This unit describes the skills and knowledge required to process new applications for life insurance.

It applies to individuals whose job roles may require them to gather, enter, record and validate the information in insurance proposals and apply relevant policies and procedures to achieve the required outcomes.

Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Refer to the FNS Implementation Guide Companion Volume or the relevant regulator for specific guidance on requirements.

You may want to include more information here about the target group and the purpose of the assessments (eg formative, summative, recognition)

List the assessment methods to be used and the context and resources required for assessment. Copy and paste the relevant sections from the evidence guide below and then re-write these in plain English.

ELEMENT	PERFORMANCE CRITERIA
Elements describe the essential outcomes.	Performance criteria describe the performance needed to demonstrate achievement of the element.
1. Receive applications	1.1 Receive new life insurance applications and compile necessary documentation 1.2 Check that documentation is correct and complete in accordance with organisational procedures and regulatory requirements 1.3 Gather further information from appropriate information sources as necessary 1.4 Enter application data in appropriate systems and verify data input accuracy
2. Process applications	2.1 Establish delegation authority in accordance with organisational procedures and refer application to appropriate authority as necessary 2.2 Consult with internal stakeholders about processing issues or concerns, as appropriate 2.3 Process application, once information is verified, in accordance with organisational procedures and regulatory requirements 2.4 Communicate result to all relevant parties in accordance with procedures and regulatory requirements 2.5 Update records and file documentation in accordance with procedures and regulatory requirements

Evidence of the ability to:

check documentation and review new insurance applications within delegation authority

process applications correctly and in accordance with organisational procedures.

Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.

To complete the unit requirements safely and effectively, the individual must:

define life insurance terms and conditions

outline organisational procedures in line with life insurance requirements

explain organisational systems for data entry, filing and document registration

explain life insurance product information

identify relevant regulatory requirements for life insurance

explain when to escalate issues to the next level of authority.

Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the life insurance field of work and include access to:

office equipment, technology, software and consumables

organisational records, policy and procedures.

Assessors must satisfy NVR/AQTF assessor requirements.

List each assessment task's title, type (eg project, observation/demonstration, essay, assingnment, checklist) and due date here

Assessment task 1: [title]      Due date:

(add new lines for each of the assessment tasks)

Copy and paste from the following data to produce each assessment task. Write these in plain English and spell out how, when and where the task is to be carried out, under what conditions, and what resources are needed. Include guidelines about how well the candidate has to perform a task for it to be judged satisfactory.

ELEMENT	PERFORMANCE CRITERIA
Elements describe the essential outcomes.	Performance criteria describe the performance needed to demonstrate achievement of the element.
1. Receive applications	1.1 Receive new life insurance applications and compile necessary documentation 1.2 Check that documentation is correct and complete in accordance with organisational procedures and regulatory requirements 1.3 Gather further information from appropriate information sources as necessary 1.4 Enter application data in appropriate systems and verify data input accuracy
2. Process applications	2.1 Establish delegation authority in accordance with organisational procedures and refer application to appropriate authority as necessary 2.2 Consult with internal stakeholders about processing issues or concerns, as appropriate 2.3 Process application, once information is verified, in accordance with organisational procedures and regulatory requirements 2.4 Communicate result to all relevant parties in accordance with procedures and regulatory requirements 2.5 Update records and file documentation in accordance with procedures and regulatory requirements

Evidence of the ability to:

check documentation and review new insurance applications within delegation authority

process applications correctly and in accordance with organisational procedures.

Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.

To complete the unit requirements safely and effectively, the individual must:

define life insurance terms and conditions

outline organisational procedures in line with life insurance requirements

explain organisational systems for data entry, filing and document registration

explain life insurance product information

identify relevant regulatory requirements for life insurance

explain when to escalate issues to the next level of authority.

Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the life insurance field of work and include access to:

office equipment, technology, software and consumables

organisational records, policy and procedures.

Assessors must satisfy NVR/AQTF assessor requirements.

Copy and paste from the following performance criteria to create an observation checklist for each task. When you have finished writing your assessment tool every one of these must have been addressed, preferably several times in a variety of contexts. To ensure this occurs download the assessment matrix for the unit; enter each assessment task as a column header and place check marks against each performance criteria that task addresses.

Observation Checklist

Tasks to be observed according to workplace/college/TAFE policy and procedures, relevant legislation and Codes of Practice	Yes	No	Comments/feedback
Receive new life insurance applications and compile necessary documentation
Check that documentation is correct and complete in accordance with organisational procedures and regulatory requirements
Gather further information from appropriate information sources as necessary
Enter application data in appropriate systems and verify data input accuracy
Establish delegation authority in accordance with organisational procedures and refer application to appropriate authority as necessary
Consult with internal stakeholders about processing issues or concerns, as appropriate
Process application, once information is verified, in accordance with organisational procedures and regulatory requirements
Communicate result to all relevant parties in accordance with procedures and regulatory requirements
Update records and file documentation in accordance with procedures and regulatory requirements

Assessment Cover Sheet

FNSILF302 - Process a life insurance application

Assessment task 1: [title]

Student name:

Student ID:

I declare that the assessment tasks submitted for this unit are my own work.

Student signature:

Result: Competent Not yet competent

Feedback to student

 

 

 

 

 

 

 

 

Assessor name:

Signature:

Date:

Assessment Record Sheet

FNSILF302 - Process a life insurance application

Student name:

Student ID:

Assessment task 1: [title] Result: Competent Not yet competent

(add lines for each task)

Feedback to student:

 

 

 

 

 

 

 

 

Overall assessment result: Competent Not yet competent

Assessor name:

Signature:

Date:

Student signature:

Date: