TFG Money Account holders have access to optional TFG Insure products that provide TFG Money Account settlement benefits if the account holder or his/her spouse die.
Account Balance Protection
As a TFG Money Account holder, you have access to this optional life insurance product.
Account Balance Protection settles the outstanding balance on your TFG Money Account if you die. The amount paid towards settlement of your outstanding balance will be calculated on the date of your death.
There is a three months waiting period for natural death, calculated from the starting date of the policy.
The monthly premium is R0.28 for every R100 (or any part thereof) which is outstanding on your TFG Money Account and is billed to your TFG Money Account each month. The premium will not be debited from your TFG Money Account if Your TFG Money Account has a zero or positive balance, as there will be no outstanding balance to cover. The premium is guaranteed for the first month and may be reviewed once a year.
Terms, conditions, limitations, exclusions and charges apply and can be downloaded by clicking on the icon below.
Foschini Retail Group (Pty) Ltd is an authorised financial services provider (FSP no. 32719). Insurance is underwritten by Guardrisk Life Limited, an authorised financial services provider (FSP no. 76) and an insurer licensed to conduct life insurance business in terms of the Insurance Act 18 of 2017.
We are not selling this product at the moment. If you have already taken up this product, and would like to view/download your latest terms and conditions, please click on the icon below.
Foschini Retail Group (Pty) Ltd is an authorised financial services provider. Insurance is underwritten by Guardrisk Insurance Company Limited, an authorised financial services provider.
Big Buy Account Balance Protection
As a Big Buy Account holder at a TFG (The Foschini Group) store, you have access to this optional insurance product.
Big Buy Account Balance Protection provides the following benefit:
Account settlement in the event of death. The amount paid will be based on the total amount outstanding on your Big Buy Account on the date of your death.
There is a three month waiting period for natural death, from the start date of the policy.
The premium for the product will be billed to your Big Buy Account every month and will be calculated as follows:
R 0.30c for every R100 (or any part thereof) owing on your Big Buy Account.
The premium will vary every month, depending on the outstanding balance. The premium is guaranteed for the first month and may be increased, but you will be informed of any increases.
Terms and Conditions apply.
Foschini Retail Group (Pty) Ltd is an authorised financial services provider. Insurance is underwritten by Guardrisk Life Limited, an authorised financial services provider.
Club Magazine
As a TFG Money Account customer, you have access to this optional product.
Club Platinum is a magazine subscription that provides a number of benefits to subscribers, such as bursaries, cash prizes, shopping discounts and grocery coupons, and much more.
Club Platinum also includes a R6 000 death benefit which is paid to the subscriber’s nominated beneficiary if the subscriber dies. This is a life insurance benefit.
There is no waiting period for the death benefit.
Death by suicide is specifically excluded.
The monthly subscription amount includes the premium for the death benefit and is billed to the subscriber’s TFG Money Account each month. The subscription amount is guaranteed for one month and the subscriber will receive 31 days’ notice of premium increases.
Terms, conditions, exclusions and limitations apply and can be downloaded by clicking on the icon below.
Foschini Retail Group (Pty) Ltd is an authorised financial services provider. The death benefit is underwritten by Guardrisk Life Limited, an authorised financial services provider and an insurer licensed to conduct life insurance business in terms of the Insurance Act 18 of 2017.
Club Platinum Magazine
As a TFG Money Account customer, you have access to this optional product.
Club Platinum is a magazine subscription that provides a number of benefits to subscribers; such as bursaries, cash prizes, shopping discounts and grocery coupons, and much more.
Club Platinum also includes a R15 000 death benefit which is paid to the subscriber’s nominated beneficiary if the subscriber dies. The death benefit of R15 000 will automatically reduce to R6 000 on the day that the subscriber turns 65. This is a life insurance benefit.
There is no waiting period for the death benefit.
Death by suicide is specifically excluded.
The monthly subscription amount includes the premium for the death benefit and is billed to the subscriber’s TFG Money Account each month. The subscription amount is guaranteed for one month and the subscriber will receive 31 days’ notice of premium increases.
Terms, conditions, exclusions and limitations apply and can be downloaded by clicking on the icon below.
Foschini Retail Group (Pty) Ltd is an authorised financial services provider. Insurance is underwritten by Guardrisk Life Limited, an authorised financial services provider and an insurer licensed to conduct life insurance business in terms of the Insurance Act 18 of 2017.
TFG Money Personal Loan Protection
If you have been approved by Tyme Bank Limited for a Tymebank TFG Money Personal Loan you are required to take up insurance to protect the outstanding loan amount or instalments on your Tymebank TFG Money Personal Loan.
TFG Money Personal Loan Protection provides a death benefit, a disability benefit and a retrenchment benefit. Guardrisk will pay the outstanding balance on your Tymebank TFG Money Personal Loan (determined on the date of the claim event) if you die, become permanently disabled (including permanent occupational disability) or are retrenched. If your disability is temporary (including temporary occupational disability), Guardrisk will pay the instalments on your Tymebank TFG Money Personal Loan (calculated on the date of the claim event) until you no longer suffer from the disability or occupational disability or for 12 months, whichever is the shorter.
You can only be covered by the disability benefit for occupational disability and the retrenchment benefit if you are permanently employed.
You will not be covered by the disability benefit or the retrenchment benefit if you are a pensioner or if you receive a state grant.
Guardrisk will not cover death or disability which is caused by you being affected by a pre-existing condition which you were aware of in the 12 (twelve) months before the starting date of the product. You will not be covered by the disability benefit for occupational disability or the retrenchment benefit if you were aware of, or received notice of retrenchment, in the three months immediately before the starting date.
There is a 3 (three) month waiting period for the retrenchment benefit and the disability benefit for temporary disability, from the starting date of the product and from the date of permanent employment (for the retrenchment benefit).
The monthly premium (which is the cost of credit you will be liable for) is calculated on every R100 (or any part thereof) which is outstanding on your Tymebank TFG Money Personal Loan, billed as shown in the table below:
|
BENEFIT |
MONTHLY PREMIUM |
|
Death Benefit |
R0.166 per R100 of outstanding loan amount |
|
Disability Benefit |
R0.034 per R100 of outstanding loan amount |
|
Disability Benefit for Occupational Disability and Retrenchment Benefit |
R0.196 per R100 of outstanding loan amount |
You may substitute this policy with a credit life insurance product of your choice at any time after the starting date, subject to Tyme Bank Limited’s acceptance of your substituted product.
Terms, conditions, exclusions and limitations apply and can be downloaded by clicking on the link below.
Foschini Retail Group (Pty) Ltd is an authorised financial services provider (FSP 32719). Insurance is underwritten by Guardrisk Life Limited, an authorised financial services provider (FSP 76) and an insurer licensed to conduct life insurance business in terms of the Insurance Act 18 of 2017.
Jet Club Magazine & Benefits
R80 worth of monthly Jet Club rewards vouchers
Up to 70% off local & international travel
R120 000 in monthly prize giveaways
7 magazines a year with the latest in celeb news, food, fashion, home & décor, kids crafts and more….
Up to R5000 funeral benefit**
Subscribe to Jet Club for only R48.00 per month billed to your TFG account monthly.
**Death benefit underwritten by Guardrisk Life Limited, an authorised financial services provider (FSP 76) and licensed life insurer in terms of the Insurance Act 18 of 2017.
We are not selling this product at the moment. If you already have a policy, and would like to view/download your latest policy and disclosure notice, please click on the icon below.
Foschini Retail Group (Pty) Ltd is an authorised financial services provider. Insurance is underwritten by Guardrisk Insurance Company Limited, an authorised financial services provider.
CLUB (If you subscribed to CLUB on or after 7 March 2021 the following Policy & Disclosure Notice applies)
We are not selling this product at the moment. If you already have a policy, and would like to view/download your latest policy and disclosure notice, please click on the icon below.
Foschini Retail Group (Pty) Ltd is an authorised financial services provider. Insurance is underwritten by Guardrisk Insurance Company Limited, an authorised financial services provider.
CLUB (If you subscribed to Club before 7 March 2021 the following POLICY & DISCLOSURE Notice applies)
We are not selling this product at the moment. If you already have a policy, and would like to view/download your latest policy and disclosure notice, please click on the icon below.
Foschini Retail Group (Pty) Ltd is an authorised financial services provider. Insurance is underwritten by Guardrisk Insurance Company Limited, an authorised financial services provider.
Club Platinum (If you subscribed to Club Platinum after 7 March 2021 the following POLICY & DISCLOSURE Notice applies)
We are not selling this product at the moment. If you already have a policy, and would like to view/download your latest policy and disclosure notice, please click on the icon below.
Foschini Retail Group (Pty) Ltd is an authorised financial services provider. Insurance is underwritten by Guardrisk Insurance Company Limited, an authorised financial services provider.
Club Platinum (If you subscribed to Club Platinum before 7 March 2021 the following POLICY & DISCLOSURE Notice applies)
TFG Customer Protection Plan
As of 17 November 2024, you must have credit life insurance to cover the outstanding balance on your TFG Money Account. As a feature of the TFG Money Account, TFG provides TFG Customer Protection Plan which will be activated when you open your TFG Money Account. What the benefits are:
TFG Customer Protection Plan settles or partially settles (depending on the benefit paid out) your outstanding balance on your TFG Money Account if you die, if you become permanently or temporarily disabled (including occupational disability) or if you are retrenched.
The death, permanent disability (including permanent occupational disability) and retrenchment benefits settle the full outstanding balance determined on the claim event date when a claim is approved. The temporary disability (including temporary occupational disability) benefit pays your instalments on your TFG Money Account determined on the claim event date for a period of 12 months, or until you are no longer disabled, whichever is shorter.
Exclusions, limitations and waiting period:
You can only be covered by the disability benefit for occupational disability and the retrenchment benefit if you are permanently employed.
You will not be covered by the disability benefit or the retrenchment benefit if you are a pensioner or if you receive a state grant.
Guardrisk will not cover death or disability which is caused by you being affected by a pre-existing condition which you were aware of in the 12 (twelve) months before the starting date of the product.
A pre-existing condition is 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 your death or disability.
You will not be covered by the disability benefit for occupational disability or the retrenchment benefit if you were aware, or received notice of retrenchment, in the three months immediately before the starting date or if you become retrenched within 3 (three) months immediately following the starting date.
There is a 3 (three) month waiting period for the disability benefit for temporary disability and temporary occupational disability, from the starting date of the product.
Premiums
The monthly premium (which is the cost of credit you will be liable for) is calculated on every R100 (or any part thereof) which is outstanding on your TFG Money Account, billed to your TFG Money Account, as shown in 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 |
When your TFG Money Account has a zero or credit balance, the premium will not be billed as there is no outstanding balance to cover. The premium is guaranteed for the first month and subject to review once every calendar year.
Substitution
You may 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 of the policy for details on substitutions.
Terms, conditions, exclusions and limitations apply and can be downloaded by clicking on the link below.
Foschini Retail Group (Pty) Ltd is an authorised financial services provider. Insurance is underwritten by Guardrisk Life Limited, an authorised financial services provider and an insurer licensed to conduct life insurance business in terms of the Insurance Act 18 of 2017.
