HomeChoice (Pty) Ltd is an authorised financial services provider (FSP no. 48448). Guardrisk Life is an authorised financial services provider (Registration No 1999/013922/06 and FSP No 76).
This HomeChoice Customer Protection Plan Policy (“Policy”) wording is underwritten by Guardrisk Life Limited (“Guardrisk”). Guardrisk is a registered insurance company and a licensed financial services provider. Guardrisk agrees to accept any eligible person who has successfully applied for a HomeChoice Loan and will, on receipt of a monthly premium payable by HomeChoice, provide cover as defined in this Policy, and provided an Insured Event occurs during the currency of the Policy, pay the Benefit as stipulated so long the event giving rise to a Claim falls within the Benefits covered and all claims documentation is submitted within the period in which to lodge a Claim and all other required formalities of Guardrisk are being complied with.
This Policy, as amended from time to time, applicable administrative forms, application forms, pre-agreement statements and quotations, declarations, authorisation and any voice-logged conversations pertaining to this Policy, form the basis of the contract. In the event of any conflict between the provisions of this Policy and that of any other documents as mentioned above, the provisions of the Policy shall prevail.
Disclosures concerning HomeChoice as required
In terms of the Financial Advisory and Intermediary Services Act (FAIS) (Act No. 37 of 2002) the following information must be disclosed to clients and potential clients:
Neither HomeChoice nor any of its representatives own more than 10 % of the issued shares directly or indirectly of any Life Assurer or Product Supplier. HomeChoice is not an associated company of any Life Assurer or Product Supplier;
HomeChoice has Professional Indemnity Insurance cover and Fidelity Guarantee, which is available upon request;
HomeChoice has an Internal Complaints Resolution Policy;
All information obtained or acquired from or about you shall remain confidential unless you provide written consent to the contrary, or unless HomeChoice is required by law to disclose such information; and
Moonstone Compliance (Pty) Ltd is our compliance officer. Moonstone Compliance can be contacted at: 25 Quantum Street, Technopark, Stellenbosch, 7600, Tel No: (021) 8838000
Business Name: HomeChoice
Registration number: 1985/002759/07
Physical address: 78 MAIN ROAD WYNBERG 7800
Postal address: Private Bag X150, Claremont, 7735
Telephone: 0861 999 635
FAIS registration (FSP No):
In terms of the FSP license, HomeChoice (Pty) Ltd is authorised to give [Intermediary Services and/or Advice] for products under:
Long-Term Insurancesubcategory A
Short-Term InsurancePersonal Lines
Long-Term Insurancesubcategory B1
Long-term insurancesubcategory B2
Long-term Insurancesubcategory B2-A
Long-term Insurancesubcategory B1-A
Short-term InsurancePersonal Lines A1
Without in any way limiting and subject to the other provisions of the Services Agreement/Mandate, HomeChoice (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: HomeChoice is a binder holder of Guardrisk Life Limited, an authorised Financial Services Provider and underwriter of this plan
Professional Indemnity and/or Fidelity Cover:
HomeChoice (Pty) Ltd has a Professional Indemnity Cover and a Fidelity Guarantee Cover in place.
The process that a claim will follow at the Company:
Claim received from claimant via Telephone, email or fax channels
Lodging of claim by Company’s claims department on the
Communication to acknowledge receipt of claim sent to claimant when the claim is lodged
Claim notification and documents reviewed (one full working day)
Any outstanding or additional information and documentation requested by claims handler from claimant or relevant party
Assessment of claim, decision making and oversight (48-hour Assessment and
Insurer response to client with claim outcome
Claim outcome communicated to the claimant (within 1 full working day of decision)
Escalation to follow where applicable time lines are exceeded to management and the Insurer or claimant is dissatisfied with
Complaints can be submitted telephonically or in writing to
Telephone: 0861 999 635
Postal Address: Private Bag X150, Claremont, Cape Town 7735, South Africa
The complaint must contain the following information:
Name, surname and identity number of the customer;
Name, surname and contact details of the complainant, including a mandate to
act on behalf of the customer;
Specific details of the complaint, including dates, examples, supporting documentation;
Intended resolution of the complaint. How would the customer want the
This Policy includes a death benefit which provides a payment equal to the Outstanding Liability under your Credit Agreement with HomeChoice in the event of the death of an Insured Person during the period of insurance.
Total and permanent disability benefit
This Policy includes a Permanent Disability benefit which provides a payment equal to the Outstanding Liability in the event of an Insured Person suffering Permanent Disability during the Period
The Permanent Disability Claim Event Date, as determined by Guardrisk, is the date on which the Insured Person became Permanently Disabled.
Temporary disability benefit
In the event of an Insured Person suffering Temporary Disability for a period in excess of 31 (thirty-one) consecutive days, this Policy will provide a benefit of a payment equal to the Outstanding Liability in the event of an Insured Person suffering Temporary Disability during the Period of Insurance. The Temporary Disability Benefit will be payable from the Date of Disability, as determined
Loss of income/retrenchment benefit
In the event of an Insured Person becoming unemployed or experiencing a loss of income other than as a result of permanent or temporary disability, this Policy will provide a Loss of Income Benefit which provides a payment equal to the Outstanding Liability in the event of an Insured Person experiencing a Loss of Income.
The unemployment or Loss of Income Claim Event Date, as determined by Guardrisk, is the date on which the Insured Person ceases to earn an income. For purposes of this Policy, Loss of Income shall mean the total loss of permanent, contract or temporary employment, or any other form of income that the Insured Person has received. The Loss of Income must be total in nature and does not include cover for loss of any supplementary income whilst the main income remains in force.
Insured Persons are eligible to be covered for death, Permanent Disability, Temporary Disability and Loss of Income Benefits set out above, subject to the following conditions:
If an Insured Person is not employed at the date that the insurance policy is entered into, cover against loss of income will not be included;
If the Insured Person is a pensioner at the date that the insurance policy is entered into, cover against occupational disability will not be included;
Waiting Periods and exclusions as set out in this policy will apply.
The Waiting Periods applicable to each Benefit are specified in the table below.
Total and Permanent
No Waiting Period
3 month Waiting Period
3 month Waiting Period
3 month Waiting Period
Please note, that in addition to these Waiting Periods, Exclusions as set out in this policy will also apply.
The Waiting Period means the period, from the Commencement Date, in which no cover will be provided and in which period the Insured Person is not entitled to Policy Benefits for the causes specified in the Policy. Any Claim arising during and within the Waiting Period will not be covered and will remain uncovered even after the Waiting Period has expired.
The Waiting Period will be based on the Commencement Date of your HomeChoice credit facility.
Should cover in respect of an Insured Person be terminated and thereafter be reinstated again, the waiting period will re-commence on the date of reinstatement and will not be waived by Guardrisk.
Termination of benefits
Termination of benefits
Cover for a particular Insured Person will cease upon their Death or the HomeChoice account being fully paid up or being settled after Payment of a Claim, or after the cancellation of the Policy by HomeChoice.
No benefit will be payable in terms of that Insured Person after the expiry of insurance cover.
HomeChoice can cancel this Policy by giving the Insurer 31 (thirty-one) Days’ written notice.
The Insurer can cancel this Policy at any time by giving HomeChoice 31 (thirty-one) Days’ written notice of its intention to cancel.
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.
Exclusions for death and disability benefits:
Any Pre-existing Medical Conditions (i.e. any medical condition, physical defect, illness, bodily injury or disability) that the Insured Person suffered from or of which the Insured Person was aware of that affected the Insured Person in the 12 (twelve) month period prior to the commencement of the Insurance policy where the Claim Event was caused directly or indirectly by, arising from, contributed to by, aggravated by, connected with or resulting from such Pre-existing Medical Condition, will not be covered in the first 12 month period from the Commencement Date. However, any Claim arising from a Pre-existing Medical Condition after the expiry of the 12 month period will be covered in full.
The abuse of alcohol, drugs or narcotics;
Willful self- inflicted injury or suicide;
Active participation in war, invasion, Acts of foreign enemies, hostilities, warlike operations (whether war be declared or not), civil war, insurrection, rebellion revolution, civil commotion or uprisings, military power;
The use of nuclear, biological or chemical weapons, or any radioactive contamination:
Participation in criminal activities;
Participation in hazardous activities such as mountain climbing, bungee jumping and speed racing.
Exclusions for cover against loss of income benefit:
Retrenchment or termination of employment within the first 3 months after the commencement of cover under this Policy,
Lawful dismissal, including dismissal as a result of willful misconduct that is a violation of some established, definite rule of conduct, a forbidden act, willful dereliction of duty or misconduct;
Voluntary forfeiture of salary, wages, or other employment income;
Voluntary retrenchment or termination of employment;
Participation in an unprotected strike; and
Retrenchment of which the Insured Person was aware or received notice of during the 3 months preceding the Commencement Date of this Policy.
General restrictions, exclusions, provisions
General restrictions, exclusions, provisions and conditions
Currency and law
Premiums and Benefits payable under this Policy shall be paid in the Republic of South Africa and in South African Rands only.
This Policy shall be governed by and interpreted in accordance with South African Law in the courts of the Republic of South Africa.
Insured Persons must ordinarily reside in the Republic of South Africa to be covered in terms of this policy. Cover is extended to include a visit lasting less than 3 (three) months outside the Republic of South Africa.
An Insured Person who is not a South African citizen, a legal permanent resident or who ordinarily resides outside of the Republic of South Africa will not be covered in terms of this Policy.
Guardrisk shall have no liability whatsoever under this Policy where any Claim arises from or is the result of any intentional contravention of any criminal law, whether legislative or common law (including fraud), or in instances of any exaggerated Claim by HomeChoice as the Credit Provider or an Insured Person, or by anyone acting on the Credit Provider or an Insured Person’s behalf or with his/her consent, or by any person claiming any Benefit under this Policy.
In the event of such a Claim, all Benefits afforded in terms of this Policy and all premiums paid in respect of this Policy shall be forfeited, and this Policy will be deemed void or cancelled as from the date of the criminal offence, or of any exaggerated Claim or event at Guardrisk’s discretion.
Misrepresentation, misdescription or non-disclosure
Misrepresentation, misdescription or non-disclosure of any material fact or circumstances in connection with this Policy, a Claim or the application for this Policy may result in the Policy being cancelled, a Claim Repudiated or the Policy being deemed void from inception and all premiums paid being forfeited.
In the event that a Benefit has been paid as a result of any misrepresentation, non-disclosure, misdescription or fraudulent action by the Credit Provider, an Insured Person or by any person claiming any Benefit under this Policy, such person will be required to immediately repay or return the benefit paid on demand. Guardrisk shall be entitled to take legal action to recover the Benefit and any costs involved.
Guardrisk reserves the right to amend, add or change the terms and conditions of this Policy by way of endorsement, by giving one month’s written notice, provided that any amendment will not retrospectively affect the extent of cover already provided and in force in terms of this Policy. Any Variation or changes will be binding on both the Insurer and the Insured Person and can be applied at any time to the existing terms and conditions after written communication of these changes has been sent to the Insured Person’s last known address as it appears in our records at that time.
Changes in details supplied
Should there be any changes to the original details supplied at the time of application, Insured Persons must notify HomeChoice, the binder holder within 31 (thirty-one) days of such change occurring, and Guardrisk shall take the action deemed necessary in this regard.
Should the Insured Person not notify the binder holder of such change, Guardrisk reserves the right to reject liability in terms of a Claim or to cancel the Policy.
All communication by the Insured Person, with Guardrisk and the binder holder, must be in writing including email.
Guardrisk may, at its sole discretion, accept communication by phone where such communication is voice logged by Guardrisk or on Guardrisk’s behalf.
Guardrisk’s liability in terms of this Policy is conditional on the Credit Provider, an Insured Person or anyone acting on the Credit Provider or Insured Person’s behalf, complying with all the terms, conditions and warranties of this Policy.
Waiver of conditions
No waiver of any of the terms, conditions and endorsements of this Policy shall be valid unless made in writing under the signature of a duly authorised officer of Guardrisk. In addition, no act or omission by Guardrisk or any officer, employee or servant of Guardrisk shall be deemed to be a representation on behalf of Guardrisk upon which the Credit Provider, Insured Persons or their representatives are entitled to act.
Guardrisk shall have the right to do all that is necessary and appropriate to comply with any requirements of any legislation or regulatory authorities.
No benefit payable under this policy shall carry interest.
On the happening of a Claim Event, which may result in a Claim in terms of this Policy, you or your appointed executor shall submit the Claim to HomeChoice, the binder holder.
The binder holder, on behalf of Guardrisk, shall be notified of the full details in writing of the Claim as soon as reasonably possible but within a maximum of 90 (ninety) days from the date of the event giving rise to the Claim.
Guardrisk shall in no way whatsoever be liable to pay any Benefit if the full details of the Claim are not received within the maximum period as stipulated above unless there are extenuating circumstances for such late submission.
All certificates, information and evidence required by Guardrisk shall be furnished in the form prescribed and without expense to Guardrisk on request. Should Guardrisk require confirmatory diagnosis or a second opinion on the evidence submitted to Guardrisk, the Insured Persons shall submit to medical examinations by a Medical Practitioner appointed by Guardrisk, at Guardrisk’s expense, as often as shall be required in connection with any Claim.
Guardrisk shall be entitled to access any medical and hospital records in relation to an Insured Person’s health and make copies of and use such records.
Any receipt or discharge which the Insured Person or its estate may give to Guardrisk for any Benefit paid under this Policy shall be deemed as final and complete discharge of all liability of Guardrisk in respect of any and every contingency resulting to the Insured Person in consequence of the Claim Event whether resulting before or after the date of such receipt or discharge.
Rejection of claim and
Rejection of claim and time bar
If Guardrisk Repudiates a Claim made in terms of this Policy, voids this Policy, or if there is a dispute regarding the amount of the Claim, representation may be made to Guardrisk within 90 (ninety) days (the “representation period”) of the date of your receipt of the letter of Repudiation.
Representation must be submitted in writing to:
Guardrisk Claims Manager
Postal address: PO Box 786015, Sandton, 2146
If the dispute is not satisfactorily resolved in this manner, legal action may be instituted against Guardrisk for the enforcement of the Claim by way of the service of summons against Guardrisk. Summons must be served on Guardrisk within 90 (ninety) days of the expiry of the representation period, failing which all Benefits in respect of such Claim shall be forfeited and no liability can arise in terms of such Claim
Words importing the singular shall include the plural, and vice versa, words importing the masculine gender shall include the feminine and neuter genders, and vice versa, and words importing natural persons shall include legal persons, and vice versa.
The clause headings in this Policy are inserted for reference purposes only and shall not affect the interpretation of any of the provisions to which they relate.
Unless the contrary appears from the context, the following words and phrases shall have the meanings assigned to them where they appear in this Policy:
Any recommendation, guidance or proposal of a financial nature furnished, by any means or medium, to any client or group of clients -
in respect of the purchase of any financial product; or
in respect of the investment in any financial product; or
on the conclusion of any other transaction, including a loan or cession, aimed at the incurring of any liability or the acquisition of any right or benefit in respect of any financial product; or
on the variation of any term or condition applying to a financial product, on the replacement of any such product, or on the termination of any purchase of or investment in any such product, and irrespective of whether or not such advice -
is furnished in the course of or incidental to financial planning in connection with the affairs of the client; or
results in any such purchase, investment, transaction, variation, replacement or termination, as the case may be, being effected.
The basic contractual salary or wage income earned by an Insured Person immediately prior to the occurrence of a Claim Event, excluding any overtime or any other additional income.
Binder holder means HomeChoice (Pty) Ltd (“HomeChoice”) (Reg.no 1985/002759/07; FSP no 48448) who are authorised to bind and administer Policies on behalf of Guardrisk.
A Casual Worker shall refer to a person employed on a part time, irregular or flexible basis, to meet a fluctuating demand for work and is not considered a permanent employee. A Part Time worker shall also meet this definition.
Means, unless the context indicates otherwise, a demand for Policy Benefits by a person in relation to a Policy, irrespective of whether or not the person’s demand is valid.
Means a person who makes a Claim against this Policy.
Means the risk insured under this Policy, being the Death, the Total and Permanent Disability, the Temporary Disability and the Loss of Income/ Retrenchment Benefits for the Insured Person as defined in the Policy.
Claim payable date
The claim payable date means the date on which a valid Claim becomes payable, and is equal to the Claim Event Date.
Commencement Date means the date from which an Insured Person is covered in terms of this Policy.
A Contract Worker shall mean a person who is employed on a contract basis which does not constitute full time employment and for which the benefits of a full time employee will not apply.
Credit Agreement means the credit agreement entered into between the Insured Person and HomeChoice.
Credit life insurance
Includes cover payable in the event of a consumer’s death, disability, unemployment, or other insurable risk that is likely to impair the consumer’s ability to earn an income or meet the obligations under a Credit Agreement:
Credit provider means HomeChoice (Pty) Ltd (“HomeChoice”) (Reg.no 1985/002759/07), NCR registration number NCRCP 454.
Date of disability
The Date of Disability shall be the date on which the Insured Person became disabled on the basis of objective medical or professional evidence having regard to an Insured Person’s last date of active employment of ability to earn an income. In regard to Insured’s that are not in full time employment, the Date of Disability shall be determined by the Insurer and shall be determined by the date on which the Insured Person has ceased to be able to perform his normal actions and functions in relation to the care of his person. For purposes of this Policy the results of Disability shall be that the Insured Person in, in the Insurer’s opinion, incapable of receiving an income or profit in his/her own occupation or any other occupation for which he/she could reasonably be expected to become qualified by knowledge, training, education, ability, age and/or experience.
Disability shall mean that an Insured becomes so physically or mentally impaired , whether totally or partially or temporarily or permanently, that the Insured Person’s ability to earn an income or meet the obligations under a Credit Agreement is impaired, and includes, but is not limited to, Occupational Disability.
Shall mean receiving remuneration (a salary) in reward for performing functions in relation to a permanent employment contract.
The Employer by whom the Insured Person is employed and who directly or indirectly remunerates the Insured for such employment.
Means a loss or risk event not covered under a Policy. Should a Claim Event arise from such Exclusion(s), no Benefit will be payable.
Expiry of insurance cover
Expiry of Insurance cover means the date from which all Benefits and premiums in respect of this Policy will cease to be payable, and is equal to the earlier of:
your death and payment of the death benefit; or
Your total and Permanent Disability and the payment of this benefit; or
all benefits pertaining to the Policy being cancelled or expired; or
The Policy becoming lapsed. A Policy is said to lapse when the premiums payable in respect of the Policy are not made in full and on time; or
the non-payment of any premium within 31 (thirty-one) days of the premium due date; or
the payment of a Claim, where the Claim amount is equal to the outstanding liability; or
the payment of the full balance outstanding on the credit facility; or
The termination of the Credit Agreement in terms of sections 122 or 123 of the National Credit Act 34 of 2005 (as amended).
Guardrisk Life Limited (“Guardrisk”) (Reg. no 1999/013922/06; FSP no 76) is a registered long-term insurer and a licensed financial services provider (FSP) that is allowed to sell long-term insurance products. Guardrisk has professional indemnity and fidelity insurance. Guardrisk is authorised to give advice and render financial services for product CATEGORY I: Long Term Insurance Category A, B1, B1-A, B2, B2-A and C.
The regular payments that the Insured Person is obliged to make in terms of the Credit Agreement each month.
Insured Person means the person who has been accepted as the main Insured Person in terms of this Policy and who is the consumer in terms of the Credit Agreement with HomeChoice.
Loss of income/retrenchment benefit
Loss of Income shall mean becoming unemployed or unable to earn an income as a result of any action that is beyond the control of the Insured Person, after the commencement of cover, and receiving no remuneration from any occupation. Loss of income shall include Retrenchment. The loss of income shall not include the termination of a fixed term contract, the voluntary termination of a contract by the insured, any willful steps, actions or decisions by the Insured that leads to the Insured not earning an income. For purposes of this definition, loss of income will not apply to any loss of supplementary income earned by a Life Insured whilst the main income remains in force. Loss of income shall mean a total loss of permanent, contract or temporary employment, or any other form of income that the Insured Person received before the Claim Event happened. Any purchases made on your account after the date of the Claim Event will not be covered by this Policy.
National credit act
Means the National Credit Act, 2005 (Act No. 34 of 2005).
Means a form of disability where a person’s impaired ability to earn an income or meet the obligations under a Credit Agreement, arises from a physical or mental impairment which renders the person unable to continue his or her employment, own occupation, profession or trade.
Optional credit life insurance
Means credit life insurance contemplated in section 106(3) of the National Credit Act.
Outstanding Liability means the amount of the outstanding balance due by you in terms of the Credit Agreement as at the Claim payable date.
Period of insurance
Period of insurance means the period between the Commencement Date and the expiry of insurance cover.
Means personal information as defined in the Protection of Personal Information Act, No 4 of 2013.
Physician or medical practitioner
Physician or Medical Practitioner means a legally and duly qualified medical practitioner registered with the Health Professions Council of South Africa with a valid practice number.
Policy means a long-term policy and shall refer to the clauses in this document together with any attachments and endorsements which shall form (part of) this credit life insurance.
Pre-agreement statement(s) and quotation(s)
Pre-agreement statement(s) and quotation(s) means the pre-agreement statement and quotation for small and intermediate credit agreements issued by HomeChoice in terms of section 92 of the National Credit Act 34 of 2005, in which inter alia the details of the Insured Person, the insurance premium calculation and insurance policy type is shown.
Pre-existing medical condition
Pre existing Medical Condition shall mean an illness or bodily injury sustained or contracted that the Insured Person was aware of, or should reasonably have been aware of, or have received medical treatment or advice by a Medical Practitioner, within the 12 months preceding the Commencement Date of this Policy that results in a Claim within the first 12 months from the Commencement Date. Pre-existing Medical Conditions will however be covered in full once the initial 12 months Waiting Period from the Commencement Date has expired;
Repudiate in relation to a Claim means any action by which an 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 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.
Retrenchment means becoming unemployed or unable to earn an income after the commencement of cover, as a result of the implementation of a staff reduction program, adverse business conditions, the introduction of new technology, reorganisation by the employer, liquidation of the employer or staff reductions as contemplated under the Labour Relations Act 1995 (as amended), and which results in the Insured Person not earning an income from any occupation.
Shall mean the working for oneself rather than for an employer for remuneration or income.
Means any person (whether or not that person is the agent of the Insurer) with whom an Insurer has an arrangement relating to the marketing, distribution, administration or provision of policies or related services.
A temporary worker is a part time or contingent worker who is employed on a short term basis and who lacks a full time permanent employment contract.
Terrorist activity means an act involving the use of violence and/or intimidation, or the threat or the preparation thereof, which appears to be intended to disrupt, coerce or influence a government or the public or a section of the public, read together with Section 1 of the Protection of Constitutional Democracy Against Terrorist and Related Activities Act (Act No. 33 of 2004) as amended.
Temporary Disability means medically certified disabled as a result of illness, injury, infirmity or disease and which prevents the Insured Person from following his/her occupation in which the Insured Person was gainfully employed immediately prior to the onset of such disability provided that the disability endures for an uninterrupted period of 31 (thirty-one) days or more. The disability will, after treatment, improve and only temporarily prevent the Insured Person from earning a full basic income for a period of time.
Total and permanent disability
Total and Permanent Disability means medically certified total disability as a result of illness, injury, infirmity or disease and which cannot be cured or treated, and which prevents the Insured Person from earning an income by following his/her own occupation, or any other for which he/she is suited in terms of training, education, age and experience. An Insured Person shall also be deemed to have suffered Total and Permanent Disability upon the loss or loss of use of both hands, both feet (or one of each) or both eyes.
Treatment or advice
Treatment or advice means the regular or routine examination by, or consultation with, a physician or Medical Practitioner for the purpose of monitoring existing medical conditions.
Variation means any act that results in a change to –
any Policy Benefit;
any Exclusion; or
the duration of this Policy;
Void means to stop a contract from being legally binding. A void contract is not a contract at all because the parties are not, and cannot be, bound by its terms. A contract that is void is not legally enforceable; as if it did not exist. Premiums will be refunded when Guardrisk voids a policy.
Waiting Period means the period from the Commencement Date, in which no cover will be provided and in which period the Insured Person is not entitled to Policy Benefits for the causes specified in the Policy. Any Claim arising during and within the Waiting Period will not be covered and will remain uncovered even after the Waiting Period has expired.
The Insured Person(s) as stated in the Credit Agreement.
The Insured Person acknowledges and consents to the Binder Holder and the Insurer processing his/her Personal Information:
to enter into this Policy and for purposes of administering this Policy and complying with his/her instructions; and
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.
The Insured Person has the right to access his/her Personal Information held by the Binder Holder and the Insurer, during office hours and within a reasonable time after receiving such a written request for access. The Binder Holder and the Insurer will only keep the Insured Person’s Personal Information for as long as necessary or required by law. The Binder Holder and the Insurer may transfer its rights or obligations under this Policy to a third party without the Insured Person’s consent and without notice. In such event, the third party will then process the Insured Person’s Personal Information. The Insured Person may update his/her Personal Information at any time by calling or contacting the Binder Holder or the Insurer.
Treating customers fairly
Treating customers fairly
This product has been created to meet the requirements of our clients. We will at all times deliver on customer service and customer expectations by enforcing the principles of Treating Customers Fairly (TCF). The TCF principles ensure we apply fairness to all client experiences relating to new business, policy terms, service and claims processes. The TCF framework has 6 outcomes which 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 during the lifespan of Your policy;
We provide advice which is suitable to Your needs and circumstances
Our products and services meet your standards and deliver what You expect;
There are no unreasonable barriers to access our services, or to lodge a claim or to lodge any complaints.
Information about this
Information about this policy
Insured Persons who wish to communicate with HomeChoice, the Credit Provider and Binder Holder, to update details or to make a Claim, can contact:
Telephone number: 0861466324
Fax number: 021 680 1100
Postal address: Private Bag X123, Claremont, 7735
Commission of 5% and a binder fee of 9% of the total monthly premium is payable to HomeChoice. All fees are included in the monthly premium.
For the Guardrisk Conflict of Interest Management and Complaints Resolution Policies please visit our website www.guardrisk.co.za.
This is a Credit life Policy. The Policy wording sets out the details of the benefits. For information about when and how much you must pay and what will happen if you do not pay, you must read this full Policy document.
To communicate with Guardrisk to ask any questions in connection with this policy kindly contact:
Guardrisk Life Limited
Postal address PO Box 786015, Sandton, 2146 Telephone number: 011 669 1000
Email: email@example.com Guardrisk Compliance Officer,
Tel: (011) 669-1104, Fax: (012) 675-3826
How to claim
In the event of a Claim, Insured Persons/Claimants must contact HomeChoice at their address above to obtain a claim form and to be advised of all additional documentation that is required for the claim to be processed.
The documentation that is required includes (but is not limited to):
A certified copy of the ID document of the Insured Person;
For death claims: a certified copy of the death certificate of the deceased;
For Permanent Disability Claims: copies of medical records and opinions in support of the disability;
For Loss of Income/Retrenchment Claims: a copy of the UIF card/salary advice and an original letter from the employer confirming Retrenchment/Loss of Income. Only original documentation will be accepted. In the event that the original is not available, only copies certified by a Commissioner of Oaths will be Documentation can be faxed/emailed/posted so that the claims department can start processing the claim. Their details are as follows:
Fax number: 021 680 1100
Postal address: Private Bag X123, Claremont, 7735
Guardrisk shall at all times have the right to inspect all documents relating to the Policy and will communicate with HomeChoice, the Insured Persons, the Credit Provider or appointed executor regarding any problems with the documentation.
The Insured Person can contact HomeChoice at the address above if there is a complaint about the information or service received from HomeChoice.
If a complaint relating to advice is not resolved to your satisfaction by HomeChoice, the complaint may be submitted to the FAIS Ombudsman:
Postal address: PO Box 74571, Lynnwood Ridge 0040
Share call number: 0860 324 766
Telephone number: 012 470 9080
Fax number: 012 348 3447, Email: firstname.lastname@example.org
Complaints about the Policy may be submitted to Guardrisk: Guardrisk Life Limited,
Postal address: PO Box 786015, Sandton, 2146
Telephone number: 011 669 1000
If a complaint relating to any claim is not satisfactorily resolved by Guardrisk, the complaint may be submitted to the Ombudsman for Long-Term Insurance:
The Ombudsman for Long-Term Insurance,
Postal address Private Bag X45,
Telephone number: 021 657 5000
Fax number: 021 674 0951, Email: email@example.com
Registrar of Long Term Insurance Financial Sector Conduct Authority
P O BOX 35655, Menlo Park, 0102 Tel: (012) 428 8000
Fax: (012) 347 0221, Email: firstname.lastname@example.org
Matters of importance
You must accurately, fully and properly disclose all material facts. All information provided by you or on your behalf is your own responsibility. You need to be satisfied with the accuracy of any transaction submitted by anyone on your behalf.
You must not sign any incomplete or blank documents. No person may request or insist that you do so.
You will be informed of any material changes to the information about the intermediary, insurer or underwriter mentioned above.
If any of the information mentioned above was given orally, this document serves to provide you with the information in writing. Should you not be satisfied with the policy, you have 31 (thirty-one) days from receipt of this document to cancel the Policy in writing at no cost. Cover will cease upon cancellation of the Policy.
You will always be given a reason for the Repudiation of a Claim.
Failure to provide correct or full information may influence the Insurer on any Claims arising from this Policy.