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Life & Health Insurance - Full Programme

L5PRFQ
Price:
$2,217.00 +GST Non-member
$2,043.00 +GST Learning Partner
$1,870.00 +GST IBANZ Member

This enrolment leads to the Life and Health Insurance full strand of the New Zealand Certificate in Financial Services Level 5.

It is relevant to  Life and Health insurance advisers and agents.

The enrolment includes the Core Knowledge module +  Life and Health Insurance module.  For those working it is expected to take 12-18 months part time.

This option includes the following Modules

Core Knowledge

Content 

This module provides an understanding of the level of professionalism required in the financial services industry. You will gain an understanding of the wider financial services environment and research fit for purpose financial or insurance solutions.  Details of the unit standards included in this module are shown below. (NZQA 40 Credits)

In order to gain the certificate in Financial Services Level 5 this module is a core compulsory component, ie it must be completed in conjunction with another module to complete the full qualification strand

Your choice of strand will depend on your circumstances - you can see a full summary here. 

Assessment 

2 study guides are provided for these four unit standards, and the assessment is predominantly evidence based.

This means actual workplace examples of clients are used to demonstrate that you can put into practice the learning contained within the study guide.

Documents can be uploaded using the student dashboard function, scanned and email to your tutor, or posted to our offices. note that client names should be removed.

Approximate time frames for this module is 6.5 months.


Life and Health Insurance Module

Content 

This module provides an understanding of the risk management concepts and the legislative and regulatory environment associated with Life & Health  insurance. You will gain a broad understanding of products and services available to provide fit for purpose solutions in terms of Life and Health insurance. 

Details of the unit standards included in this module are shown below.(NZQA 25 Credits) 

Assessment 

A study guide is provided for each unit standard along with an assessment document.

Assessment is by way of 4 written assessment documents which can be downloaded from your dashboard. 

Work can be completed either as a word document, or similar, or written. On completion work can be uploaded on your student dashboard for the tutor to assess.

Approximate time frames for this module is 4 months.


Learning Units Included

Financial Services Best Practice and Professionalism

28363

 This unit standard is one of 4 that make up the Core Knowledge module. In this unit you will gain an understanding of:

  • Best practice and professionalism in respect of client care, ethical behaviour, and process
  • Common estate planning and taxation concepts 
  • The financial advice Six Step Process and its applicability in achieving appropriate solutions for clients 
Objectives
  • Demonstrate knowledge of and, where appropriate, comply with best practice and professionalism in respect of client care, ethical behaviour, and advice process.
  • Demonstrate understanding of the financial advice Six Step Process and its applicability in achieving appropriate solutions for clients.
  • Demonstrate understanding of common estate planning tools and taxation measures.


Regulatory Environment

28364

 This unit is one of 4 unit standards that make up the Core Knowledge module. In the unit you will gain an understanding of:

  • Regulatory environment and the impact on your daily work
  • The impact of legislation  on your daily work 
  • The categories of clients and applicable types of financial services 
  • The role and responsibilities in a complaint or dispute process
Objectives
  • Demonstrate understanding of the roles and responsibilities of participants in complaints and disputes handling processes.
  • Demonstrate understanding of different categories of clients and types of financial services.
  • Demonstrate understanding of the background to the regulatory environment, and identify the applicability and impact of legislation that is relevant in a broad financial services context.


Research and Analysis Processes

28365

This unit standard is one of 4 that make up the Core Knowledge module. In this unit you will gain an understanding of:

  • Research and analysis processes used in assessing, reviewing, or comparing a product, service, or solution, 
  • Conduct appropriate research to develop financial solutions. 
Objectives
  • To understand the processes involved in researching and analyzing financial products or services when reviewing or comparing financial products or services to find a fit for purpose solution.
  • To conduct research and analysis, to develop fit for purpose financial solutions, and to provide a supporting rationale for the identified solution.


The Economic Environment and Financial Markets

28366

This unit standard is one of 4 that make up the Core Knowledge module. In this unit you will gain an understanding of:

  • The role of financial markets and their participants,
  • The common products by which financial markets are accessed
  • The nature and factors that impact  the economic environment and the participants 
Objectives
  • To understand financial markets and systems
  • To understand and explain the factors that impact participants in the financial markets and systems
  • To recognise and understand common types of financial services and products used by consumers
  • To understand financial market participants


Life & Health Insurance Concepts and Principles

28371

This unit standard is one of 4 that make up the Life & Health Insurance module. In this unit you will gain an understanding of: 

  • The types of risk  in a Life & Health context
  • The concepts of  Life and Health insurance
  • How to evaluate and manage personal risk in a Life & Health context of risk.
     
Objectives
  • To understand risk exposure and methods of managing risk for a range of personl Risk (Life & Health) insurance situations
  • To evaluate and manage risk exposures in a Life & Health insurance context and identify risks that are insurable and those which are not insurable
  • To learn about and understand personal risk risk concepts and types and their relevance to Life & Health insurance products
  • To learn about and understand key insurance risk concepts such as client tolerance, aversion to and attitude to risk


Life and Health Insurance Legislation, Regulations and Codes of Practice

28372

This unit standard is one of 4 that make up the Life & Health Insurance module. In this unit you will gain an understanding of: 

  • The relevant legislation, regulations and codes of practice
  • The roles, responsibilities, and interrelationships in life and health insurance organisations
Objectives
  • To understand the key roles and responsibilities and interrelationships in life and health organisations
  • To understand the key provisions of the legislative framework and apply these in your daily work


Life & Health Insurance Products

28373

This unit standard is one of 4 that make up the Life & Health Insurance module. In this unit you will gain an understanding of: 

  • Life and health insurance product types
  • Issues that are relevant to creating appropriate life and health insurance arrangements
  • Applying detailed knowledge to identify products and services that meet life and health insurance client needs
Objectives
  • Identify the features, benefits, risks, and limitations of life and Health products and services and apply the knowledge in the context of arranging cover and in pursuing a claim
  • To identify source of risk, nature of risk, and risk management requirements and identify common insurance solutions
  • To understand the impact of policy ownership in a life and Health context


Life & health Insurance Product Application and Review Process

28374

This unit standard is one of 4 that make up the Life & Health Insurance module. In this unit you will gain an understanding of: 

  • The considerations and processes for life and health insurance policy issue, maintenance, and claims
  • The considerations and relevant issues for a life and health insurance review
Objectives
  • To identify the triggers for a review of a personal risk programme
  • To learn to compare the advantages and disadvantages of existing and proposed life and health insurance programmes
  • To learn and understand the steps involved in policy issue and policy maintenance in a life and health context
  • To Learn and understand the steps involved in the claims process in a life and health context


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