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.
Not applicable.
1. Receive applications | 1.1 Receive new life insurance applications and compile necessary documentation 1.2 Check that documentation is correct and complete 1.3 Gather further information from appropriate information sources as necessary 1.4 Enter application data in appropriate systems and verify data input accuracy |
2. Process applications | 2.1 Determine authority to act and refer application to appropriate authority as necessary 2.2 Consult with internal stakeholders, as appropriate 2.3 When acceptable, process the application 2.4 Communicate result to all relevant parties in accordance with procedures and regulatory requirements 2.5 Update records and file documentation in accordance with procedures and regulatory requirements |
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 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 |
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.
Documentation | birth records health records marriage records other records required for application product disclosure statement (PDS) product documentation |
Information sources | adviser client or client agent government records law enforcement agencies medical or related professionals |
Appropriate systems | 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 parties | adviser client internal stakeholders |
Regulatory requirements may include: | Australian Securities and Investments Commission (ASIC) regulatory guides life insurance legislation privacy legislation |
Life insurance
This unit contains employability skills.
Not applicable.