Unit of competency Outline

Date retreived
22/07/2026 11:39 PM AWST

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Underwrite complex medical risks

Underwrite complex medical risks

Unit of competency
National Code
FNSILF502
State Code
AUR77
TGA Status
Replaced
DTWD Status
Replaced
Current Release Number
1.00
Current Release Date
25/03/2015
View on TGA
State Implementation and Classification
Approved Date
16/09/2015
Field of Education
081103 - Insurance And Actuarial Studies
Original Release Date
16/09/2015
Nominal Hours
50
Description
This unit describes the skills and knowledge required to apply complex medical risk assessments to the underwriting of a life insurance application.It applies to individuals who use specialised knowledge to determine risk and make decisions, within a level of delegated authority, about complex underwriting functions.No licensing, legislative or certification requirements apply to this unit at the time of publication.
Notes
Elements and Performance Criteria
1. Identify medical risks
  • 1.1 Review applications and associated documentation to identify relevant medical information
  • 1.2 Interpret medical information to identify medical risk factors
  • 1.3 Review need for additional medical information and collect as appropriate
2. Identify underwriting significance
  • 2.1 Identify potential life risk implications of supplied medical information according to organisational requirements
  • 2.2 Determine interrelationships between medical conditions and identify medical risk factor implications
  • 2.3 Identify long-term risk implications of medical treatment and recovery processes
  • 2.4 Select and apply appropriate medical risk rating systems and risk handling techniques
3. Determine risk acceptance criteria
  • 3.1 Identify risk acceptance criteria to suit type and context of risk in accordance with procedures
  • 3.2 Assess adequacy of medical information against risk acceptance criteria in accordance with procedures
  • 3.3 Consult with relevant personnel within organisation where clarification is sought on adequacy of medical information provided
4. Prepare life insurance policy
  • 4.1 Develop terms of acceptance in accordance with market conditions and accepted levels of exposure
  • 4.2 Document life insurance policy with terms and conditions in accordance with procedures and regulatory requirements
No information
No information
Replaces
State Code National Code Title Type
WC242 FNSILF502A Underwrite complex medical risks Unit of competency
Replaced By
State Code National Code Title Type
ODR86 FNSILF512 Underwrite complex risks Unit of competency
State Code National Code Title Type
AWB9 FNS51315 Diploma of Life Insurance Qualification