Grocery Benefit

By TymeBank - 16 October, 2020

This benefit pays a monthly amount (cover amount) for a period of 3 months following the death of the main insured only.
The amount of money paid will be the same as the average spend at Pick n Pay across all of the main insured’s TymeBank cards over the 3 calendar months before his or her death.
This monthly benefit amount will be a minimum of 5% and a maximum of 10% of the Individual Funeral benefit amount as stated in the policy schedule.
A TymeBank card is any card that’s linked to an active TymeBank account owned by the main insured person which allows payments to be made using the card. The ID number of the main insured person must match the ID number of the TymeBank account holder.
If the main insured person does not have any active TymeBank accounts and still continues with the policy, the benefit will pay 3 monthly amounts each equal to the minimum benefit amount applicable at the time of the main insured person’s death.
This benefit is automatically added when the Individual Funeral Benefit is taken out at no additional cost.