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.
Required skills
communication skills to:
gather and check information
liaise and share information with others
communicate appropriately with people from diverse backgrounds
IT skills to:
use computer applications (word processing, spreadsheet, database, specific purpose computer systems)
access and update records electronically
access web-based information services
numeracy skills to:
interpret numeric data and relevant statistics
calculate life insurance payments
organisational skills to efficiently plan and sequence work
problem solving skills to address errors in life insurance documentation
reading skills to:
read and understand relevant procedures
read and understand life insurance policies
read and interpret life insurance claims and supporting documentation
research and analysis skills to:
identify and interpret relevant information
analyse information and data
maintain currency of products and services knowledge
writing skills to:
accurately record information
prepare professional letters and emails.
Required knowledge
the ability to apply and explain as relevant to the settlement of life insurance claims:
life insurance administrative requirements
life insurance policy payment criteria
life insurance policy terms and conditions
organisational procedures
organisational systems for data entry and filing
product information
relevant regulatory requirements.
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.
Relevant life insurance contract may include: | annuities endowment policies investment account contracts investment-linked contracts whole of life policies. |
Valid must include: | policy exists policy is current claimant is authorised to deal with the policy. |
Consequences may include: | lump sum payment loss of future benefits loss of linked insurance cover. |
Alternatives to surrender may include: | loan against policy rollover partial surrender non surrender. |
Entitlements may include: | sums based on: cancellation commutation (for annuities and other income streams) maturity surrender retirement rollover satisfying another condition of release. |
Evidence may include: | proof of title proof of survival proof of age. |
Terms and conditions may include: | policy term policy exclusions. |
Procedures may include: | organisational complaints handling processes organisational customer service charter organisational guidelines organisational policy organisational privacy and confidentiality guidelines organisational procedures. |
Regulatory requirements may include: | life insurance legislation corporations legislation privacy legislation Australian Securities and Investments Commission (ASIC) regulatory guides. |
Appropriate systems may include: | policy administration systems document management systems. |
Relevant stakeholders may include: | internal parties administrators trustees underwriters claimant and associated parties advisers assignees beneficiaries executors lawyers life insured next of kin policy owners. |
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