Assessment Requirements for FNSILF404 Process requests for policy alterations and assignments

Release: 1

Assessment Requirements for FNSILF404 Process requests for policy alterations and assignments

Modification History

Release	Comments
Release 1	This version first released with FNS Financial Services Training Package Version 1.0.

Performance Evidence

Evidence of the ability to:

apply analytical and administrative skills in the assessment and implementation of life insurance policy changes

perform tasks in accordance with relevant procedures and regulatory requirements

identify non-routine policy requests and escalate to the appropriate authority.

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

Knowledge Evidence

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

explain life insurance policy terms and conditions

explain the nature of life insurance policy liabilities

outline key features of administrative requirements and organisational procedures relevant to policy alterations and assignments

explain organisational systems for data entry, filing and document registrations

describe the possible consequences of changes to policy

outline key features of relevant life insurance product information.

Assessment Conditions

Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the life insurance field of work and include access to:

office equipment, technology, software and consumables

organisational records, policy and procedures.

Assessors must satisfy NVR/AQTF assessor requirements.

Links

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