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Follow the links below to find material targeted to the unit's elements, performance criteria, required skills and knowledge

Elements and Performance Criteria

1. Identify medical risks
   • Review applications and associated documentation to identify relevant medical information
   • Interpret medical information to identify medical risk factors
   • Review need for additional medical information and collect as appropriate
2. Identify underwriting significance
   • Identify potential life risk implications of supplied medical information according to organisational requirements
   • Determine interrelationships between medical conditions and identify medical risk factor implications
   • Identify long-term risk implications of medical treatment and recovery processes
   • Select and apply appropriate medical risk rating systems and risk handling techniques
3. Determine risk acceptance criteria
   • Identify risk acceptance criteria to suit type and context of risk in accordance with procedures
   • Assess adequacy of medical information against risk acceptance criteria in accordance with procedures
   • Consult with relevant personnel within organisation where clarification is sought on adequacy of medical information provided
4. Prepare life insurance policy
   • Develop terms of acceptance in accordance with market conditions and accepted levels of exposure
   • Document life insurance policy with terms and conditions in accordance with procedures and regulatory requirements

Performance Evidence

Evidence of the ability to:

prepare and document a life insurance policy that involves complex medical risk covering:

identification of medical risk factors, and application of appropriate medical risks rating systems and techniques for underwriting the risk

terms and conditions relevant to underwriting complex medical risks.

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

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Knowledge Evidence

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

explain life insurance policy terms and conditions

explain life insurance risk management practices

describe relevant medical techniques, diseases, injuries and terminology relative to insurance underwriting

list types of medical risk and the implications for underwriting medical risks

identify relevant standards or codes to be complied with

identify relevant actuarial, underwriting and medical information relevant to underwriting complex medical risks

outline the key administrative requirements and relevant organisational procedures in underwriting complex medical risks

outline medical risk ratings systems and appropriate risk handling techniques to mitigate risk

outline risk acceptance criteria for different types and contexts of complex medical risks.

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