The qualification covers Long-term and Short-term insurance-related learning. The FETC in Retail Insurance introduces a fundamental understanding of the key terms, rules, concepts and principles of insurance that will enable learners to be informed workers in the Retail Insurance industry. The knowledge and skills learnt towards the qualification should make learners who sell insurance policies more informed, efficient and cost-effective workers who satisfy the qualification requirements. This should result, in more effective and efficient services to the consumers and should make the industry more competitive and compliant in the global market.

Qualifications

Further Education and Training Certificate: Retail Insurance (SAQA ID: 49835)

Target Market

Open access

Entry Requirements

Communication and Mathematical Literacy at NQF L3 and unit standard 10715 Investigate credit in own circumstances at NQF L2

Objectives

At the end of this programme, the learner should be able to:
• Demonstrate skills and techniques required to build a relationship with a client in a financial services environment
• Apply the skills of customer care in a specific work environment
• Manage risk in own work environment
• Manage own work performance in relation to an organisation’s performance management system
• Manage time effectively to enhance productivity and enable a balanced lifestyle
• Operate a computer workstation in a business environment
• Demonstrate knowledge and insight of the Financial Advisory and Intermediary Services Act (FAIS) (Act 37 of 2002)
• Explain the Finance Intelligence Centre Act, Act 38 of 2001 and its implications for client relations
• Demonstrate knowledge and application of ethical conduct in a business environment
• Apply the law of contract to insurance
• Demonstrate knowledge and understanding of aspects of the regulatory framework relating to consumer credit agreements in Retail Insurance in South Africa
• Apply the regulations for disclosure that are required as part of the financial sales process
• Describe issues of compliance or non-activity that could result in civil or criminal liability in terms of business law
• Explain basic economics
• Describe life insurance
• Indicate the scope of life insurance in South Africa
• Describe short term insurance
• Indicate the scope of short-term insurance in South Africa
• Analyse new developments reported in the media that could impact on Short Term insurance
• Describe how to manage workplace relationships
• Apply financial knowledge and skill to compile a finance agreement
• Demonstrate knowledge and understanding of personal motor insurance
• Describe standard insurance cover in terms of SASRIA
• Explain credit life insurance
• Understand the fundamentals of long-term insurance

Target Group

Open access