Frequently Asked Questions

  • Insurance > LifeNet and LifeNet Platinum
    • Q: Do I need to be permanently employed to take up LifeNet?
      A:

      Yes. This means that at the time of taking up the cover, you must have been permanently employed for at least 3 (three) months immediately prior to the start date of the policy. Permanent employment does NOT include self-employment, probation periods and fixed term employment contracts. 

    • Q: What is Retrenchment?
      A:

      Retrenchment is when a company or organisation determines that it needs to reduce the number of people in its employ in order to match or meet operational requirements.

    • Q: Does LifeNet credit my TFG account if I am dismissed or quit my job?
      A:

      No, LifeNet will only credit your TFG account if you are retrenched. You will also not be covered if you accept voluntary retrenchment or resign.

    • Q: How many instalments will be credited to my TFG account?
      A:

      LifeNet will credit your TFG account with a maximum of three (3) consecutive R784 (R1 680 if the Lifenet Platinum option is selected) instalments. Once this three month period is over you will be liable for your TFG account instalments.

    • Q: Am I covered if I die?
      A:

      Yes, LifeNet and Lifenet Platinum cover you for both natural and accidental death.

    • Q: Are there any waiting periods?
      A:

      Yes, there is a three (3) month waiting period for the Retrenchment benefit and the Death benefit for natural death. This means that you will not be able to claim for the Retrenchment benefit or the Death benefit for natural death within the first 3 months of the policy’s starting date. There is no waiting period for the Death benefit for accidental death.

      Terms and conditions apply.

      *Foschini Retail Group (Pty) Ltd is an authorised financial services provider. Insurance is underwritten by Guardrisk Insurance Company Limited, an authorised financial services provider.