Unit of competency Outline

Date retreived
22/07/2026 8:42 AM AWST

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Provide Tier 2 general advice in general insurance

Provide Tier 2 general advice in general insurance

Unit of competency
National Code
FNSASIC314
State Code
OCI66
TGA Status
Current
DTWD Status
Approved
Current Release Number
1.00
Current Release Date
04/11/2020
View on TGA
State Implementation and Classification
Approved Date
11/03/2021
Field of Education
081103 - Insurance And Actuarial Studies
Original Release Date
11/03/2021
Nominal Hours
45
Description
This unit describes the skills and knowledge required to assess clients’ insurance needs and accurately advise them about retail general insurance products and services, excluding personal accident and illness at the Australian Services and Investment Commission (ASIC) Tier 2 level.The unit applies to insurance advisers with well-developed communication and interpersonal skills, who apply product knowledge when providing general advice in relation to Tier 2 (retail general insurance) products to clients.At the time of publication, no licensing requirements apply to this unit. However, given potential future changes in the licensing environment, users must check with the relevant licensing body to confirm whether this unit is required to complete a licence.
Notes
Elements and Performance Criteria
1. Respond to initial client enquiry for general insurance
  • 1.1 Establish and respond to client enquiry according to organisational protocols and within required timeframes
  • 1.2 Provide client with assistance and confirm full and accurate completion of initial documentation, as required
  • 1.3 Determine and clarify products of interest through interaction with clients
  • 1.4 Inform clients 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
  • 1.5 Gather and record information relating to the risk to be insured according to organisational policies and procedures
  • 1.6 Refer clients to suitable specialist personnel where required advice is deemed to fall outside category of general advice
2. Prepare general advice to client
  • 2.1 Analyse range of products of interest to clients and options available to determine their categorisation as areas of general advice in line with legislation and organisational policies
  • 2.2 Provide disclosure documentation according to legislation and organisational policies
  • 2.3 Confirm general advice warning and other disclosures are given to client in line with legislative and organisational policies and any special communication needs of client
3. Communicate and discuss general advice with client
  • 3.1 Demonstrate relevant product and industry knowledge when providing advice to client
  • 3.2 Explain and discuss product advice with client in language that avoids giving impression adviser has considered client’s personal circumstances in providing advice
  • 3.3 Confirm that client is asked to consider appropriateness of advice for own circumstances
  • 3.4 Advise client to read product disclosure statement before making decision
No information
No information
Replaces
State Code National Code Title Type
AUQ40 FNSASIC304 Provide Tier 2 general advice in general insurance Unit of competency