We are not taking new students for the current version of the Certificate IV in Life Insurance (FNS41515) due to the development of the Life Insurance Professional Standards Framework. The updated qualification will be available from late October 2021. Continuing students who are part way through can enrol by contacting Customer Service at [email protected] or phone 03 9613 7200.
Skills Unit

Life Insurance Policy Processes

Covers the information, skills, regulation and ethics of handling life insurance policies. The module introduces and explains a wide variety of policy processes, from the initial receipt and assessment of a life insurance proposal through to policy administration, alterations and claims.

20 CIP Points
Life Insurance Policy Processes
AUD $895
Life and Retirement Income
12 weeks

What you'll learn

  • knowledge of relevant legislative reporting requirements
  • privacy and confidentiality legislation and requirements
  • product/policy terms and conditions
  • role and function of regulatory bodies
  • check proposal against validation criteria
  • obtain additional specialist information
  • assign validity to proposal
  • update appropriate register and relevant records
  • prepare policy documentation
  • issue and dispatch policy documentation
  • obtain details of the customer and nature of proposal
  • research information relevant to the proposal
  • determine a suitable response to the inquiry
  • communicate information.
  • receive policy alteration advice from customers
  • process alterations to an insurance policies
  • issue policy alteration advice
  • update relevant records.
  • determine validation criteria
  • clarify the information requirements
  • research and compile necessary documentation
  • redirect request where appropriate
  • review evidence available in support of request
  • analyse and draw conclusions
  • establish liability for payment under a policy
  • advise customers on the consequences of processing settlement
  • make and/or authorise payments
  • present and communicate decisions and update records


  • FNSILF401 Contribute to the life risk underwriting process
  • FNSILF404 Process requests for policy alterations and assignments
  • FNSILF405 Evaluate life insurance claims
  • FNSILF406 Collect and manage information to facilitate claims assessment
  • FNSILF407 Settle life insurance claims

Online Assignment

  • Pass Grade: students must be assessed as competent in all assignment questions

Online Exam

  • Pass Grade: 50%
  • Duration: 120min
20 CIP Points
Life Insurance Policy Processes
AUD $895
Life and Retirement Income
12 weeks