Release 

Comments 

Release 1

This version first released with FNS Financial Services Training Package Version 1.0.

ELEMENT 

PERFORMANCE CRITERIA 

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Action application

1.1 Receive and review application to identify underwriting instructions

1.2 Take action according to procedures and underwriting instructions

1.3 Communicate declined or deferred underwriting instructions to relevant parties

2. Issue life insurance policy

2.1 Collect relevant information to enable preparation of life insurance policy

2.2 Document life insurance policy with terms and conditions that accurately reflect underwriting instructions

2.3 Check that life insurance policy meets procedures and regulatory requirements

2.4 Select and apply dispatch method in accordance with procedures and customer request

3. Complete administration

3.1 File completed life insurance policy documentation in accordance with procedures and regulatory requirements

3.2 Process cancellations of life insurance policies occurring within cooling-off period in accordance with procedures, customer instructions and regulatory requirements

Skill 

Performance Criteria 

Description 

Reading

1.1, 2.1, 2.3

• Gathers, analyses and interprets simple to complex information from a range of sources and identifies relevant information

Writing

1.3, 2.1, 2.2

• Records key information relevant to requirements using appropriate text and correct spelling
• Produces texts of varying complexity using appropriate language and grammar in logical sequence to convey information effectively

Oral Communication

1.3, 2.1

• Uses appropriate language, terminology and concepts when participating in verbal exchanges
• Uses active listening and questioning techniques to clarify information and confirm understanding of requirements

Numeracy

2.1

• Interprets numeric data and relevant statistics, and performs calculations related to achieving required outcomes

Navigate the world of work

1.2, 2.3, 2.4, 3.1, 3.2

• Follows legislative requirements and organisational policy and procedures relevant to own role

Interact with others

1.3, 2.1

• Follows accepted communication practices and protocols, adjusting personal communication style in response to the values, beliefs and cultural expectations of others

Get the work done

1.2, 2.1, 2.4, 3.1, 3.2

• Plans, organises and implements routine tasks, aiming to achieve them efficiently
• Responds to predictable routine problems and implements standard or logical solutions
• Uses the main features and functions of digital tools to complete work tasks

Code and title 

current version 

Code and title 

previous version 

Comments 

Equivalence status 

FNSILF303 Issue a life insurance policy

FNSILF303A Issue a life insurance policy

Updated to meet Standards for Training Packages

Equivalent unit

Release 

Comments 

Release 1

This version first released with FNS Financial Services Training Package Version 1.0.