Qualification Outline
Date retreived
22/07/2026 9:36 AM AWST
22/07/2026 9:36 AM AWST
Whilst all efforts are made to provide accurate and timely information from the relevant source/documentation, please be aware that the information supplied may not be the most current version. The accuracy of the detail has not been confirmed by the Department and therefore should not be relied upon without first confirming the contents.
Diploma of Life Insurance
Diploma of Life Insurance
Qualification
National Code:
FNS51312
FNS51312
State Code:
D776
D776
TGA Status:
Replaced
Replaced
DTWD Status:
Replaced
Replaced
National Endorsed, State Implementation and Classification
Field of Education
0811 - Banking, Finance And Related Fields
Original TGA Release Date
18/07/2013
Approved Date
29/07/2014
Stream of Study
Initial Vocational (3100 - 3600)
VET Act Classifier
C
Nominal Hours
695
Duration
2 Semesters
Current Release Number
2.00
Current Release Date
18/07/2013
VET Act Conditions
—
Releases
| Release Version | Release Date | TGA Status | DTWD Status |
|---|---|---|---|
| 2.00 | 18/07/2013 | Current | Approved |
Description
This qualification is designed to reflect team leadership, supervisory and advanced technical roles in life insurance in a range of organisations.
Schedule
Packaging Rules
Total number of units = 121 core units plus
11 elective units
The elective units consist of:
9 from the elective units listed below
of the remaining 2 units:
up to 2 may be from the elective units listed below
up to 2 may be from Certificate IV, Diploma or Advanced Diploma 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
FNSILF403A Develop and maintain in-depth knowledge of products and services used by the Life Insurance sector
Elective Units
FNSASICM503A Provide Tier 1 personal advice in life insurance
FNSASICX503A Provide advice in Life Insurance
FNSCMP501A Comply with financial services legislation
FNSCUS505A Determine client requirements and expectations
FNSCUS506A Record and implement client instructions
FNSINC501A Conduct product research to support recommendations
FNSIAD501A Provide appropriate services, advice and products to clients
FNSILD501A Prepare a distribution plan
FNSILD502A Resource a distribution plan
FNSILD503A Establish services to provide advice
FNSILD504A Implement and manage the distribution plan
FNSILF502A Underwrite complex medical life risks
FNSILF503A Underwrite complex non-medical risks
FNSILF504A Manage complex life insurance claims
FNSILF505A Manage ongoing disability claims
FNSILF506A Manage group life insurance claims
FNSILF507A Manage group life insurance policy administration
FNSINC501A Conduct product research to support recommendations
FNSISV406A Use specialist terminology in insurance claims
FNSISV407A Use medical terminology in an insurance context
FNSISV502A Review operational performance of the portfolio
FNSISV503A Undertake post-loss risk management
FNSISV504A Negotiate treaty reinsurance
FNSISV505A Determine risk rating for investment and insurance products
FNSISV506A Investigate claims
FNSISV509A Analyse financial, medical and psychological claims assessments
FNSISV512A Work with legal teams to resolve complex claims
FNSISV513A Provide decisions on legal liability and indemnity of a claim
FNSISV514A Review and update claim reserves in portfolio
FNSISV515A Evaluate and report on status of claims portfolio
FNSISV517A Review claims settlement policies and procedures
1. Core Unit
One (1) unit must be completed
| State Code | National Code | Title | Hours | Type |
|---|---|---|---|---|
| WC236 | FNSILF403A | Develop and maintain in-depth knowledge of products and services used by the Life Insurance sector | 50 | Unit of competency |
2. Elective Units
At least nine (9) and up to eleven (11) units to be chosen from the elective units listed.
Please refer to the packaging rules for the full details of available options.
Replaces
| State Code | National Code | Title | Type |
|---|---|---|---|
| S714 | FNS41510 | Certificate IV in Life Insurance | Qualification |
| S729 | FNS51310 | Diploma of Life Insurance | Qualification |
Replaced By
| State Code | National Code | Title | Type |
|---|---|---|---|
| AWB9 | FNS51315 | Diploma of Life Insurance | Qualification |
No information
Entry Requirements
There are no entry requirements for this qualification.
Traineeships and Apprenticeships