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Elements and Performance Criteria

Action application
Issue life insurance policy
Complete administration
- File completed life insurance policy documentation in accordance with procedures and regulatory requirements
- Process cancellations of life insurance policies occurring within cooling-off period in accordance with procedures, client instructions and regulatory requirements

Required Skills

Required skills

communication skills to

use questioning and active listening to gather and check information

liaise and share information with others

communicate appropriately with people from diverse backgrounds

numeracy skills to

interpret numeric data and relevant statistics and from this perform calculations related to achieving required outcomes

use computer applications word processing spreadsheet database specific purpose computer systems

access and update records electronically

access webbased information services

reading skills to

read and understand relevant procedures

read and interpret proposals and supporting documentation

writing skills to

accurately record information

prepare professional letters and emails

prepare life insurance proposals

organisational skills to efficiently plan and sequence work

problem solving skills to address errors in life insurance documentation

Required knowledge

life insurance terms and conditions

organisational procedures

organisational systems for data entry filing and document registration

product information

relevant regulatory requirements

underwriting instructions

Evidence Required

The evidence guide provides advice on assessment and must be read in conjunction with the performance criteria required skills and knowledge range statement and the Assessment Guidelines for the Training Package

Overview of assessment

Critical aspects for assessment and evidence required to demonstrate competency in this unit

Evidence of the ability to

accurately interpret and follow underwriting instructions

accurately enter information in systems

prepare life insurance policies

perform tasks in accordance with procedures and regulatory requirements

Context of and specific resources for assessment

Assessment must ensure

competency is demonstrated in the context of the work environment and conditions specified in the range statement either in a relevant workplace or a closely simulated work environment

access to and the use of a range of common office equipment technology software and consumables

access to records

access to organisational policies and procedures

Method of assessment

A range of assessment methods should be used to assess practical skills and knowledge The following examples are appropriate for this unit

evaluating an integrated activity which combines the elements of competency for the unit or a cluster of related units of competency

observing processes and procedures in workplaces

verbal or written questioning on underpinning knowledge and skills

evaluating samples of work

accessing and validating third party reports

setting and reviewing workplace projects and business simulations or scenarios

Guidance information for assessment

Range Statement

The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) may also be included.

Underwriting instructions may include:	accept at below standard cover accept at standard cover decline defer
Procedures may include:	complaints handling processes customer service charter guidelines general operational policies privacy and confidentiality guidelines
Relevant parties may include:	client adviser internal stakeholders
Relevant information may include:	premium rates underwriting instructions
Regulatory requirements may include:	Australian Securities and Investments Commission (ASIC) regulatory guides life insurance legislation privacy legislation
Dispatch methods may include:	courier electronic transfer facsimile personal collection postal system through adviser