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.

Life insurance policy may include:
annuities (immediate or deferred)
disability income
endowment
insurance bonds (investment only policies)
term life (including terminal illness and Total and Permanent Disablement (TPD))
trauma
whole of life.
Payment criteria may include:
for ordinary policies:
cancellation
commutation (for annuities and other income streams)
death (including terminal illness)
invalidity (permanent or temporary disability)
maturity
rollover
surrender
trauma
for superannuation policies:
death (including terminal illness)
invalidity (permanent or temporary disability)
retirement
rollover.
satisfying another condition of release.
Additional information may include:
medical evidence
financial evidence
interviews
surveillance
employment details
specialist advice.
Evidence may include:
proof of age
proof of morbidity/disability
proof of survival
proof of title.
Appropriate sources may include:
interviewing the claimant
requesting reports and records
speaking with professionals
specialist advice
surveillance.
Procedures may include:
organisational complaints handling processes
organisational customer service charter
organisational guidelines
organisational policy
organisational privacy and confidentiality guidelines
organisational procedures.
Investigations may include:
financial investigations
interviews
medical investigations
surveillance.
Ethical and regulatory requirements may include:
Australian Securities and Investments Commission (ASIC) regulatory guides
corporations legislation
privacy legislation
relevant professional Codes of Practice.

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:
apply analytical and administrative skills in the assessment of claims
maintain and apply a thorough and up-to-date understanding of life insurance terms and conditions and claims processing
maintain and apply a thorough and up-to-date understanding of life insurance administrative requirements
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
setting and reviewing workplace projects and business simulations or scenarios
Guidance information for assessment