Assessor Resource

FNSILF302A
Process a life insurance application

Assessment tool

Version 1.0
Issue Date: May 2024


This unit applies to job roles in the life insurance sector and may be applied within organisations of various sizes and across a range of customer bases.

This unit describes the performance outcomes, skills and knowledge required to process new applications for life insurance. It encompasses checking the proposal, gathering information, entering information and recording details. Regulatory requirements apply to this unit.

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

Prerequisites

Not applicable.


Employability Skills

This unit contains employability skills.




Evidence Required

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.

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:

correctly process applications

apply procedures and comply with 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


Submission 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)


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.

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

IT skills to:

use computer applications (word processing, spreadsheet, database, specific purpose computer systems)

access and update records electronically

access web-based information services

reading skills to:

read and understand relevant procedures

read and interpret applications and supporting documentation

writing skills to:

accurately record information

prepare professional letters and emails

organisational skills to efficiently plan and sequence work

problem solving skills to address inaccuracies and omissions in applications

analytical skills to effectively analyse information and data.

Required knowledge

life insurance terms and conditions

organisational procedures

organisational systems for data entry, filing and document registration

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.

Documentationmay include:

birth records

health records

marriage records

other records required for application

product disclosure statement (PDS)

product documentation

Information sourcesmay include:

adviser

client or client agent

government records

law enforcement agencies

medical or related professionals

Appropriate systemsmay include:

document management system

policy administration system

Appropriate authority may include:

manager

other levels of management

supervisor

Internal stakeholders may include:

chief medical officers

claims departments

new business team

other relevant business teams

senior underwriters

underwriters

Procedures may include:

complaints handling processes

customer service charter

guidelines

general operational policies

privacy and confidentiality guidelines

Relevant partiesmay include:

adviser

client

internal stakeholders

Regulatory requirements may include:

Australian Securities and Investments Commission (ASIC) regulatory guides

life insurance legislation

privacy legislation

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 
Gather further information from appropriate information sources as necessary 
Enter application data in appropriate systems and verify data input accuracy 
Determine authority to act and refer application to appropriate authority as necessary 
Consult with internal stakeholders, as appropriate 
When acceptable, process the application 
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 

Forms

Assessment Cover Sheet

FNSILF302A - 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

FNSILF302A - 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: