Unit of competency Outline
Date retreived
22/07/2026 10:01 PM AWST
22/07/2026 10:01 PM 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.
Contribute to the life risk underwriting process
Contribute to the life risk underwriting process
Unit of competency
National Code
FNSILF401
FNSILF401
State Code
AUR87
AUR87
TGA Status
Replaced
Replaced
DTWD Status
Replaced
Replaced
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
50
Description
This unit describes the skills and knowledge required to undertake risk assessments of applications for life insurance including gathering the risk information, and reviewing and assessing it against appropriate risk criteria.It applies to individuals who use specialised knowledge and systematic approaches to analyse and evaluate information and make judgements within limits of delegated authority.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. Identify risk
- 1.1 Identify product type to ensure that nature of risk can be assessed and handled accordingly
2. Evaluate proposal against risk assessment criteria
- 2.1 Assess proposal against risk assessment criteria to clearly identify risk factors
- 2.2 Identify need for additional information to further evaluate proposal
3. Obtain further information
- 3.1 Identify appropriate sources of further information to enable comprehensive evaluation of proposal
- 3.2 Safeguard privacy of parties involved in providing information by complying with legislative and compliance requirements
- 3.3 Obtain all further information within specified timeframes to satisfy outstanding risk assessment criteria
- 3.4 Provide ongoing advice to concerned parties on status of assessment of proposal
4. Determine and advise terms and conditions of risk acceptability
- 4.1 Assess acceptability of risk against all available information and in accordance with appropriate underwriting guidelines
- 4.2 Within delegated authority, establish terms and conditions that minimise risk liability
- 4.3 Promptly advise all relevant parties on acceptance or rejection of proposal
No information
No information
Replaces
| State Code | National Code | Title | Type |
|---|---|---|---|
| D4174 | FNSILF401A | Contribute to the life risk underwriting process | Unit of competency |
Replaced By
| State Code | National Code | Title | Type |
|---|---|---|---|
| ODR87 | FNSILF411 | Undertake the life risk underwriting process | Unit of competency |
| State Code | National Code | Title | Type |
|---|---|---|---|
| AVX2 | FNS41515 | Certificate IV in Life Insurance | Qualification |