Account Balance Protection Terms and Conditions


This is a life insurance Policy.

This document sets out the terms and conditions of the insurance You have chosen to take up to cover the Outstanding Balance on your TFG Money Account – see clause 2 for details on the Benefit). This Policy provides cover for Your TFG Money Account against Death 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 terms and conditions and disclosure notice;
  • The account application form;
  • Quotation and pre-agreement statement for small and intermediate credit agreements;
  • Insurance disclosure;
  • Credit facility agreement;
  • The recording of the telephone call between You and Us (if You agreed to this product on the telephone); and
  • Any changes we have agreed in writing.

This insurance is optional. This means that, when You open a TFG Money Account, You may choose to take up this insurance.


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



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


Accident                             means a sudden, unforeseen and uncertain event, which could not reasonably be expected to occur, which is caused by violent, external, physical and visible means at an identifiable time and place, resulting directly and independently of any other cause, in Bodily Injury;

Accidental Death               means Bodily Injury which (directly and independently of all other causes) results in death and excludes Natural Death;

Benefit                               means the amount payable on the Death of the Insured as defined in this Policy;

Bodily Injury                      means physical bodily injury to the Insured caused by an Accident. Bodily Injury shall be deemed to include death by starvation, thirst and/or exposure to the elements;

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;

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

Claim Event                       means the Insured’s Death 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;

Credit Limit                        means the maximum approved amount of credit in terms of Your TFG Money Account;

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

Death                                 means the Insured’s Accidental Death or Natural Death, subject to the Exclusions and the terms and conditions of this Policy;

Domicile                             means the address which a person treats as their permanent home;

Exclusion                            means a loss or event not covered by this Policy. No Benefit will be payable if a Claim Event arises from an Exclusion. ‘Exclusions’ shall have a correspondig meaning;

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;

Insured                               means You and/or Your Partner;

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

Natural Death                   means death that is not Accidental Death;

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;

Partner                               means (where You have selected the Partner option and where the additional Premium has been paid) Your legal husband, wife or civil union spouse or a person who is in a permanent relationship with You and who shares a Domicile with You. There may only be one Partner insured under this Policy at any point in time. Your Partner must not be older than sixty (60) at the Starting Date;

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

Premium                            means the monthly amount that You must pay to insure the Outstanding Balance on Your TFG Money Account. We pay the Premium to the Insurer on Your behalf and recover the amount which We pay to the Insurer from You (see clause 5 for details), and ‘Premiums’ shall have a corresponding meaning;

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 or Premiums payable in respect of this Policy have not been paid;

                   and ‘Repudiated’ anad ‘Repudiation’ shall have corresponding meanings;

Starting Date                     means the date when this Policy starts and is effective, which is the date when You sign the credit agreement and accept the terms and conditions for Your TFG Money Account OR the date that the take-up of this insurance product is captured on TFG’s credit facility system OR the date when You accepted the insurance if You agreed to this insurance on the telephone;

TFG Money Account         means the store card account that You have with TFG which is a revolving credit facility which We offer to 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’ and ‘Varied’ shall have a corresponding meaning;

Waiting Period                  means a period during which the Insurer will not pay the Benefits in terms of this Policy. The Waiting Period is 3 (three) months from the Starting Date of this Policy, applicable to the Insured’s Natural Death. Once this period has passed, the Insured’s Natural Death will be covered. There is no waiting period for Accidental Death. 

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

Where the Partner option has been selected after the Starting Date and where the additional Premium has been paid, the Waiting Period for any Claim relating to the Partner will start from the date that the Partner’s details are captured by TFG;

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;

Welcome Letter                 means the letter which We send to You confirming inter alia that You have consented to taking out the insurance cover;

You/Your                           means the South African person who is older than 18 (eighteen) and younger than 60 (sixty) and who has applied for a TFG Money Account, which application has been accepted by TFG.

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) and if You have paid the monthly amount required by Us on Your TFG Money Account (see clause 1.2).

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:


We 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 or no longer apply, the Benefit under this Policy will reinstate automatically from that date and You will receive notice that cover is reinstated from that date onwards. There is no cover under the Policy for the period that the Policy has been suspended and the Claimant will not be able to lodge a Claim for any event happening in the period that the Policy has been suspended. You will receive confirmation from TFG if and when the Policy suspends. See clause 6 for details on when this Policy will end.

This insurance will start on the Starting Date.

2.          Benefits – what We cover


  • Death: on the Insured’s Death (when You or Your Partner if you have selected the Partner option and paid the additional Premium die), the Insurer will settle (pay) the Outstanding Balance on Your TFG Money Account, calculated on the Claim Event Date (the date of the Insured’s Death), subject to the Waiting Period and the terms and conditions of this Policy.


3.      General Exclusions (what is not covered)

         The Insurer will not pay any Benefit under this Policy if:


3.1   the Insured commits suicide (whether sane or insane) or attempts to commit suicide within the first 2 (two) years from the Starting Date, or re-instatement date;

3.2    a Claim for a Benefit arises directly or indirectly from or as a consequence to or from, or is traceable to:

3.2.1 ionising radiations or contamination by radioactivity from any nuclear fuel or from any nuclear waste from the combustion of nuclear fuel or from any nuclear weapons material.  For this exception only, combustion shall include any self-sustaining process of nuclear fusion;

3.2.2 war, invasion, act of foreign enemy, hostilities (whether war be declared or not), civil war, mutiny, insurrection, rebellion, revolution, military or usurped power;

3.2.3 the Insured’s deliberate exposure to exceptional danger (except in an attempt to save human life);

3.2.4 the Insured's active participation in the commission of a criminal activity resulting in a Claim Event.;

3.2.5 the Insured refusing medical treatment as recommended by a South African Health Professions Council registered medical doctor; or

3.2.6 wilful self-injury or where the Insured is affected temporarily or otherwise, by alcohol, narcotics, insanity or drugs, unless the latter is administered by or prescribed by or taken in accordance with the instructions of a registered medical practitioner (other than herself/himself where the Insured is such a registered medical practitioner).

  1. Premium

4.1   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 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:

Disclosure in terms of Section 106(5)(b) of the National Credit Act 34 of 2005


Please take notice that, in terms of Section 106 (5) (b) of the Act, the purchase of the

credit insurance policy offered by TFG to You accrues the following:


Cover for You

Additional Premium if Partner option selected

Total Premium where the additional Partner option has been selected

Costs of the credit insurance for which you are liable

R0.23 per R100.00

R0.19 per R100.00

R0.42 per R100.00

Commission and binder fee payable to TFG in relation to the Policy

R0.05 per R100.00

R0.04 per R100.00

R0.09 per R100.00

Premium payable

R0.28 per R100.00

R0.23 per R100.00

R0.51 per R100.00


        You have the right to substitute the above Credit Life Insurance policy with a credit insurance product of Your choice.

4.2   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.

4.3   The Premium may be Varied once a 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 Benefit. The notice will also tell You what steps you can take, including giving You an opportunity to cancel the Policy, if You are not happy with the Variation/Variations. The following factors will be considered before a Premium increase is decided:

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

              4.3.2 past and future expected lapse experience;

              4.3.3 past and future expected mortality experience;

              4.3.4 expected future reinsurance;

              4.3.5 past and future claims experience;

              4.3.6 any regulatory and legislative changes impacting this Policy; and

              4.3.7 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.

4.4   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.

4.5   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.

4.6   The amount equal to the Premium will be debited from Your TFG Money Account, even if the debit of the amount equal to the Premium causes You to exceed (go over) Your Credit Limit.  

  1. How to claim

A Claim must be made within 3 (three) months of the Claim Event, otherwise the Claimant will have to provide Us with an affidavit detailing the reasons for late submission of the Claim. The Claim may be Repudiated unless there are extenuating circumstances that prevented timeous notification.


A claim form is attached to the Welcome Letter. A claim form can also be requested from a TFG Store, downloaded from our website at or You or the Claimant 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).


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


To make a Claim, the Claimant must go to his/her closest TFG Store and hand in a fully completed and signed claim form with the documents listed below. The Claimant can also email the completed and signed claim form to the Insurance Claims Department at

The following documents must be handed in with the claim form:


  • fully completed and signed TFG claim form;
  • certified copy of the deceased’s death certificate;
  • certified copy of the deceased’s identity document;
  • certified copy of the Claimant’s identity document;
  • a certified copy of the police report if the Death is caused by an Accident.


If required by the Insurer, the Claimant shall provide the Insurer with the deceased Insured’s post-mortem examination and any other documentation (for example, affidavits) which may be required relating to the deceased Insured’s death.


The TFG store staff will email the Claim documents to the TFG Insurance Claims Department.  Contact details for the Insurance Claims Department are:



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


A Claim shall not be payable if the conditions set out in this paragraph 5 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 the Claimant know if the Insurer has accepted and approved the Claim.



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


If the Claimant disputes the Insurer’s Repudiation of Your Claim, the Claimant has 90 (ninety) Days from the date he/she receives 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 the Claimant has 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.



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 National Financial Ombud Scheme 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.


  1. When this Policy will end


6.1    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.


6.2    You may cancel or end this insurance by giving the Insurer 31 (thirty one) Days’ notice in writing, care of Us.


6.3    This Policy will automatically end


                                                                6.3.1 when You die; or

                                                                6.3.2 when Your TFG Money Account is terminated; or

         6.3.3 when You turn 65 (sixty five);


                                           whichever of these events happens first.


6.4    If the Partner option has been selected and the additional premium paid, cover for the Partner only will end:


                                                                6.4.1 when Your Partner turns sixty-five (65); or

                                                                6.4.2 when You divorce or permanently separate from Your Partner.


         You must notify Us in writing if You permanently separate from Your Partner, divorce or remarry, failing which any Claim made will be affected negatively.


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


6.6    The Insurer shall not be affected by any arrangements that may be made between Us and You with regards to any reduction of the number of Instalments originally agreed on or extending the period for the repayment of the indebtedness beyond that originally agreed upon.


6.7    Cooling off rights


         You can cancel this Policy within 60 (sixty) Days of receiving this Policy and Disclosure Notice, or from a reasonable date on which it can be deemed that You received this Policy and Disclosure Notice (provided that no Benefit has yet been paid or claimed or a Claim Event has not yet occurred) by giving notice in writing to the Insurer, care of Us.  If this Policy is cancelled within this 60 (sixty) Day cooling off period, You will receive a refund of her/his Premiums. If this Policy is cancelled after the expiry of the cooling off period, the Premiums will not be refunded.


  1. Variations to this Policy


         The Insurer reserves the right to Vary this Policy by giving You 31 Days’ written notice before any premium rate adjustment and 31 (thirty one) Days’ notice before any other Policy Variation of its intention to do so by post, email or SMS, unless the Variation is to increase the Benefit without increasing the Premium, in which case no advance notice will be required.  Any Variations and or changes will be binding on You, the Insurer and TFG and the Insurer and can be applied at any time to the existing terms and conditions after written communication of these changes has been sent by post email or SMS to Your last known address/contact number, as it appears in the Insurer’s records at that time.


  1. Your duties in respect of this Policy

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

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

8.2    It is Your responsibility to tell us about all relevant changes to Your details or circumstances and all relevant details about a Claim You make.

8.3    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.

8.4    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.

8.5    This Policy does not accrue a surrender, loan or paid-up value.

8.6    If You don’t strictly comply with all the provisions, conditions and terms of this Policy, then the Insurer will not be liable on this Policy to You.

8.7    Except for the rights that You have given to Us under this Policy, You cannot give away this Policy or any of the rights in terms of this Policy or any Claim in respect of this Policy to any other person. No person or company other than TFG, acting under the cession contained herein, shall be entitled to any rights against the Insurer in respect of this Policy nor shall any persons or company other than TFG acting as aforesaid, be entitled to make any claim or demand on the Insurer under or in respect of this Policy.

  1. 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.

  1. 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.


  1. Commission or other remuneration payable to Us


        An intermediary fee of 3.25% and a binder fee of 15% of the total monthly premium is payable to Us, which is included in the monthly Premium.


  1. 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


  1. Processing and protection of Personal Information


13.1 For the purposes of this section, “Applicable Laws” shall mean the Protection of Personal Information Act 4 of 2013 and any other legislation referring to data management and such processes.

13.2 The Insured’s privacy is of utmost importance to TFG and the Insurer. TFG and the Insurer will take the necessary measures to ensure that any and all information, provided by You or which is collected from You is processed in accordance with the provisions of the Protection of Personal Information Act 4 of 2013 and further, is stored in a safe and secure manner.

13.3 You agree to give honest, accurate and up-to-date Personal Information and to maintain and update such information when necessary. The Insured has the right to access his/her Personal Information held by TFG or the Insurer, during office hours and within a reasonable time after receiving such a written request for access. The Insured may update his/her Personal Information at any time by calling TFG.

13.4 The Insured accepts and expressly consents that his/her Personal Information collected by TFG and/or the Insurer may be used for the following reasons:

13.4.1 to establish and verify the Insured’s identity in terms of the Applicable Laws;

13.4.2 to enter into this Policy and to enable the Insurer, TFG and either of their authorised representatives to fulfil their obligations in terms of this Policy and to comply with Your instructions;

13.4.3 to enable the Insurer and TFG to detect fraud and criminal activities and to take the necessary measures to prevent any suspicious or fraudulent activity in terms of the Applicable Laws; and

13.4.4 reporting to the relevant regulatory authority/body, in terms of the Applicable Laws.

13.5 TFG and the Insurer will only keep the Insured’s Personal Information for as long as necessary or required by law.

13.6 The Insured expressly consents to TFG and the Insurer sharing his/her Personal Information with third parties to administer this Policy and comply with any regulatory requests.

13.7 Unless consented to by the Insured, TFG and the Insurer will not sell, exchange, transfer, rent or otherwise make available the Insured’s Personal Information to any other parties and the Insured indemnifies TFG and the Insurer from any claims resulting from disclosures made with his/her consent.

13.8 The Insured understands that if TFG/Insurer has utilised his/her Personal Information contrary to the Applicable Laws, he/she has the right to lodge a complaint with Guardrisk or with the Information Regulator once established.

13.9 If You have chosen to take up cover for Your Partner, You confirm that You have alerted Your Partner to this clause 13 and obtained Your Partner’s consent to provide TFG and the Insurer with Your Partner’s Personal Information, subject to the provisions of this clause 13. You indemnify TFG and the Insurer from any claims resulting from the sharing of Your Partner’s Personal Information without Your Partner’s consent.


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:                                                     0860 834 834

Email address:                                                               

Website:                                                and/or                                                         

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 its juristic representative, specifically Tapestry Home Brands (Pty) Ltd, and representatives (as defined in the Financial Advisory and Intermediary Service Act) in rendering financial services within the course and scope of their employment or appointment (as the case may be). 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 Long-Term 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

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. See below for Guardrisk’s full contact details.

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

Compliance Officer: Antonio Jacobus, telephone number 021 938 1911 and email

Conflict of Interest: please call Customer Services on 0860 576 576 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


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:


  • 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


Complaints Details

Telephone:                                                     0860 333 361



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.


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.


The Policy document and Welcome Letter detail fees which are payable under the policy.

Cooling Off Rights

If any of the information reflected above and below was given to you orally, this disclosure notice serves to provide you with the information in writing.  Should you not be satisfied with the policy, you are entitled to a period up to 60 days from date of receipt of the policy within which you may cancel your policy in writing at no cost.  Cover will cease upon cancellation of the policy.

All premiums paid by the policyholder to the insurer up to the date of receipt of the cancellation notice will be refunded to the policyholder.

Other matters of importance

You will be informed of any material changes to the information about the intermediary, insurer and or underwriter 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.


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.

Don’t be pressurised to buy the product. You have the right to refuse the offer of this insurance.

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.

National Financial Ombud Scheme

(For claims/service related matters)

Physical address (Cape Town):                      Claremont Building, 6th Floor, 6 Vineyard Road, Claremont, 7708

Physical address (Johannesburg):                 110 Oxford Road, Houghton Estate, Illovo, 2198

Telephone:                                                     0860 800 900

Email address:                                      


Particulars of the Financial Sector Conduct Authority

(For market conduct related matters)

Postal address:                                              PO Box 35655, Menlo Park, 0102

Telephone:                                                     +27-12- 428-8000

Fax number:                                                   +27- 12- 346- 6941

Email address:                                      

Particulars of FAIS Ombudsman

(For product related matters)

Postal Address:                                              PO Box 41, Menlyn Park, 0063

Telephone:                                                     +27- 12- 762- 5000 

Sharecall:                                                        +27- 860- 066- 3274

Email address:                                      

 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:                                      


Version: 09 05 2024