Understand the relationship between life insurance and superannuation
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Why complete the course?
This course explores the design of death and disability benefit structures, how to negotiate suitable insurance policies, and the administrative and decision-making procedures associated with managing member claims. It includes the latest legislation and discusses the impact Choice of Fund and MySuper have on an individual's insurance cover. This course will also help advisers gain a better understanding of insurance products, including the benefits of holding insurance within superannuation.
Is this course right for you?
Super Insurance is suitable for life insurance and super product advisers, as well as trustees and their service providers. This subject meets ASIC’s RG 146 initial requirements for general advice in life insurance, when combined with RG 146 Superannuation.
What you’ll learn about
- Why funds may choose to insure a portion of the death and disablement benefits
- The insurance issues faced by superannuation fund trustees
- Types of death and disablement benefits provided by funds
- Standard features of group insurance cover
- Eligibility criteria for insurance cover
- Common features of income protection insurance
- The different insurance approaches for part-time, casual employees and employees on leave
- The due diligence process for appointing a new insurer
- Insurance-related disclosure requirements
- The general underwriting procedures, and the events that lead to underwriting
- The process of an insurance review
- How insurance premiums are calculated and collected
- The procedures involved in the assessment of death and disablement benefits
- Internal and external dispute resolution procedures.
How you’ll be assessed
Quizzes, online assessments and written assignments.
What you’ll gain
ASFA Statement of Attainment.
FNSSUP407 Assess complex superannuation benefit and or insurance claims
FNSSUP502 Supervise insurer liaison
FNSASICX503 Provide advice in life insurance (knowledge component only)
This subject forms part of the FNS50715 Diploma of Superannuation a nationally recognised qualification, and meets the ASIC requirements for RG 146 insurance knowledge.
Click here to see the full list of units of competencies for the FNS50715 Diploma of Superannuation qualification.
How you can learn
- Flexible online delivery – start at any time
Duration: six months
Pricing (GST exempt)
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