fidelity Cover:                                      

Guardrisk has a Professional Indemnity Cover and a Fidelity Guarantee Cover in place.

Compliance Details

Telephone:                                                     +27-11-669-1000

Email:                                                              compliance@guardrisk.co.za

Complaints Details

Telephone:                                                     0860 333 361

Email:                                                              complaints@guardrisk.co.za

Website:                                                         www.guardrisk.co.za

Conflict of Interest :

Guardrisk Life Limited has a conflict of interest management policy in place and is available to clients on the website.

Policy Wording                                                                                         

A copy of the policy wording can be obtained from Foschini Retail Group (Pty) Ltd’s website (details above).  

Policy details

The Policy document and Welcome Letter detail the type of policy, risk covered and the policy benefits.

Premiums

The Policy document and Welcome Letter detail the frequency of premium payments and the amount which is due. The Policy document and Welcome Letter also detail the manner of payment of the premiums, their due date and consequences of non-payment.

Fees

There are no fees payable under this policy.

Other matters of importance

You will be informed of any material changes to the information about the intermediary or insurer provided above.

If we fail to resolve your complaint satisfactorily, you may submit your complaint to the Ombudsman of Long-Term Insurance.

You will always be given a reason for the repudiation of your claim.

If the insurer wishes to cancel your policy, the insurer will give you 31 days’ written notice, to your last known address.

You will always be entitled to a copy of your policy at no charge.

Warning

Do not sign any blank or partially completed application form.

Complete all forms in ink.

Keep notes of what is said to you and all documents handed to you.

Where applicable, call recordings will be made available to you.

Failure to provide correct or full relevant information may influence an insurer on any claims arising from your contract of insurance.

Waiver of Rights

No insurer and/or intermediary may request or induce in any manner a client to waive any right or benefit conferred on the client by/or in terms of any provisions of the said Code, or recognise, accept or act on any such waiver by a client.  Any such waiver is null and void.

Particulars of the Long Term Ombudsman

(For claims/service related matters)

Postal address:                                Private Bag X45, Claremont, Cape Town, 7700

Telephone:                                       +27-21- 657- 5000 / 0860 103 236

Fax number:                                     +27-21- 674- 0951

Email address:                                 info@ombud.co.za

Particulars of the Financial Sector Conduct Authority

Postal address:                                PO Box 35655, Menlo Park, 0102

Telephone:                                       +27-12- 428-8000

Fax number:                                     +27- 12- 346- 6941

Email address:                                 info@fsca.zo.za

Particulars of FAIS Ombudsman

(For product related matters)

Postal Address:                                PO Box 41, Menlyn Park, 0063

Telephone:                                       +27- 12- 762- 5000

Sharecall number:                           +27- 860- 066- 3274

Email address:                                 info@faisombud.co.za

Particulars of the Information Regulator

(For personal information related matters)

Postal Address:                                PO Box 31533, Braamfontein, Johannesburg, 2017

Telephone:                                       +27- 010- 023- 5200

Email address:                                 POPIAComplaints@inforegulator.org.za

 

Version: 14/02/2024