^

 
 

Qualification details

FNS41512 - Certificate IV in Life Insurance (Release 2)

Summary

Usage recommendation:
Superseded
Mapping:
MappingNotesDate
Supersedes FNS41510 - Certificate IV in Life InsuranceReplaces FNS41510 Certificate IV in Life Insurance. Core has been restructured to more accurately reflect workplace requirements; elective pool has been recast with the introduction of 8 specialist life insurance units - OUTCOMES DEEMED NOT EQUIVALENT. 06/Mar/2012
Is superseded by and equivalent to FNS41515 - Certificate IV in Life InsuranceUpdated to meet Standards for Training Packages 24/Mar/2015

Release Status:
Current
Releases:
ReleaseRelease date
2 (this release) 18/Jul/2013
(View details for release 1) 07/Mar/2012

Training packages that include this qualification

Units of competency

CodeSort Table listing Units of Competency by the Code columnTitleSort Table listing Units of Competency by the Title columnEssentialSort Table listing Units of Competency by the Essential column
BSBCMM301B - Process customer complaintsProcess customer complaints Elective
FNSCMP501A - Comply with financial services legislationComply with financial services legislation N/A
FNSCUS301A - Respond to customer enquiriesRespond to customer enquiries N/A
FNSCUS402A - Resolve disputesResolve disputes N/A
FNSCUS403A - Deliver a professional service to customersDeliver a professional service to customers N/A
FNSILF302A - Process a life insurance applicationProcess a life insurance application N/A
FNSILF303A - Issue a life insurance policyIssue a life insurance policy N/A
FNSILF401A - Contribute to the life risk underwriting processContribute to the life risk underwriting process N/A
FNSILF403A - Develop and maintain in-depth knowledge of products and services used by the Life Insurance sectorDevelop and maintain in-depth knowledge of products and services used by the Life Insurance sector N/A
FNSILF404A - Process requests for policy alterations and assignmentsProcess requests for policy alterations and assignments N/A
Items per page 10 | 20 | 50 | 100
Displaying items 1 - 10 of 17

Classifications

SchemeCodeClassification value
ANZSCO Identifier 222112 Finance Broker 
ASCO (occupation type) Identifier 3212-19 Insurance Broker 
ASCED Qualification/Course Field of Education Identifier 0811 Banking, Finance And Related Fields 
Qualification/Course Level of Education Identifier 511 Certificate IV 
Taxonomy - Industry Sector N/A Insurance 
Taxonomy - Occupation N/A Health and Life Insurance Officer 

Classification history

SchemeCodeClassification valueStart dateEnd date
ANZSCO Identifier 222112 Finance Broker 02/Oct/2012 
ASCO (occupation type) Identifier 3212-19 Insurance Broker 02/Oct/2012 
ASCED Qualification/Course Field of Education Identifier 0811 Banking, Finance And Related Fields 02/Oct/2012 
Qualification/Course Level of Education Identifier 511 Certificate IV 07/Mar/2012 
The content being displayed has been produced by a third party, while all attempts have been made to make this content as accessible as possible it cannot be guaranteed. If you are encountering issues following the content on this page please consider downloading the content in its original form

Modification History

Release 

Comments 

Release 2

This version released with FNS10 Financial Services Training Package version 5.0.

Update imported units:
BSBCMM301A to BSBCMM301B.

Qualification outcomes remain unchanged.

Release 1

This Qualification first released with FNS10 Financial Services Training Package version 3.0.

Replaces FNS41510 Certificate IV in Life Insurance.

Description

This qualification is designed to reflect the role of persons carrying out work in life insurance in a range in a range of organisations.

Pathways Information

Pathways into the qualification 

Preferred pathways for candidates entering this qualification include:

  • Workplace experience, or
  • Certificate III in Financial Services

Pathways from the qualification 

Candidates may choose Diploma of Life Insurance as a learning pathway from this qualification, or one of the alternate specialist qualifications that would support career progression.

Licensing/Regulatory Information

There is no direct link between this qualification and licensing, legislative and/or regulatory requirements. However, where required, a unit of competency will specify relevant licensing, legislative and/or regulatory requirements that impact on the unit.

Entry Requirements

There are no entry requirements for this qualification.

Employability Skills Summary

The following table contains a summary of the Employability Skills required by industry for this qualification. The Employability Skills facets described here are broad industry requirements that may vary depending on qualification packaging options.

Employability Skill 

Industry/enterprise requirements for this qualification include: 

Communication

  • communicating ideas and information cognisant of clients' social and cultural diversity and special needs
  • consulting and negotiating with internal and external stakeholders
  • consulting, questioning, clarifying and evaluating information
  • demonstrating selling skills including matching needs with products/services
  • interpreting customer needs
  • investigating and negotiating to resolve disputes within area of responsibility
  • possessing sound presentation skills with an ability to 'read' verbal and non-verbal body language
  • using a range of techniques to elicit feedback from customers
  • using specialist language in written and oral communication
  • using well-developed interpersonal skills and having the ability to produce a wide range of reports and make presentations as required
  • writing in a range of styles to suit different audiences

Teamwork

  • coaching and mentoring staff to reach minimum customer service standards
  • developing a rapport with clients when identifying their needs, objectives and financial situation
  • developing team plans and contributing to team cohesion
  • making constructive contributions to group decision making processes
  • providing feedback to team members

Problem-solving

  • conducting needs analyses
  • estimating, forecasting and conducting competitive comparisons
  • performing calculations and developing a risk investment profile for individual clients
  • resolving poor performance issues within scope of responsibility
  • working proactively with management to resolve workplace issues

Initiative and enterprise

  • being creative and providing innovative solutions to complex issues
  • responding to new and changing circumstances to ensure accurate and timely advice

Planning and organising

  • evaluating and authorising payment requests
  • maintaining accounts records for compliance purposes
  • preparing financial reports
  • recording, gathering and classifying information

Self-management

  • acting as a role model for others
  • taking to management concerns with own level of responsibility
  • working ethically and complying with all industry codes of practice and legislative requirements

Learning

  • applying learning to develop improved practices
  • coaching and mentoring others to acquire new knowledge and skills
  • contributing to the learning of others through implementing team building exercises
  • developing and maintaining professional competency

Technology

  • selecting and using technology and software packages to record, track and retrieve information
  • using electronic communication devices and processes (e.g. internet, fact finder, email) to produce written correspondence, charts, diagrams, schedules and reports

Packaging Rules

Total number of units = 13 

2 core units  plus

11 elective  units

The elective units consist of:

  • 8 from the elective units listed below

of the remaining 3 units:

  • up to 3 may be from the elective units listed below
  • up to 3 may be from a Certificate III, IV or Diploma qualification in any currently endorsed Training Package or accredited course.

The elective units chosen must be relevant to the work outcome and meet local industry needs.

Core Units 

FNSINC301A Work effectively in the financial services industry

FNSILF403A Develop and maintain in-depth knowledge of products and services used by the life insurance sector

Elective Units 

FNSCMP501A Comply with financial services legislation

FNSCUS301A Respond to customer enquiries

FNSCUS402A Resolve disputes

FNSCUS403A Deliver a professional service to customers

FNSILF302A Process a life insurance application

FNSILF303A Issue a life insurance policy

FNSILF401A Contribute to the life risk underwriting process

FNSILF404A Process policy alterations and assignments

FNSILF405A Receive and evaluate life insurance claims

FNSILF406A Collect and manage information to facilitate claims assessment

FNSILF407A Settle life insurance claims

FNSILF408A Process life insurance maturity and surrender payments

FNSISV406A Use specialist terminology in insurance claims

FNSISV407A Use medical terminology in an insurance context

BSBCMM301B Process customer complaints