Elements and Performance Criteria

The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) may also be included.

Policy request may include:
a request to add or remove a rider benefit
a request to alter the sum insured
a request to assign ownership of a policy
a request to reduce the duration of a policy, for example whole of life or endowment policy
a request to review a past underwriting decision, for example premium loading applied to a smoker’s policy.
For a request to be valid, it must be evident that:
client is authorised
policy exists
policy is current.
Non-routine policy requests may include:
requests outside client authority
requests outside relevant guidelines
unusual requests.
Appropriate authority may include:
supervisor
manager
other levels of management.
Assess request may include evaluating the:
acceptability of changes to the risks that the policy covers
acceptability of changes to the potential policy liability
compliance with organisational guidelines
legality and ethics of complying with the request.
Procedures may include:
organisational complaints handling processes
organisational customer service charter
organisational guidelines
organisational policy
organisational privacy and confidentiality guidelines
organisational procedures.
Regulatory requirements may include:
Australian Securities and Investments Commission (ASIC) regulatory guides
corporations legislation
insurance contracts legislation
life insurance legislation
privacy legislation.
Outcomes may include:
accept request
amend request
defer request
reject request.
Consequences may include:
changes in policy benefits
changes in policy ownership
changes in policy terms and conditions
changes in premiums
changes in term of cover.

The evidence guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, range statement and the Assessment Guidelines for the Training Package.

Overview of assessment

Critical aspects for assessment and evidence required to demonstrate competency in this unit
Evidence of the ability to:
maintain and apply a thorough and up-to-date understanding of life insurance terms and conditions
maintain and apply a thorough and up-to-date understanding of life insurance administrative requirements
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.
Context of and specific resources for assessment
Assessment must ensure:
competency is demonstrated in the context of the work environment and conditions specified in the range statement either in a relevant workplace or a closely simulated work environment
access to and the use of a range of common office equipment, technology, software and consumables
access to records
access to organisational policies and procedures.
Method of assessment
A range of assessment methods should be used to assess practical skills and knowledge. The following examples are appropriate for this unit:
evaluating an integrated activity, which combines the elements of competency for the unit, or a cluster of related units of competency
observing processes and procedures in workplaces
verbal or written questioning on underpinning knowledge and skills
evaluating samples of work
accessing and validating third party reports.
Guidance information for assessment