Unit of competency Outline

Date retreived
22/07/2026 6:22 PM AWST

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Process a life insurance application

Process a life insurance application

Unit of competency
National Code
FNSILF302
State Code
AUP52
TGA Status
Current
DTWD Status
Approved
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
20
Description
This unit describes the skills and knowledge required to process new applications for life insurance.It applies to individuals whose job roles may require them to gather, enter, record and validate the information in insurance proposals and apply relevant policies and procedures to achieve the required outcomes.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. Receive applications
  • 1.1 Receive new life insurance applications and compile necessary documentation
  • 1.2 Check that documentation is correct and complete in accordance with organisational procedures and regulatory requirements
  • 1.3 Gather further information from appropriate information sources as necessary
  • 1.4 Enter application data in appropriate systems and verify data input accuracy
2. Process applications
  • 2.1 Establish delegation authority in accordance with organisational procedures and refer application to appropriate authority as necessary
  • 2.2 Consult with internal stakeholders about processing issues or concerns, as appropriate
  • 2.3 Process application, once information is verified, in accordance with organisational procedures and regulatory requirements
  • 2.4 Communicate result to all relevant parties in accordance with procedures and regulatory requirements
  • 2.5 Update records and file documentation in accordance with procedures and regulatory requirements
No information
No information
Replaces
State Code National Code Title Type
D9445 FNSILF302A Process a life insurance application Unit of competency