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: 

Investigate dread disease products and their place in wealth management 
SAQA US ID UNIT STANDARD TITLE
113913  Investigate dread disease products and their place in wealth management 
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" 		 2004-02-11  2007-02-11  SAQA 1852/04 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2008-02-11   2011-02-11  

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
243139  Investigate dread disease products and their place in wealth management  Level 4  NQF Level 04  2   

PURPOSE OF THE UNIT STANDARD 
This Unit Standard is intended for learners in a financial services environment. It will add value to financial planners, intermediaries financial advisers, healthcare intermediaries, product developers, co-coordinators of medical schemes, financial call centre agents and trustees of medical schemes and retirement funds. It views dread disease insurance as an integral part of holistic financial planning that is not necessarily part of life cover.

The qualifying learner is capable of:
  • Explaining dread disease as an insurance product.
  • Investigating dread disease products offered by different financial services institutions.
  • Explaining the legal framework for dread disease.
  • Describing dread disease as part of holistic wealth management. 
    		•

    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 Level 3. 

    UNIT STANDARD RANGE 
    The typical scope of this Unit Standard is:
  • Dread disease includes, but is not limited to, cancer, heart attack, coronary artery surgery, stroke, kidney failure, paraplegia and blindness.
  • Events that would not be covered include, but are not limited to, events resulting from war, terrorist attack, civil commotion, riots, rebellion, breaking of the law, failure to disclose information, self inflicted injury, under the influence of alcohol or drugs and avocation related risks.
  • Legislation includes, but is not limited to, the Long Term Act, FAIS, FICA, Medical Schemes Act, Pension Funds Act, Income Tax Act and CGT. 
    		•

    Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Explain dread disease as an insurance product. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    1. The concept of dread disease is explained with examples. 

    ASSESSMENT CRITERION 2 
    2. Different terminology used to describe dread disease is identified for three different insurers. 

    ASSESSMENT CRITERION 3 
    3. The various medical conditions covered by dread disease products are named and explained and an indication is given of when the insurer would pay out for each condition. 

    ASSESSMENT CRITERION 4 
    4. Dread disease events which would not be covered are identified from a specific policy document and an indication is given of why such events are excluded from the policy. 

    SPECIFIC OUTCOME 2 
    Investigate dread disease products offered by different financial services institutions. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    1. Dread disease products offered by three insurers are identified and compared in terms of the contracts, benefits, exclusions and when benefits are payable. 

    ASSESSMENT CRITERION 2 
    2. The rates charged by the three insurers are compared and an indication is given of the policy best suited to a specific client. 

    SPECIFIC OUTCOME 3 
    Explain the legal framework for dread disease. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    1. Legislation relating to dread disease is identified and an indication is given of how the Acts impact of the sale of dread disease policies. 

    ASSESSMENT CRITERION 2 
    2. The tax implications for dread disease policies are explained with reference to tax on receipt of the benefit and deductibility of premiums. 

    ASSESSMENT CRITERION 3 
    3. The demarcation debate between medical schemes and insurance is researched with reference to dread disease and healthcare products. 

    SPECIFIC OUTCOME 4 
    Describe dread disease as part of holistic wealth management. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    1. Reasons why a client may require dread disease insurance are explained with examples. 

    ASSESSMENT CRITERION 2 
    2. The difference between dread disease cover and disability insurance is explained in terms of benefits, contributions, tax deductions and when benefits are payable. 

    ASSESSMENT CRITERION 3 
    3. The role of dread disease in a holistic financial plan is explained with reference to the specific needs of three different clients. 


    UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
    Accreditation for this Unit Standard shall be obtained from the relevant Education and Training Quality Assurance Body, through summative and formative assessment by a registered assessor.
  • Assessors must be registered as an Assessor with the relevant ETQA
  • Moderators must be registered as assessors with the relevant ETQA, or with an ETQA that has a Memorandum of Agreement with the relevant ETQA.
  • Training providers must be accredited by the relevant ETQA.

    Moderation should include both internal and external moderation where applicable. 
    		•

    UNIT STANDARD DEVELOPMENTAL OUTCOME 
    N/A 

    UNIT STANDARD LINKAGES 
    N/A 


    Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO IDENTIFYING 
    Learners are capable of identifying and solving problems and making decisions is explaining the role of dread disease cover in a holistic financial plan. 

    UNIT STANDARD CCFO COLLECTING 
    Learners are capable of collecting, organising and critically evaluate information in comparing dread disease policies from different insurers and selecting the policy best suited to a particular client. 

    UNIT STANDARD CCFO COMMUNICATING 
    Learners are capable of communicating effectively in explaining concepts relating to dread disease cover and the legal framework for dread disease. 

    UNIT STANDARD CCFO DEMONSTRATING 
    Learners are capable of demonstrating an understanding of the world as a set of related systems by identifying events that would or would not lead to payout of benefits. 

    UNIT STANDARD ASSESSOR CRITERIA 
    N/A 

    UNIT STANDARD NOTES 
    This unit standard has been replaced by unit standard 243139, which is "Investigate dread disease products and their place in wealth management", 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
    Core  49649   Further Education and Training Certificate: Long-term Insurance  Level 4  NQF Level 04  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  INSETA 
    Elective  49529   Further Education and Training Certificate: Long-Term Risk Assessment  Level 4  NQF Level 04  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  INSETA 
    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 


    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.