Unit of competency Outline

Date retreived
22/07/2026 11:17 PM AWST

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Provide Tier 1 general advice in general insurance

Provide Tier 1 general advice in general insurance

Unit of competency
National Code
FNSASICO503
State Code
AUQ42
TGA Status
Deleted
DTWD Status
Deleted
Current Release Number
1.00
Current Release Date
25/03/2015
View on TGA
State Implementation and Classification
Approved Date
16/09/2015
Field of Education
081103 - Insurance And Actuarial Studies
Original Release Date
16/09/2015
Nominal Hours
45
Description
This unit describes the skills and knowledge required to analyse a client’s general insurance needs for current Australian Securities and Investments Commission (ASIC) regulation (Financial Services Reform Act) at Tier 1 (Diploma) level in the insurance specialist and generic knowledge areas.It applies to individuals who have specialist product knowledge (especially relating to personal sickness and accident insurance) and strong interpersonal skills and are expert communicators. In this role, excellent customer service skills relating to the provision of advice to clients is essential. Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Refer to the FNS Implementation Guide Companion Volume or the relevant regulator for specific guidance on requirements.
Notes
Elements and Performance Criteria
1. Deal with initial client enquiry for general insurance
  • 1.1 Ensure client enquiries are attended to in timely and courteous manner
  • 1.2 Demonstrate active listening skills when dealing with client enquiries and provide help and assistance to ensure full and accurate completion of initial documentation where required
  • 1.3 Communicate clearly and unambiguously with client to determine and clarify product of interest to client
  • 1.4 Analyse range of products of interest to client to determine categorisation as areas of general advice in line with legislation and organisational policy
  • 1.5 Ensure clients are informed that general advice will be provided to them in relation to products of interest, and that only personal information for underwriting and calculating cost of product will be sought
  • 1.6 Ensure that client is referred to appropriate specialist personnel where required advice is deemed to fall outside category of general advice
2. Prepare general advice to client
  • 2.1 Provide correct disclosure documentation in accordance with legislation and organisational policy
  • 2.2 Provide general advice warning to client in line with legislative and organisational policy
  • 2.3 Consider special communication needs of client when delivering general advice warning
3. Provide general advice
  • 3.1 Provide product advice to client in clear and unambiguous way, avoiding jargon, in language appropriate to receiver and using organisational tools
  • 3.2 Demonstrate appropriate product and industry knowledge when providing advice to client
  • 3.3 Explain and discuss product advice with client using language that avoids giving impression adviser has considered client’s personal circumstances in providing advice
  • 3.4 Ask client to consider appropriateness of advice in light of own circumstances
  • 3.5 Advise client to read product disclosure statement before making decision
No information
No information
Replaces
State Code National Code Title Type
D4216 FNSASICO503A Provide Tier 1 general advice in general insurance Unit of competency
State Code National Code Title Type
AWE4 FNS51115 Diploma of General Insurance Qualification
BFX4 FNS51120 Diploma of General Insurance Qualification