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 THAT HAS PASSED THE END DATE: 

Demonstrate knowledge and understanding of personal accident insurance 
SAQA US ID UNIT STANDARD TITLE
10371  Demonstrate knowledge and understanding of personal accident insurance 
ORIGINATOR
SGB Financial Services 
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 4  NQF Level 04  2 
REGISTRATION STATUS REGISTRATION START DATE REGISTRATION END DATE SAQA DECISION NUMBER
Passed the End Date -
Status was "Registered" 		 2002-06-12  2005-06-12  SAQA 0742/02 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2006-06-12   2009-06-12  

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 is replaced by: 
US ID Unit Standard Title Pre-2009 NQF Level NQF Level Credits Replacement Status
120022  Apply knowledge and understanding of personal accident insurance  Level 4  NQF Level 04  2   

PURPOSE OF THE UNIT STANDARD 
This unit standard is intended for learners who wish to follow a career path in short term personal domestic insurance.

The qualifying learner is capable of:
  • Explaining personal accident insurance.
  • Differentiating between the categories of personal accident insurance.
  • Applying underwriting criteria in a personal accident insurance policy.
  • Showing insight into other aspects that impact on personal accident insurance. 
    		•

    LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    There is open access to this Unit Standard. Learners should be competent in Communication, Mathematical Literacy and Financial Literacy at NQF Level 3. 

    UNIT STANDARD RANGE 
    The typical scope of this unit standard is:
    1. Categories of personal accident insurance are group personal accident, personal accident and stated benefits.
    2. Core benefits are accidental death, permanent total disability, temporary partial disability and temporary total disability.
    3. Criteria used to underwrite an individual personal accident policy are occupation, health, avocations (pastimes or hobbies), sports and age.
    4. Legislation includes Policyholder protection, Medical Schemes Act, Short Term Insurance Act, Compensation for Occupational Injury and Diseases (COID - previously Workman`s Compensation) 

    Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Explain personal accident insurance. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    1. The categories of personal accident insurance are named and an indication is given of how each is underwritten. 

    ASSESSMENT CRITERION 2 
    2. The concept of accident is explained with examples of how it is used in personal accident insurance. 

    ASSESSMENT CRITERION 3 
    3. The concepts of an indemnity and a non-indemnity contract are explained with examples of each. 

    ASSESSMENT CRITERION 4 
    4. The types of cover offered as core benefits under personal accident policies are named with examples. 

    ASSESSMENT CRITERION 5 
    5. The difference between the payment of medical expenses under a medical aid scheme or medical insurance policy and a personal accident insurance policy is explained in terms of medical expenses following an accident. 

    ASSESSMENT CRITERION 6 
    6. The implications of personal accident as a non-indemnity contract are explained and an indication is given of the overlap with medical schemes and medical insurance with reference to the policy wording in a personal accident policy. 

    SPECIFIC OUTCOME 2 
    Differentiate between the categories of personal accident insurance. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    1. The concept of group personal accident insurance is explained with reference to the selection of benefits and the payment of premiums. 

    ASSESSMENT CRITERION 2 
    2. Cover available to a specific group or organisation is investigated and an indication is given of options available under a specific policy with reference to the selection of benefits and the payment of premiums. 

    ASSESSMENT CRITERION 3 
    3. The concept of individual personal accident insurance is explained and an indication is given of the options available under an individual policy. 

    ASSESSMENT CRITERION 4 
    4. Optional cover available under individual personal accident insurance is investigated for two different insurers. 

    SPECIFIC OUTCOME 3 
    Apply underwriting criteria to a personal accident insurance policy. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    1. The effect of occupation on premium in a group scheme is explained and a rate table or autorating is used to calculate a premium. 

    ASSESSMENT CRITERION 2 
    2. Criteria used to underwrite an individual personal accident insurance policy are explained and an indication is given of how each criteria affects the risk. 

    ASSESSMENT CRITERION 3 
    3. The concepts of territorial limits, 24 hour cover, working hours cover and sums insured are explained with examples. 

    ASSESSMENT CRITERION 4 
    4. The benefits to be insured are identified for a specific personal accident policy. 

    ASSESSMENT CRITERION 5 
    5. The limitations, exclusions, conditions and provisions of a specific policy are explained with reference to the underwriting decision. 

    SPECIFIC OUTCOME 4 
    Show insight into other aspects of insurance that impact on personal accident insurance. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    1. The limitations on life cover that can be supplemented by personal accident insurance are explained with examples. 

    ASSESSMENT CRITERION 2 
    2. The limitations on Road Accident Fund cover that can be supplemented by personal accident insurance are explained with examples. 

    ASSESSMENT CRITERION 3 
    3. The limitations on children are named and reasons are given to explain why there are limitations imposed in the insurance of children less than 14 years of age. 

    ASSESSMENT CRITERION 4 
    4. The beneficiary of a personal accident policy is identified for three case studies. 

    ASSESSMENT CRITERION 5 
    5. Legislation that regulates personal accident insurance is identified and applied to five case studies. 

    ASSESSMENT CRITERION 6 
    6. The consequences of giving incorrect advice are explained in terms of Policyholder Protection legislation and Professional indemnity. 


    UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
    This Unit Standard will be internally assessed by the provider and moderated by a moderator registered by INSQA. The mechanisms and requirements for moderation are contained in the document obtainable from INSQA,
    INSQA framework for assessment and moderation. 


    Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO IDENTIFYING 
    Learners are able to identify and solve problems in which responses show that responsible decisions using critical thinking have been made in selecting suitable options for a specific group or organisation. 

    UNIT STANDARD CCFO COLLECTING 
    Learners are able to collect, organise and critically evaluate information in analysing the needs of a specific client and suggesting applicable cover. 

    UNIT STANDARD CCFO COMMUNICATING 
    Learners are able to communicate effectively using visual, mathematics and language skills in explaining the various concepts in the unit standard and using a rate table to calculate a rate. 

    UNIT STANDARD CCFO DEMONSTRATING 
    Learners are able to demonstrate an understanding of the world as a set of related systems by identifying the overlap between personal accident insurance and medical schemes/insurance, and applying policyholder protection legislation and professional indemnity. 

    UNIT STANDARD NOTES 
    This unit standard has been replaced by unit standard 120022, which is 'Apply knowledge and understanding of personal accident insurance', Level 4, 2 credits. 

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Elective  48493   National Certificate: Financial Services: Wealth Management  Level 4  NQF Level 04  Passed the End Date -
    Status was "Registered"     		 2007-02-11  Was INSETA until Last Date for Achievement 
    Elective  21796   National Certificate: Short Term Insurance  Level 4  NQF Level 04  Passed the End Date -
    Status was "Registered"     		 2005-06-12  Was INSETA until Last Date for Achievement 


    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.
     
    NONE 


    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.