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Qualification details

FNS41515 - Certificate IV in Life Insurance (Release 2)

Summary

Usage recommendation:
Current
Mapping:
MappingNotesDate
Supersedes and is equivalent to FNS41512 - Certificate IV in Life InsuranceUpdated to meet Standards for Training Packages 24/Mar/2015

Release Status:
Replaced
Releases:
ReleaseRelease date
(View details for release 3) 06/Sep/2018
2 (this release) 22/Apr/2015
(View details for release 1) 25/Mar/2015


Training packages that include this qualification

Replaced release

You are currently viewing the components related to release 2.
The current release is release 3View release 3 details.

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
BSBCMM301 - Process customer complaintsProcess customer complaints Elective
FNSCMP501 - Comply with financial services legislationComply with financial services legislation Elective
FNSCUS301 - Respond to customer enquiriesRespond to customer enquiries Elective
FNSCUS402 - Resolve disputesResolve disputes Elective
FNSCUS403 - Deliver a professional service to customersDeliver a professional service to customers Elective
FNSILF302 - Process a life insurance applicationProcess a life insurance application Elective
FNSILF303 - Issue a life insurance policyIssue a life insurance policy Elective
FNSILF401 - Contribute to the life risk underwriting processContribute to the life risk underwriting process Elective
FNSILF403 - 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 Core
FNSILF404 - Process requests for policy alterations and assignmentsProcess requests for policy alterations and assignments Elective
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Classifications

SchemeCodeClassification value
ANZSCO Identifier 552312 Insurance Consultant 
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 552312 Insurance Consultant 30/Jul/2015 
ASCED Qualification/Course Field of Education Identifier 0811 Banking, Finance And Related Fields 30/Jul/2015 
Qualification/Course Level of Education Identifier 511 Certificate IV 25/Mar/2015 
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Modification History

Release 

Comments 

Release 2

This version released with FNS Financial Services Training Package version 1.1

Release 2 created to correct typographical error

Release 1

This qualification first released with FNS Financial Services Training Package version 1.0

Qualification Description

This qualification is designed to reflect the role of persons carrying out work in life insurance in a range of environments including as a team member in a large organisation or a small practice. Individuals in these roles apply specialist knowledge and skills to work autonomously and exercise judgement in completing routine and non-routine activities relating to customer service and assistance with policies and claims. They apply solutions to a defined range of life insurance problems, and analyse and evaluate information from a variety of relevant sources

Licensing/Regulatory Information

No licensing or certification requirements apply to this qualification at the time of publication. However, some units will specify relevant licensing, legislative and/or regulatory requirements that impact on the unit. Refer to the FNS Implementation Guide Companion Volume for guidance on requirements.

Entry Requirements

Nil.

Packaging Rules

Total number of units = 13 

2 core units  plus

11 elective  units

The elective units consist of:

  • 8 from the electives below.

Of the remaining 3 units:

  • up to 3 may be from the electives
  • up to 3 may be from a Certificate III, Certificate IV or Diploma in any endorsed training package or accredited course.

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

Core Units  

FNSINC301 Work effectively in the financial services industry

FNSILF403 Develop and maintain in-depth knowledge of products and services used by the life insurance sector

Elective Units 

BSBCMM301 Process customer complaints

FNSCMP501 Comply with financial services legislation

FNSCUS301 Respond to customer enquiries

FNSCUS402 Resolve disputes

FNSCUS403 Deliver a professional service to customers

FNSILF302 Process a life insurance application

FNSILF303 Issue a life insurance policy

FNSILF401 Contribute to the life risk underwriting process

FNSILF404 Process policy alterations and assignments

FNSILF405 Receive and evaluate life insurance claims

FNSILF406 Collect and manage information to facilitate claims assessment

FNSILF407 Settle life insurance claims

FNSILF408 Process life insurance maturity and surrender payments

FNSISV406 Use specialist terminology in insurance claims

FNSISV407 Use medical terminology in an insurance context

Qualification Mapping Information

Code and title  

current version 

Code and title 

previous version 

Comments 

Equivalence status 

FNS41515 Certificate IV in Life Insurance

FNS41512 Certificate IV in Life Insurance

Updated to meet Standards for Training Packages

Equivalent qualification

Links

Companion Volume implementation guides are found in VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=c7200cc8-0566-4f04-b76f-e89fd6f102fe