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Elements and Performance Criteria

Required Skills

Required skills

communication skills to

gather and check information

liaise and share information with others

communicate appropriately with people from diverse backgrounds

use computer applications word processing spreadsheet database specific purpose computer systems

access and update records electronically

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 product information

read and understand life insurance policies

read and interpret life insurance policy change requests

research and analysis skills to

identify and interpret relevant information

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 changing of life insurance policies

life insurance administrative requirements

life insurance policy terms and conditions

nature of life insurance policy liabilities

organisational procedures

organisational systems for data entry filing and document registrations

product information

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

maintain and apply a thorough and uptodate understanding of life insurance terms and conditions

maintain and apply a thorough and uptodate understanding of life insurance administrative requirements

apply analytical and administrative skills in the assessment and implementation of life insurance policy changes

perform tasks in accordance with relevant 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

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.

Policy request may include:	a request to add or remove a rider benefit a request to alter the sum insured a request to assign ownership of a policy a request to reduce the duration of a policy, for example whole of life or endowment policy a request to review a past underwriting decision, for example premium loading applied to a smoker’s policy.
For a request to be valid, it must be evident that:	client is authorised policy exists policy is current.
Non-routine policy requests may include:	requests outside client authority requests outside relevant guidelines unusual requests.
Appropriate authority may include:	supervisor manager other levels of management.
Assess request may include evaluating the:	acceptability of changes to the risks that the policy covers acceptability of changes to the potential policy liability compliance with organisational guidelines legality and ethics of complying with the request.
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:	Australian Securities and Investments Commission (ASIC) regulatory guides corporations legislation insurance contracts legislation life insurance legislation privacy legislation.
Outcomes may include:	accept request amend request defer request reject request.
Consequences may include:	changes in policy benefits changes in policy ownership changes in policy terms and conditions changes in premiums changes in term of cover.