SAQA All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.
SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED UNIT STANDARD: 

Apply technical knowledge and skill to advise business entities on insurance and group retirement benefits 
SAQA US ID UNIT STANDARD TITLE
242597  Apply technical knowledge and skill to advise business entities on insurance and group retirement benefits 
ORIGINATOR
SGB Insurance and Investment 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY
-  
FIELD SUBFIELD
Field 03 - Business, Commerce and Management Studies Finance, Economics and Accounting 
ABET BAND UNIT STANDARD TYPE PRE-2009 NQF LEVEL NQF LEVEL CREDITS
Undefined  Regular  Level 6  Level TBA: Pre-2009 was L6 
REGISTRATION STATUS REGISTRATION START DATE REGISTRATION END DATE SAQA DECISION NUMBER
Reregistered  2018-07-01  2023-06-30  SAQA 06120/18 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2024-06-30   2027-06-30  

In all of the tables in this document, both the pre-2009 NQF Level and the NQF Level is shown. In the text (purpose statements, qualification rules, etc), any references to NQF Levels are to the pre-2009 levels unless specifically stated otherwise.  

This unit standard does not replace any other unit standard and is not replaced by any other unit standard. 

PURPOSE OF THE UNIT STANDARD 
This Unit Standard is intended for learners who advise business entities on group employee benefits and insurance. It will be useful for Trustees, Marketing, New Business Teams, Marketers, back office administrators, senior operational people who construct products for the market, Intermediaries and Senior Consultants on corporate accounts.

The qualifying learner is capable of:
  • Researching an industry sector to determine issues and trends.
  • Analysing a business entity to determine needs and existing benefits.
  • Synthesising information to propose possible benefit structures.
  • Recommending a financial solution for a business entity. 

  • LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    It is assumed that learners are competent in Communication and Mathematical Literacy at NQF Level 4 and are working towards or have a Level 5 Financial Services Qualification or equivalent. 

    UNIT STANDARD RANGE 
    The typical scope of this Unit Standard is:
  • Business entities include medium to large corporate and other entities such as Associations, Unions, partnerships and non-profit organisations.
  • The socio-political situation includes legislation, the financial services and other sector charters, Black Empowerment requirements and Labour Legislation. 

  • Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Research an industry sector to determine issues and trends. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Knowledge of current issues in a selected industry or sector is applied to determine events that could impact on group benefits in the sector. 

    ASSESSMENT CRITERION 2 
    Knowledge of legislation and the socio-political environment is applied to determine the parameters for the selected industry. 

    ASSESSMENT CRITERION 3 
    Surveys are analysed to determine industry norms and trends. 

    SPECIFIC OUTCOME 2 
    Analyse a business entity to determine needs and existing benefits. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Existing employee benefits are analysed to determine current rules of the fund and existing cover. 

    ASSESSMENT CRITERION 2 
    The hierarchy in a selected business entity is investigated to determine the decision makers and obtain information about the business. 

    ASSESSMENT CRITERION 3 
    A risk analysis is conducted to determine the demographics of the workforce, the financial position of the entity and the needs or requirements for group benefits. 

    SPECIFIC OUTCOME 3 
    Synthesise information to propose appropriate benefit structures. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Industry information and information about the business entity are compared to determine the excess or shortfall relative to industry norms. 

    ASSESSMENT CRITERION 2 
    Different benefit structures are investigated based on the risk analysis of the business entity. 

    ASSESSMENT CRITERION 3 
    Quotes for the suggested structures are sourced and evaluated in order to produce the most competitive proposal. 

    SPECIFIC OUTCOME 4 
    Recommend a financial solution for a business entity. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Different options are presented and substantiated and the implications are explained to the client. 

    ASSESSMENT CRITERION 2 
    A financial solution is proposed for a selected business entity. 

    ASSESSMENT CRITERION 3 
    A plan is developed to allow for review. 


    UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
  • Anyone assessing a candidate against this Unit Standard must be registered as an assessor with the relevant ETQA or ETQA where a Memorandum of Understanding (MOU) exists with the relevant ETQA.
  • Any institution offering learning that will enable achievement of this Unit Standard must be accredited as a provider through the relevant ETQA or ETQA where a Memorandum of Understanding (MOU) exists with the relevant ETQA.
  • Moderation of assessment will be overseen by the relevant ETQA according to the moderation guidelines and the agreed ETQA procedures. 

  • UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE 
    N/A 

    UNIT STANDARD DEVELOPMENTAL OUTCOME 
    N/A 

    UNIT STANDARD LINKAGES 
    N/A 


    Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO IDENTIFYING 
    The learner is able to identify and solve problems in which responses show that responsible decisions using critical and creative thinking have been made in recommending a financial solution for a business entity. 

    UNIT STANDARD CCFO ORGANISING 
    The learner is able to organise him/herself and his/her own activities by planning for review. 

    UNIT STANDARD CCFO COLLECTING 
    The learner is able to collect, organise and critically evaluate information in researching an industry sector, analysing the risk and evaluating quotes to produce a competitive proposal. 

    UNIT STANDARD CCFO COMMUNICATING 
    The learner is able to communicate effectively in presenting and substantiating a benefits structure and explaining the implications to the client. 

    UNIT STANDARD CCFO DEMONSTRATING 
    The learner is able to see the world as a set of related systems in relating the needs of the client to industry norms. 

    UNIT STANDARD ASSESSOR CRITERIA 
    N/A 

    REREGISTRATION HISTORY 
    As per the SAQA Board decision/s at that time, this unit standard was Reregistered in 2012; 2015. 

    UNIT STANDARD NOTES 
    Search words:
  • Group retirement benefits, employee benefits. 

  • QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Elective  66611   National Certificate: Wealth Management  Level 5  Level TBA: Pre-2009 was L5  Reregistered  2021-06-30  As per Learning Programmes recorded against this Qual 


    PROVIDERS CURRENTLY ACCREDITED TO OFFER THIS UNIT STANDARD: 
    This information shows the current accreditations (i.e. those not past their accreditation end dates), and is the most complete record available to SAQA as of today. Some Primary or Delegated Quality Assurance Functionaries have a lag in their recording systems for provider accreditation, in turn leading to a lag in notifying SAQA of all the providers that they have accredited to offer qualifications and unit standards, as well as any extensions to accreditation end dates. The relevant Primary or Delegated Quality Assurance Functionary should be notified if a record appears to be missing from here.
     
    1. AFRICAN UNION SKILLS DEVELOPMENT PTY LTD 
    2. ALCARI 233 CC T/A ALCARI (Eversdal)(TP) 
    3. Boland Public FET College - Central Office 
    4. CKP Development Agency (Pty) Ltd. 
    5. COLLEGE OF CAPE TOWN 
    6. College of Cape Town - Central Office 
    7. False Bay College 
    8. Intec College 
    9. Invuya Institute of Learning (Pty) Ltd 
    10. Masifunde Training Centre (Pty) Ltd 
    11. North Link College 
    12. Old Mutual Life Assurance Company South Africa 
    13. Ray Strodl Consulting (Pty) Ltd 
    14. Ripple Effect 4 (Pty) Ltd 
    15. Sanlam Life Insurance Ltd 
    16. Sanlam Life Insurance Ltd. 
    17. South Cape College 
    18. South Cape Public FET College - Central Office 
    19. The Institute of Health Risk Managers (Pty) Ltd 
    20. Umfolozi FET College - Central Office 
    21. Universal Healthcare Services (Pty) Ltd 



    All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.