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SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED UNIT STANDARD: 

Apply technical knowledge to advise and support Intermediaries on risk in long term products 
SAQA US ID UNIT STANDARD TITLE
120068  Apply technical knowledge to advise and support Intermediaries on risk in long term products 
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 5  Level TBA: Pre-2009 was L5 
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 are required to communicate with and support Intermediaries and Call Centre Agents to enable Intermediaries and others to give informed advice about Long-Term risk products. It will be useful for Reinsurers, Actuarial Students, Product Developers, and Senior Underwriters.

The qualifying learner is capable of:
  • Interpreting the relationship between mortality, morbidity, diseases and Long-Term products.
  • Explaining the concept of disability with reference to loading.
  • Communicate information on a specific proposal to an Intermediary.
  • Communicate changes and developments in underwriting practices that may impact on an Intermediary.
  • Indicate the interface between Underwriters and Intermediaries. 

  • LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    Learners should be competent in Communication and Mathematical Literacy at Level 4. It is assumed that learners are competent in the Unit Standards in the FETC; Long-Term Risk Assessment. 

    UNIT STANDARD RANGE 
    The typical scope of this unit standard is:
  • The five major body functions are gastro intestinal, muscular, skeletal, urogenital, respiratory and the central nervous system.
  • Disability includes, but is not limited to, own or similar, own or any occupation, accident or occupational disability, debility and partial disability.
  • Options for products include within a particular organisation and across the industry.
  • Declined cases include, but are not limited to, declinations on account of heart, back and depression conditions and HIV.
  • Changes in demographics include, but are not limited to, age, gender, location, income, socio economic data, level of education, qualifications. 

  • Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Interpret the relationship between mortality, morbidity, diseases and Long-Term products. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    The relationship between the five major body functions is explained in terms of mortality and morbidity for the most common medical impairments. 

    ASSESSMENT CRITERION 2 
    The application of loadings and endorsements is interpreted in a specific policy. 

    SPECIFIC OUTCOME 2 
    Explain the concept of disability with reference to loading. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Different definitions of disability are explained with reference to different insurance products. 

    ASSESSMENT CRITERION 2 
    The impact of specific disabilities on loadings is explained and an indication is given of possible alternatives without loading. 

    SPECIFIC OUTCOME 3 
    Communicate information on a specific proposal to an Intermediary. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    An organisations underwriting processes are explained to an Intermediary with reference to standard cases, counter offers and the required cover letter. 

    ASSESSMENT CRITERION 2 
    Options for products that offer cover for previously declined cases are indicated for three different impairments. 

    SPECIFIC OUTCOME 4 
    Communicate changes and developments in underwriting practice that may impact on an Intermediary. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Changes in demographics that influence underwriting decisions are explained and an indication is given of the effect of the change on premium and cover. 

    ASSESSMENT CRITERION 2 
    Changes in medical technology that could influence future underwriting practice are identified and an indication is given of the potential effect on an insurance proposal. 

    ASSESSMENT CRITERION 3 
    Pharmaceutical developments that could influence underwriting decisions are identified and an indication is given of the potential effect on insurance policies. 

    ASSESSMENT CRITERION 4 
    Changes in occupational and avocational related activities are explained in terms of loadings. 

    ASSESSMENT CRITERION 5 
    The role of the LOA Life Register is explained with reference to how it influences underwriting decisions. 

    SPECIFIC OUTCOME 5 
    Indicate the interface between Underwriters and Intermediaries. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Reasons why a financial underwriting decision may differ from the results of a capital needs analysis are analysed for two case studies. 

    ASSESSMENT CRITERION 2 
    Possible benefit options are discussed with an Intermediary to enable the Intermediary to give appropriate advice to a client. 


    UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
    This Unit Standard will be internally assessed by the provider and moderated by a moderator registered by a relevant accredited ETQA or an ETQA that has a Memorandum of Understanding with the relevant accredited ETQA. 

    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 suggesting possible benefit options for a specific client. 

    UNIT STANDARD CCFO COLLECTING 
    The learner is able to collect, organise and critically evaluate information in preparing to communicate information to an Intermediary. 

    UNIT STANDARD CCFO COMMUNICATING 
    The learner is able to communicate effectively communicating information on a specific proposal and changes in underwriting practice and in discussing possible benefit options. 

    UNIT STANDARD CCFO DEMONSTRATING 
    The learner is able to demonstrate an understanding of the world as a set of related systems by explaining the relationship between mortality, morbidity, products and loadings. 

    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 
    N/A 

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Core  49860   National Diploma: Financial Services: Long-Term Risk Assessment  Level 5  NQF Level 05  Reregistered  2023-06-30  INSETA 


    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. CKP Development Agency (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.