Is any line of work acceptable?
We do not assess your line of work and our premiums are the same whether you are a driver, engineer, clerical or catering staff.
What is covered by the Plan?
The Sickness Plan will pay you a weekly sum if you are off sick for more than 7 days.
Will my premium go up after my Plan is set up?
Up to the age of 65 – Your premium will stay the same throughout the period of your Plan up to the age of 65 unless you decide to increase or decrease the cover you choose.
Beyond the age of 65 – If you extend your Sickness Plan from the age of 65 your premium will increase on this and each subsequent birthday.
Is the Plan flexible?
Our Sickness Plan is flexible so you can increase or decrease your level of cover at any time to suit you.
Is there a Qualifying Period?
The Plan must have been running for a minimum of 13 weeks before you are eligible to claim and no payment of Sickness benefit will be made for the first 7 days of sickness.
Are my benefits taxed?
No – your benefits are paid to you tax-free.
If I have to terminate the Plan can I start it again?
If you decide to terminate your Plan you can start it again within one year from the date you terminated it provided all overdue contributions are paid. You may also need to provide proof of your continued eligibility and proof that you are in good health. No claims for benefit may be made for sickness starting within the first 13 weeks after your Plan’s restart.
How long does it take before my Plan is effective?
The Plan will start once the application has been accepted and the first contribution has been paid.
How do I make a claim?
You can submit your claim online or download a claim form and send it by post. Click here and select the appropriate benefit you wish to claim.
Can I continue with my Policy if I change employment?
Yes, but you will need to let us know. Click here for Payroll Deduction mandate form or click here for Direct Debit Instruction form.
Do I need to tell you if I change my address?
Yes, so that we can continue to contact you in respect of your Policy. Click here to email us your new address.
How long can I keep my Sickness Plan for?
Your Plans will mature when you reach the age of 65.
Can I extend my Sickness Plan past the age of 65?
You may only apply to extend your Sickness Plan from age 65 up to the age of 70 if you stay in employment. You can find more information here.
IMPORTANT THINGS TO NOTE
- If you stop paying your contributions your benefits will stop.
- If you cancel your Plan within 30 days of your Plan starting, you will receive a full refund of any contributions paid. After 30 days you will not receive any money back.
- It is vital that you give accurate and truthful answers about your health at the time that you apply for the Plan as failure to do so may invalidate the Plan and we may decline cover and not pay a claim.
- The Society will not pay any sickness claim which occurs within the first 12 months of taking out the Policy which is caused by any pre-existing medical condition you may have.
After the proposal is accepted you will receive a Notice of your right to cancel. You will then have 30 days in which you can change your mind. If you cancel within this 30 day period you will receive a full refund of any contributions paid.
If the Plan is maintained in full force until death or maturity the benefits payable are currently free of all UK income and capital gains taxes. In addition, the fund in which contributions are invested is tax exempt and thus free from taxes on income and capital gains, with the exception of tax deducted from dividends on shares the Society invests in.
In any legal disputes, the law of England and Wales will apply.
If you have a complaint, feel you have been treated unfairly or are not satisfied with any aspect of the Society, its products or services please contact us at the address below. If the complaint is not dealt with to your satisfaction you can refer your complaint to the Financial Ombudsman Service, Exchange Tower, London E14 9SR (Telephone 0800 023 4567). Following this complaint procedure does not affect your rights to take legal action.
If the Transport Friendly Society is unable to meet its liabilities, compensation may be payable by the Financial Services Compensation Scheme. Further information on the scheme is available from the Financial Services Compensation Scheme on 020 7892 7300 or at www.fscs.org.uk
The TFS is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Registered and incorporated under the Friendly Societies Act 1992, register number 434F.
When you take out a Plan with TFS you become a Member of the Society and are subject to its rules, a copy of which is available on request.
Transport Friendly Society Limited
3rd Floor, Derbyshire House
St Chad’s Street
T: 020 7833 2616
F: 020 7833 4426
These notes are based on the Society’s understanding of current law and Inland Revenue practice, which may be subject to change and provide a guide to the key features of the product. Full details are contained in the Policy Schedule and Terms and Conditions. This Plan is a legally binding contract between you and the Transport Friendly Society Limited.