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ANZIIF's Diploma of Life Insurance is designed for employees working in life insurance. Successful completion entitles the participant to Senior Associate Certified Insurance Professional (CIP) membership of ANZIIF. Structure

To enrol in the Diploma, students must have previously completed the Institute’s Certificate IV in Life Insurance. Students can then complete an additional two elective modules not already studied to be awarded the Diploma.

Pre-requisites

• Certificate IV in Life Insurance
• CII Certificate in Insurance
• COI Certificate of Insurance
• Degree in Insurance

Price

AUD $820.00 PER MODULE

 

Compulsory Modules

LI401-15 Life Insurance Products

An introduction to the basic life insurance product types, including: term life insurance; trauma cover; total and permanent disablement (TPD); income protection; permanent life insurance; annuities; and (unbundled) life insurance investment policies.

Learning Outcomes

Upon completion of this section, students should have a knowledge of:

• the origins of insurance practices
• the contract law that underlies modern life insurance policies
• categories of modern life insurance products
• group life policies as distinct from retail life insurance
• the compliance implications of life office products
• the basic channels of life insurance product distribution.

They should be able to recognise the basic characteristics of the following products:

• term life insurance
• TPD and trauma insurance
• IP insurance
• permanent life insurance
• life insurance products for the business context
• annuities as life insurance products
• life office investment products

including their strengths, weaknesses and standard conditions.

They should be able to:

• describe the function of the product lines
• identify the customer needs that the product lines are capable of satisfying
• facilitate the comparison of similar products on the market.
• identify the characteristics of common policy options
• define the specific needs that each option aims to satisfy
• describe the strengths, weaknesses, terms, and conditions of common policy options.

Competencies

• FNSASICX503 Provide advice in life insurance
• FNSILF403 Develop and maintain in-depth knowledge of products and services used by the life insurance sector

Price

AUD $820.00

Duration

Standard (12 weeks)

Online Assignment

Pass Grade: Students must be assessed as competent in all assignment questions

Online Exam

Pass Grade: 50%

LI402-15 Customer Service for Life Insurance

Provides students with the skills and knowledge to deliver professional services to customers, including responding to enquiries, processing complaints, negotiating sales and maintaining relationships.

Learning Outcomes

• project a positive organisational image
• provide customer service
• maintain regular communications with customers
• participate in written and verbal communication
• establish relationships
• receive customer feedback
• maintain customer confidentiality
• maintain records of customer interaction
• discuss customer-related business only in the context of the workplace
• adhere to organisational policies, procedures and codes regarding the handling of customer information
• comply with relevant legislation and regulation
• identify a customer complaint
• process a complaint
• resolve or refer a complaint
• document a complaint
• establish where a dispute exists
• investigate disputes and determine potential actions
• resolve disputes
• refer unresolved disputes to the Financial Ombudsman Service
• finalise disputes
• identify customer needs and expectations
• provide pre-contractual customer service
• maintain records of customer interactions
• provide ongoing after-sales support
• offer additional benefits to customers
• provide customer service to claimants
• maintain records of customer interaction
• inform customers on processes, progress, decisions and any arising delays
• maintain regular communication with claimants.

Competencies

Price

AUD $820.00

Duration

Standard (12 weeks)

Online Assignment

Pass Grade: Students must be assessed as competent in all assignment questions

Online Exam

Pass Grade: 50%

LI403-15 Life Insurance Policy Processes

Covers the information, skills, regulation and ethics of handling life insurance policies. The module introduces and explains a wide variety of policy processes, from the initial receipt and assessment of a life insurance proposal through to policy administration, alterations and claims.

Learning Outcomes

• knowledge of relevant legislative reporting requirements
• privacy and confidentiality legislation and requirements
• product/policy terms and conditions
• role and function of regulatory bodies
• check proposal against validation criteria
• obtain additional specialist information
• assign validity to proposal
• update appropriate register and relevant records
• prepare policy documentation
• issue and dispatch policy documentation
• obtain details of the customer and nature of proposal • research information relevant to the proposal
• determine a suitable response to the inquiry
• communicate information.
• receive policy alteration advice from customers
• process alterations to an insurance policies
• issue policy alteration advice
• update relevant records.
• determine validation criteria
• clarify the information requirements
• research and compile necessary documentation
• redirect request where appropriate
• review evidence available in support of request
• analyse and draw conclusions
• establish liability for payment under a policy
• advise customers on the consequences of processing settlement
• make and/or authorise payments
• present and communicate decisions and update records

Competencies

• FNSILF405 Evaluate life insurance claims

Price

AUD $820.00

Duration

Standard (12 weeks)

Online Assignment

Pass Grade: Students must be assessed as competent in all assignment questions

Online Exam

Pass Grade: 50%

LIBF41-15 Business Fundamentals for Life Insurance

This unit looks at the skills and knowledge participants in the financial services sector need to perform everyday job tasks in an effective and efficient manner. It also identifies the expected industry professional approaches to working with guidelines, procedures, legislation and codes of practice.

This Module has a workplace assessment in the form of a Workplace Skills Observation (WPO). The WPO is due within 6 weeks of you completing the online assessment.

Learning Outcomes

• identify and apply financial services industry guidelines, procedures and legislation
• communicate effectively in the workplace
• identify a safe working environment
• describe the workplace technology required to complete everyday work tasks
• participate in and facilitate work team activities
• plan work to be completed, taking into consideration:

o time
o resources
o other constraints.

Competencies

• FNSINC301 Work effectively in the financial services industry

Price

AUD $240.00

Duration

Open

 

 

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