POLICY AND DISCLOSURE NOTICE FOR THE LIFE INSURANCE FUNERAL BENEFIT WHICH FORMS PART OF THE OPTIONAL JET CLUB PRODUCT (“the/this Policy”)

This is a life insurance Policy under the funeral class of business.

This document sets out the terms and conditions of the funeral insurance benefit which forms part of Your Jet Club subscription. This Policy provides You with funeral cover 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 enrolment form; and
• Any changes we have agreed in writing.

Your Jet Club subscription is optional. This means that, when you subscribe to Jet Club, You will be covered by the Funeral Benefit as set out in this Policy, but it is Your Beneficiary’s choice whether or not to claim the Funeral Benefit when You die, and it is Your choice whether or not to subscribe to Jet Club.

 

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:

 

Accident                             means the 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 the death of the Insured and shall exclude Natural Death;

Beneficiary                         means a person nominated by You as the person in respect of whom the Insurer should meet the Policy Funeral Benefit. If You do not nominate a person to be Your Beneficiary, You agree that the Claimant will be Your Beneficiary. You will be the Beneficiary if Your Partner dies;

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;

Business Days                    means any days excluding Saturdays, Sundays and public holidays in the Republic of South Africa;

Claim                                  means, unless the context indicates otherwise, a demand for the Funeral Benefit 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 and who must be You (if Your Partner dies), Your surviving Partner (if You die), or if You don’t have a Partner, a person who is financially dependent on You, Your sibling (including a half sibling or step sibling) or parent (including a natural or legally adoptive parent);

Claim Event                       means Your 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 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;

Exclusion                            means a loss or event not covered by this Policy. Should a Claim Event arise from an Exclusion, the  Funeral Benefit will not be payable. ‘Exclusions’ shall have a corresponding meaning;

Funeral Benefit                  means the amount payable on Your Death as defined in this Policy;

Insolvency Act                   means the Insolvency Act 24 of 1936;

Insured                               means You and/or Your Partner, as the context requires. The Insured is the person who will be covered by the Funeral Benefit in terms of this Policy;

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;

Jet Club Subscription Amount        means the monthly amount which You pay for Your Jet Club subscription;

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;

Partner                               means Your legal husband, wife or civil union spouse or a person who is in a permanent relationship with You and who shares a domicile (the address which a person treats as their permanent home) with You, who is 18 (eighteen) or older and a South African citizen or legal permanent resident, who You have nominated to be covered by the Funeral Benefit There may only be one Partner insured under this Policy at any point in time;

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 cover yourself and Your Partner with the Funeral Benefit in terms of this Policy. The Premium is included in the Jet Club Subscription Amount. We pay the Premium to the Insurer on Your behalf and recover the amount which We pay to the Insurer from You (see clause 4 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;

Starting Date                     means the date when this Policy starts, which is the date on which You take up this Policy. If the Partner cover is taken up after the Starting Date, the Starting Date for the Partner cover will be the date that You take up the Partner cover, or the date that We capture take-up of the Partner cover (whichever is the earlier);

TFG Money Account          means the store card account that You have with TFG;

Unclaimed Benefit            means a benefit in terms of an approved Claim where the Funeral Benefit can’t be paid to the Beneficiary within 3 (three) months of the Claim having been approved because the Beneficiary is not contactable. In other words, the Beneficiary cannot be located, his/her emails are undelivered, his/her post is returned to Us and/or his/her contact number is no longer in use;

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;

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

Waiting Period                  means a period of 3 (three) months starting from the Starting Date and which applies for Natural Death.  Once the Waiting Period has passed, Natural Death of the Insured will be covered. There is no waiting period for Accidental Death. 

For replacement policies (not where this Policy is an additional policy to increase the overall funeral benefits of the Policyholder) only: if the Insured was covered by a similar policy with another insurer (the “Other Policy”) at least 31 (thirty one) days before the Starting Date, and the waiting period under the Other Policy had been completed, this Waiting Period will not apply to the Insured, provided that this is disclosed to the Insurer and/or TFG by the Insured. If the waiting period under the Other Policy has not expired on the Starting Date, the Insurer may impose a waiting period equal to the unexpired part of the waiting period under the Other Policy.

Welcome Letter                 means the letter sent to You from Us confirming that You are covered by this Policy and that You have consented to taking up this Policy;

You/Your                           means the South African citizen or legal permanent resident who is 18 (eighteen) or older, who has chosen to subscribe to Jet Club.

1.          Insurance Period

You are only insured while You have valid insurance. You have valid insurance if all the terms and conditions of this Policy are met and if You have paid the monthly amount required by Us on Your TFG Money Account (see clause 1.1).

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

1.1 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);

1.2 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.

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

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

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

1.6 You reach Your Credit Limit;

As soon as any of the circumstances listed above at 1.1 to 1.6 come to an end or no longer apply, the Funeral 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.          Funeral Benefit – what We cover

 

Your Death: Subject to the Waiting Period and the terms and conditions of this Policy, on Your Death, Guardrisk will pay the sum of R3 500 (three thousand five hundred rand) to the Beneficiary or to a service provider of the Claimant’s choice and at the Claimant’s direction.

 

Your Partner’s Death: Subject to the Waiting Period and the terms and conditions of this Policy, on Your Partner’s Death, Guardrisk will pay the sum of R1 500  (one thousand five hundred rand) to You or to a service provider of Your choice and at Your direction.

 

The Funeral Benefit will only be paid out once for a Partner. Once it has been paid out, Partner cover will end.

 

The Insurer will pay the benefits within 48 (forty eight) hours [2 (two) Business Days] upon receipt of all the necessary claim documentation (see clause 5).

3.      Specific Exlusions (what is not covered)

         The Insurer will not cover Death which is caused by the Insured:

 

3.1   Actively participating in war, invasion, acts of foreign enemies, hostilities, warlike operations (whether war be declared or not), civil war, insurrection, rebellion or revolution, civil commotion or uprisings, military or usurped power, mutiny, martial law or state of siege or any other event or cause which determines the proclamation or maintenance of martial law or state of siege;

3.2   The act of any lawfully established authority in controlling, preventing, suppressing or in any other way dealing with any occurrence referred to in clauses 3.2 and 3.3 above.

 

3.3   The Insured’s active participation in the commission of a criminal activity resulting in a Claim Event;

3.4   committing or attempting to commit suicide (this exclusion only applies for the first 12 (twelve) months following the Starting Date).

If the Insurer alleges that by reason of clauses 3.1 to 3.4 above the Insured’s Death is not covered by this Policy, the burden of proving the contrary shall rest on the Claimant.

 

This Policy does not cover any consequential loss, which is loss because of the Insured’s Death, for example, if the Insured were the primary breadwinner for his/her family and he/she can no longer provide for his/her family because he/she has died.

 

4. Premium

4.1   The Premium is R3.00 per month and is included in the Jet Club Subscription Amount. There is no additional Premium if You choose to cover Your Partner.

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 Jet Club Subscription Amount (which includes the Premium paid on Your behalf) to Your TFG Money Account every month. This debit will show on Your TFG Money Account each month.

4.3   The Insurer will not Vary the Premium during the first year following the Starting Date unless there are reasonable actuarial grounds to do so, or if the Variation will be to Your benefit.

4.4   After the first year, 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 Funeral Benefit. The notice will also tell You what steps you can take, including giving You an opportunity to cancel Your Jet Club subscription, 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. The Premium will not be increased in the first 12 (twelve) months after the Starting Date.

4.5   The terms and conditions for TFG’s store cards 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 Jet Club Subscription Amount will attract interest if Your TFG Money Account attracts interest, at the same rate as the rate applicable to the TFG Money Account and We will keep that interest.

4.6   The amount equal to the Jet Club Subscription Amount will be debited to Your TFG Money Account (and We will pay the Premium to the Insurer) even if Your TFG Money Account has a zero or positive (credit) balance.

5. How to claim

A Claim must be made in writing within 3 (three) months after the Claim Event for both Accidental Death and Natural Death.

 

You (or the Claimant) may request a claim form from any Jet Store or download a claim form on TFG’s insurance website at www.tfginsurance.co.za or contact the Insurance Claims Department and request a claim form to be sent to You (the contact details are further down in this clause).

 

You can notify Us of a Claim by clicking on the claims notification tab on Our website at www.mytfginsure.co.za, 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 email the completed and signed claim form with supporting documents listed below to the Insurance Claims Department at claimsadmin@tfg.co.za. If the Claimant does not have access to email, he/she can go to his/her closest Jet Store and hand in a fully completed and signed claim form with the documents listed below.

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

 

• A certified copy of the Insured’s death certificate;
• A certified copy of the Claimant’s identity document;
• A certified copy of the Insured’s identity document;
• A certified copy of the Beneficiary’s identity document (if You have died);
• A copy of the DHA1663 – Notice of Death form (completed by the medical practitioner who has certified the death);
• A Police Report in instances where the Accidental Death is as a result of a motor vehicle accident, suicide or where the death is under investigation.
• Any other documents or information that We or the Insurer request because they are essential to assessing the Claim. If We or the Insurer request such documents or information, You are responsible for providing the documents or information requested.

 

The Jet 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 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, the Insured will not be covered by this Policy at all.

 

We will let the Claimant know if the Insurer has accepted and approved a Claim. The Funeral Benefit will be paid to the Claimant by electronic funds transfer.

 

Unclaimed Benefit

If the Benefit under this Policy is an Unclaimed Benefit, We will take action to determine if You/the Beneficiary is alive and/or aware of the Benefit payable to You/him/her under this Policy. Specifically, in the 3 (three) year period after the Unclaimed Benefit arises, We will:

 

• attempt to contact You/the Beneficiary telephonically and electronically to advise You/him/her of the Unclaimed Benefit; or

 

• determine Your/ the Beneficiary’s last known contact information by comparing internal and external databases, including the use of internet search engines and/or social media; or

 

• appoint an external tracing company to locate You/the Beneficiary.

 

Before the end of the 3 (three) year period referred to above, We will confirm the Unclaimed Benefit and transfer the amount of the Unclaimed Benefit to an account in the name of the Insurer, and the Insurer will accept liability for the Unclaimed Benefit.

 

Repudiation

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

 

If the Claimant disputes the Insurer’s Repudiation of his/her Claim, he/she 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.

 

Please see our website at www.mytfginsure.co.za or contact TFG's Insurance Claims Department for a copy of TFG's Claims Management Framework. The telephone number is 0860 000 388.

 

Complaints

If the Insured has a complaint, he/she can make the complaint to Us or to the Insurer by using the contact details in the Disclosure Notice below.

 

If any complaint to TFG or the Insurer is not resolved to the Insured’s satisfaction, the Insured 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 life insurance industry (see the Disclosure Notice for their contact details).

 

 

6. 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    This Policy will automatically end:

 

                                                                6.2.1 when You die; or

                                                                6.2.2 when Your TFG Money Account is terminated; or

                                                                6.2.3 when Your Jet Club subscription ends;

 

                                           whichever of these events happens first.

 

6.3    If Your Partner is being covered, the insurance cover for Your Partner shall end when your Partner dies or upon Your divorce or the permanent separation from Your Partner. The Funeral Benefit will only be paid out once for a Partner. Once it has been paid out, Partner cover will end. This means that, if Your Partner dies and the Benefit is paid, You will not be able to cover another Partner under this Policy. You must notify TFG in writing if You separate from Your Partner, divorce or remarry, failing which any Claim made will be affected negatively. You may cancel the Partner cover at any time by contacting TFG’s customer services on 0860 834 834. Cover will stop on the day when You cancel the Partner cover.

 

6.4    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.

 

6.5    You may cancel Your Jet Club subscription (which includes the Funeral Benefit) at any time by contacting TFG’s customer services on 0860 834 834. Cover will stop at midnight on the last day for which the Jet Club Subscription Amount has been paid.

 

7. Variations to this Policy

 

         The Insurer will not Vary the terms, conditions or provisions of this Policy during the first year following the Starting Date unless there are reasonable actuarial grounds to do so, or if the Variation will be to Your benefit.  After the first year, the Insurer reserves the right to Vary the terms, conditions or provisions of this Policy once a year, but We will give You 31 (thirty-one) Days’ notice of any Variations, the reason for the Variation to the terms, conditions or provisions of the Policy and an explanation of what the Variation will mean for You. Any Variations and or changes will be binding on You and the Insurer and can be applied to the existing terms and conditions only after written communication of these changes has been sent to Your last known address as it appears in TFG’s records at that time.       

 

8. 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 or the Claimant makes.

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

9. 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.

10. 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 pay the Jet Club Subscription Amount on one occasion, We do not have to give You extra time to pay the Jet Club Subscription Amount on another occasion.

 

11. Cooling-off rights

You can cancel this Policy within 31 (thirty one) days of having received this Policy, or from a reasonable date on which it can be deemed that the Insured received this Policy (provided that no benefit has yet been paid or claimed or the event insured against has not yet occurred) by giving notice in writing to the Insurer, care of TFG.  If this Policy is cancelled within this 31 (thirty one) day cooling - off period, You will receive a refund of Your paid Premiums.

        

         If this Policy is cancelled after the expiry of the cooling - off period, the Premiums paid will not be refunded to You.

 

12. 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

 

 

13. 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 Your 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. You have the right to access Your Personal Information held by TFG or the Insurer, during office hours and within a reasonable time after receiving such a written request for access. You may update Your Personal Information at any time by calling TFG.

13.4 You accept and expressly consents that Your Personal Information collected by TFG and/or the Insurer may be used for the following reasons:

13.4.1 to establish and verify Your 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;

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

13.4.5 to carry out the activities referenced at clause 5 above in relation to an Unclaimed Benefit.

13.5 You expressly consent to TFG and the Insurer sharing Your Personal Information with third parties to administer this Policy and comply with any regulatory requests. TFG and the Insurer may share Your information for further processing with the following third parties, which third parties have an obligation to keep Your Personal Information secure and confidential:

 

13.5.1 payment processing service providers, merchants, banks and other persons that assist with the processing of Your payment instructions;

 

13.5.2 law enforcement and fraud prevention agencies and other persons tasked with the prevention and prosecution of crime;

 

13.5.3 regulatory authorities, industry ombudsmen, governmental departments, local and international tax authorities, and other persons that TFG and the Insurer, in accordance with the Applicable Laws, are required to share Your Personal Information with;

 

13.5.4 credit bureau’s;

 

13.5.5 TFG’s and the Insurer’s service providers, agents and sub-contractors that have been contracted by TFG or the Insurer to offer and provide products and services to You in respect of this policy; and

 

13.5.6 persons to whom TFG or the Insurer cede their rights or delegate their authority in terms of this Policy.

 

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

13.7 Unless You consent thereto, TFG and the Insurer will not sell, exchange, transfer, rent or otherwise make available Your Personal Information to any other parties and You indemnify TFG and the Insurer from any claims resulting from disclosures made with Your consent.

13.8 You understand that if TFG/Insurer has utilised Your Personal Information contrary to the Applicable Laws, You have the right to lodge a complaint with the Insurer or with the Information Regulator once established.

13.6 It is Your responsibility to ensure that You have Your Partner’s permission and Your Beneficiary’s permission to share their Personal Information with TFG and the Insurer for the purpose of administering this Policy, subject to the limits of this clause 13 which also applies to your Partner’s and Your Beneficiary’s Personal Information.

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

: internal compliance officer – Antonio Jacobus, telephone number 021 938 1911 and email antonioj@tfg.co.za

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.

Binder and Intermediary Fees

There are no binder and intermediary fees payable under this policy.

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.

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.

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.

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

(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:                                                info@fsca.co.za

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:                                                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: 16 08 2023