Modification History
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Release |
Comments |
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Release 1 |
This version first released with FNS Financial Services Training Package Version 7.0. Supersedes and is not equivalent to FNS41515 Certificate IV in Life Insurance. The qualification has been updated to reflect the need for workers in the life insurance industry to understand and apply professional practices and codes and standards of ethical practice. Packaging rules changed. FNSILF404 Process requests for policy alterations and assignments has been removed from the qualification’s elective list. |
Qualification Description
This qualification reflects the role of entry level life insurance consultants, who work in a range of practice environments. Individuals in these roles often work in teams and apply specialist knowledge and skills to work autonomously and exercise judgement in completing routine and non-routine activities relating to customer service and processing life insurance policies and claims. They apply solutions to a defined range of life insurance problems and analyse and evaluate information from a variety of sources.
Licensing, legislative, regulatory or certification considerations
Work functions in the occupational areas where this qualification is used may be subject to regulatory requirements. Relevant regulatory authorities should be consulted to confirm those requirements before applying the qualification.
Entry Requirements
Nil
Packaging Rules
Total number of units = 10
4 core units plus
6 elective units , of which:
- at least 3 must be from the elective units listed below
- the remaining units may be from this qualification or from any currently endorsed Certificate III or above training package qualification or accredited course.
Elective units must be relevant to the work environment and the qualification, maintain the overall integrity of the AQF alignment, not duplicate the outcome of another unit chosen for the qualification, and contribute to a valid industry-supported vocational outcome.
Core units
FNSILF409 Work effectively and sustainably in the life insurance industry
FNSILF413 Develop and maintain in-depth knowledge of life insurance products and services
FNSINC411 Conduct work according to professional practices in the financial services industry
FNSINC413X Apply codes and standards of ethical practice to own role
Elective units
BSBOPS305 Process customer complaints
FNSCUS402 Resolve disputes
FNSCUS403 Deliver a professional service to customers
FNSILF410 Underwrite financial risk in life insurance policies
FNSILF411 Undertake the life risk underwriting process
FNSILF412 Underwrite retrospective risk in life insurance policies
FNSILF415 Evaluate life insurance claims
FNSILF416 Manage information for claims assessments
FNSILF417 Settle life insurance claims
FNSILF512 Underwrite complex risks
FNSISV416 Use specialist terminology in insurance claims
FNSISV417 Use medical terminology in an insurance context
FNSISV418 Manage insurance claims portfolios
Qualification Mapping Information
No equivalent qualification. Supersedes and is not equivalent to FNS41515 Certificate IV in Life Insurance.
Links
Companion Volume Implementation Guide is found on VETNet - - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=c7200cc8-0566-4f04-b76f-e89fd6f102fe
