Funeral Plan Policy & Disclosure Notice
(collectively, the “POLICY”)
This Policy is underwritten by Guardrisk Life Limited, a registered long-term insurer with registration number 1999/013922/06 and FSP number 76 (“GUARDRISK” or “INSURER”).
Long-term insurance: Funeral (Life Class) benefit.
Foschini Retail Group (Pty) Ltd (registration number 1988/007302/07 and FSP number 32719) (“ADMINISTRATOR” or “TFG”).
in respect of a loss event or risk 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 are not paid
and ‘REPUDIATION’ shall have a corresponding meaning;
any Policy benefit;
any exclusion; or
the duration of this Policy
and ‘VARY’ and ‘VARIATIONS’ have corresponding meanings;
For replacement policies (not where this Policy is an additional policy to increase the overall funeral benefits of the Policyholder) only: if an Insured was covered by a similar policy with another insurer (the “Other Policy”) at least 31 (thirty one) days before the Commencement Date, and the waiting period under the Other Policy had been completed, this Waiting Period will not apply to that Insured, provided that this is disclosed to the Insurer and/or the Administrator by the Insured. If the waiting period under the Other Policy has not expired on the Commencement Date, the Insurer may impose a waiting period equal to the unexpired part of the waiting period under the Other Policy.
Where the Spouse, Parent or Family option has been selected after the Commencement Date of the Policy and where the additional premium/s has/have been paid, the Waiting Period for any claim relating to the Spouse, Parent/s or Child/ren will commence from the date that the Spouse, Parent or Family option is captured by TFG;
In return for the timeous and prior payment of the required monthly premium by the Principal Insured and receipt thereof by Guardrisk and subject to the terms of this Policy, on the occurrence of the Claim Event, Guardrisk will pay the benefits to the Nominated Beneficiary, or in the case of the Spouse, Parent and/or Family option, the benefit will be paid to the Principal Insured, or to a service provider of the Claimant’s choice and at the Claimant’s direction. Guardrisk will pay the benefits within 48 (forty eight) hours [2 (two) Business Days] upon receipt of all of the necessary claim documentation (see clause 10).
On the Death of the Principal Insured:
Subject to the Waiting Period and the terms and conditions of this Policy, Guardrisk will pay the capital sum of R32 500 (thirty two thousand five hundred rand) to the Nominated Beneficiary.
On the Death of the Principal Insured’s Spouse (where the Spouse option has been selected):
Subject to the Waiting Period and the terms and conditions of this Policy, Guardrisk will pay the capital sum of R19 300 (nineteen thousand three hundred rand) to the Principal Insured.
On the Death of a Child/Children (where the Family option has been selected):
Subject to the Waiting Period and the terms and conditions of this Policy, Guardrisk will pay the capital sum of R6 400 (six thousand four hundred rand) to the Principal Insured.
On the Death of a Parent/s (where the Parent option has been selected):
Subject to the Waiting Period and the terms and conditions of this Policy, Guardrisk will pay the following capital sums to the Principal Insured:
The Parent/s will continue to be covered even when the Principal Insured is divorced or separated from the Spouse.
Guardrisk will not be liable to pay any benefit under this Policy if the claim for a benefit arises directly or indirectly from or as a consequence to or from, resultant from or traceable to:
8.1 If the premium is charged to the Principal Insured’s TFG credit facility, the following provisions apply:
8.2 If the premium is paid by means of a debit order, the following provisions apply:
8.3 The premium is subject to review once every calendar year. The Principal Insured will be notified of any premium increases 31 (thirty one) days prior to any change.
From the second month of the currency of the Policy, if the premium is not paid on the date that it was due to be paid as a result of the Principle Insured stopping the debit order payment, the Principal Insured will have 31 (thirty one) days to pay the premium, failing which the Policy will end at 16h00 on the date that the premium was due to be paid. From the second month of the currency of this Policy, if the premium is not paid for any other reason than having been stopped by the Principle Insured, the Administrator or its authorised representative will re-debit the premium in the following month, which means the premium will be billed twice, and should the outstanding premium not be paid when it is re-debited, the Policy will be cancelled from the date the first unpaid premium was due to be paid.
whichever of the aforementioned events in this clause 9 first occurs.
A Funeral benefit Claim must be made within 3 (three) months of the Claim Event.
A claim form is attached to the Welcome Letter.
When making a Claim, the Claimant must go to the closest TFG store and hand in the fully completed claim form with the documents listed below. If the Principal Insured has lost the claim form that was attached to the Welcome Letter, she/he may request a copy from any TFG store, or by clicking on the claims notification tab on the Administrator’s website at www.tfginsurance.co.za.
The Claimant must take the following documents to the TFG store:
If required by Guardrisk, the Insured’s representative shall provide Guardrisk with the deceased Insured’s post-mortem report and the Police Report in cases of unnatural death.
The TFG store staff will email the claim documents to TFG’s Insurance Claims Department. Contact details for the Insurance Claims Department are:
Please contact TFG’s Insurance Claims Department for a copy of TFG’s Claims Process. The sharecall number is 0860 000 388.
Where the Insured or Claimant disputes Guardrisk’s repudiation or rejection of her/his Claim (which the Administrator communicates on behalf of Guardrisk), the Insured/Claimant has 90 (ninety) days from the date of receipt of the rejection letter to appeal this decision in writing to Guardrisk. If the appeal is not successful or the dispute is not resolved at the end of this 90 (ninety) day period then the Insured/Claimant has an additional 6 (six) months to institute legal action against Guardrisk by serving summons on it, failing which Guardrisk is no longer liable in respect of the Claim and such legal action will no longer be possible.
If any complaint to the Administrator and/or Guardrisk is not resolved to the Insured’s satisfaction, the Insured may submit a complaint to the relevant Ombudsman scheme (see the Disclosure Notice for the Ombudsman’s contact details).
Notification of all Claims that are submitted to the Administrator under this Policy shall be made to Guardrisk by the Administrator, on behalf of the Principal Insured or Nominated Beneficiary/Claimant.
A Claim shall not be payable by Guardrisk, if the conditions set out in this clause are not complied with.
This Policy shall be voidable in the event of misrepresentation, misdescription or non-disclosure by or on behalf of the Insured of any particular which is material to Guardrisk’s assessment of the risk, in which event any and all premiums so paid or payable shall be forfeited to Guardrisk.
It is the responsibility of the Insured to let the Administrator know if any of her/his circumstances change and where this could affect the outcome of a potential Claim and/or invalidate this Policy and its benefits.
This Policy may not be assigned or transferred. This Policy does not accrue a surrender, loan or paid up value.
Strict compliance by the Insured with all the provisions, conditions and terms of this Policy shall be a condition precedent to liability on the part of Guardrisk hereunder.
This Policy can be cancelled by the Principal Insured within 60 (sixty) Days of having received this Policy, or from a reasonable date on which it can be deemed that the Principal 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 Guardrisk, care of the Administrator. In the event that this Policy is cancelled within this 60 (sixty) Day cooling - off period, the Principal Insured will receive a refund of her/his paid premiums.
After this 60 (sixty) Day cooling - off period, this Policy may be cancelled by the Principal Insured giving 30 (thirty) days notice in writing to Guardrisk, care of the Administrator or it may be cancelled by Guardrisk giving 31 (thirty one) Days’ notice in writing to the Principal Insured at the latter’s last known address. Cover will cease at midnight on the last day for which the premium has been paid. In the event that this Policy is cancelled after the expiry of the cooling - off period, the premiums paid will not be refunded to the Principal Insured.
Guardrisk reserves the right to Vary this Policy by giving the Administrator written notice (by post, email or SMS) of such intention at least 31 (thirty one) Days before any premium rate adjustment and 31 (thirty one) Days’ notice before any other Policy Variation, unless the Variation is to increase the Policy benefits without increasing the premium, in which case no advance notice will be required. The Administrator must inform the Insured of any material Variation of the terms and conditions. Any Variations will be binding on Guardrisk, the Administrator and the Insured and can be applied at any time to the existing terms and conditions after written communication of these changes has been sent to the Principal Insured.
If any Claim under this Policy is in any respect fraudulent, or if any fraudulent means or devices are used by the Insured or anyone acting on her/his behalf to obtain any benefits under this Policy, all benefits including premiums paid under this Policy shall be forfeited.
In addition, in the event of misrepresentation, misdescription or non-disclosure by or on behalf of the Insured of any particular material to the assessment of the risk, all benefits including premiums paid under this Policy shall be forfeited.
Only the courts of South Africa shall have jurisdiction to entertain any claims arising out of or in respect of this Policy and the law of South Africa shall apply to this Policy.
The parties hereby consent to the jurisdiction of the High Court of South Africa (South Gauteng Division, Johannesburg), in respect of all claims and causes of action between them, whether now or in the future, arising out of or in respect of this Policy.
No indulgence, leniency or extension of time which the Administrator or Guardrisk may grant or show to the Insured, shall in any way prejudice the Administrator or Guardrisk, or preclude the Administrator or Guardrisk, from exercising any of their rights in the future.
An intermediary fee of 7.5% and a binder fee of 15% of the total monthly premium is payable to the Administrator, which is included in the monthly premium.
Unless otherwise expressly provided in this Policy, nothing in this Policy shall give any rights to any person other than the Insured. Payment to the Principal Insured or the approved claimant shall in every case be a full discharge to Guardrisk.
21.1The Principal Insured acknowledges and consents to the Administrator and Guardrisk processing his/her Personal Information:
21.1.1 to enter into this Policy and for purposes of administering this Policy and complying with his/her instructions; and
21.1.2 for the purposes of the prevention and detection of fraud and criminal activities, the identification of the proceeds of unlawful activities and the combating of money laundering activities.
21.2 The Principal Insured has the right to access his/her Personal Information held by the Administrator or Guardrisk, during office hours and within a reasonable time after receiving such a written request for access.
21.3 The Administrator and Guardrisk will only keep the Principal Insured’s Personal Information for as long as necessary or required by law.
21.4 The Administrator or Guardrisk may transfer its rights or obligations under this Policy to a third party without the Principal Insured’s consent and without notice. In such event, the third party will then process the Principal Insured’s Personal Information.
21.5 The Principal Insured may update his/her Personal Information at any time by calling the Administrator.
TFG has created a superior solution – encompassing products, processing and service – tailored to each of its customers’ requirements. TFG will, at all times, deliver a superior customer experience, simplifying and improving its customers’ lives. TFG will achieve this through a motivated team of skilled people, absolute fairness in its treatment of its customers and partners and complying with the principles and outcomes of Treating Customers Fairly. These are:
Long-term Insurance Policyholder Protection Rules 2017 (PPRs)
Financial Advisory and Intermediary Services (FAIS) General Code of Conduct 2003
Business Name: Foschini Retail Group (Pty) Ltd
Registration number: 1988/007302/07
Physical address: Stanley Lewis Centre, 340 Voortrekker Road, Parow East, 7500
Postal address: P O Box 6020, Parow East, 7501
Telephone: 021 938 1911 and/or 0860 576 576
Email address: firstname.lastname@example.org
Website: www.tfg.co.za and/or www.tfginsurance.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.
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, a cell captive insurer, and has the necessary mandates to act on behalf of Guardrisk and acts in accordance with the mandate which is in place.
Professional Indemnity and/or Fidelity Cover: Foschini Retail Group (Pty) Ltd holds Professional Indemnity Insurance and Fidelity 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 Process.
Complaints Procedures: Should you have a complaint, or if you would like a copy of the Foschini Retail Group (Pty) Ltd’s Complaints Policy, kindly visit our website, call Customer Services on 0860 576 576 or email us at email@example.com.
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 – Loren Basson, telephone number 087 897 6970
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.
Business Name: Guardrisk Life Limited
Registration number: 1999/013922/06
Physical address: 3rd Floor, 102 Rivonia Road, Sandown, Sandton 2196
Postal address: PO Box 786015, Sandton, 2146
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:
Professional Indemnity and/or Fidelity Cover:
Guardrisk has a Professional Indemnity Cover and a Fidelity Guarantee Cover in place.
Fax Number: +27-11-675-3826
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.
A copy of the policy wording can be obtained from Foschini Retail Group (Pty) Ltd’s website (details above).
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.
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: firstname.lastname@example.org
Particulars of the Registrar of Long Term Insurance
Postal address: PO Box 35655, Menlo Park, 0102
Telephone: +27-12- 428-8000
Fax number: +27- 12- 347- 0221
Email address: email@example.com
Particulars of FAIS Ombudsman
(For product related matters)
Postal Address: PO Box 74571, Lynnwood Ridge, 0040
Telephone: +27- 12- 470- 9080
Fax number: +27- 12- 348- 3447
Email address: firstname.lastname@example.org