SAQA All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.
SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED UNIT STANDARD THAT HAS PASSED THE END DATE: 

Describe disability insurance solutions in the context of financial planning 
SAQA US ID UNIT STANDARD TITLE
113910  Describe disability insurance solutions in the context of financial planning 
ORIGINATOR
SGB Financial Services 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY
-  
FIELD SUBFIELD
Field 03 - Business, Commerce and Management Studies Finance, Economics and Accounting 
ABET BAND UNIT STANDARD TYPE PRE-2009 NQF LEVEL NQF LEVEL CREDITS
Undefined  Regular  Level 4  NQF Level 04  4 
REGISTRATION STATUS REGISTRATION START DATE REGISTRATION END DATE SAQA DECISION NUMBER
Passed the End Date -
Status was "Registered" 		 2004-02-11  2007-02-11  SAQA 1852/04 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2008-02-11   2011-02-11  

In all of the tables in this document, both the pre-2009 NQF Level and the NQF Level is shown. In the text (purpose statements, qualification rules, etc), any references to NQF Levels are to the pre-2009 levels unless specifically stated otherwise.  

This unit standard is replaced by: 
US ID Unit Standard Title Pre-2009 NQF Level NQF Level Credits Replacement Status
243131  Describe disability insurance solutions in the context of financial planning  Level 4  NQF Level 04  4   

PURPOSE OF THE UNIT STANDARD 
This Unit Standard is intended for learners in a financial services environment. It will add value to financial planners, intermediaries financial advisers, healthcare intermediaries, product developers, co-coordinators of medical schemes, financial call centre agents and trustees of medical schemes and retirement funds. It views disability insurance as an integral part of holistic financial planning that is not necessarily part of life cover.

The qualifying learner is capable of:
  • Determining the source and nature of income generation in order to establish level of income.
  • Explaining the relationship between occupation and avocation risks and cover.
  • Analysing the financial implications of a potential occurrence.
  • Proposing a potential disability cover solution in the context of holistic financial planning. 
    		•

    LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    There is open access to this Unit Standard. Learners should be competent in Communication, Mathematical Literacy and Financial Literacy at Level 3. 

    UNIT STANDARD RANGE 
    The typical scope of this Unit Standard is disability arising from occupation and avocation risks. 

    Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Determine the source and nature of income generation in order to establish level of income. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    1. The exact nature of how income is earned is determined with reference to time spent on administration or computers, manual labour, facilities used and the amount of vehicle travel. 

    ASSESSMENT CRITERION 2 
    2. Work aspects relating to morbidity are determined with reference to income generation. 

    ASSESSMENT CRITERION 3 
    3. Employee group cover is established for three case studies. 

    ASSESSMENT CRITERION 4 
    4. Industry developments in disability cover are investigated with reference to traditional cover and new innovations in insurance offerings. 

    SPECIFIC OUTCOME 2 
    Explain the relationship between occupation and avocation risks and cover. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    1. The role of occupation and avocation in determining the need for cover is explained and an indication is given of the relationship between cover and payout. 

    ASSESSMENT CRITERION 2 
    2. The risks in three specific work situations and three avocations are analysed and an indication is given of how each risk impacts on cover. 

    ASSESSMENT CRITERION 3 
    3. The effect of change in job function and life circumstances on cover is explained and an indication is gives of the consequences of not notifying changes in income, job function and lifestyle. 

    ASSESSMENT CRITERION 4 
    4. Reasons why a claim was not paid out are explained for three case studies. 

    SPECIFIC OUTCOME 3 
    Analyse the financial impact of a potential occurrence. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    1. A needs analysis is conducted to determine the source of income, amount and type of cover required and the current provision for disability insurance. 

    ASSESSMENT CRITERION 2 
    2. The term for which disability cover should be made is explained with examples. 

    SPECIFIC OUTCOME 4 
    Propose a potential disability cover solution in the context of holistic financial planning. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    1. The concept of occupational disability is explained and an indication is given of what is covered and when it is paid out. 

    ASSESSMENT CRITERION 2 
    2. The concept of physical impairment is explained and an indication is given of what is covered and when it is paid out. 

    ASSESSMENT CRITERION 3 
    3. The concept of monthly income distribution is explained and an indication is given of what is covered and when it is paid out. 

    ASSESSMENT CRITERION 4 
    4. The concept of dread disease is explained and an indication is given of what is covered and when it is paid out. 

    ASSESSMENT CRITERION 5 
    5. The concept of capital providers is explained and an indication is given of what is covered and when it is paid out. 

    ASSESSMENT CRITERION 6 
    6. The difference between free standing disability cover and that linked to another benefit, such as life cover, is explained with examples. 

    ASSESSMENT CRITERION 7 
    7. The supplementary elements in a proposal are explained for a specific solution. 


    UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
    Accreditation for this Unit Standard shall be obtained from the relevant Education and Training Quality Assurance Body, through summative and formative assessment by a registered assessor.
  • Assessors must be registered as an Assessor with the relevant ETQA
  • Moderators must be registered as assessors with the relevant ETQA, or with an ETQA that has a Memorandum of Agreement with the relevant ETQA.
  • Training providers must be accredited by the relevant ETQA.

    Moderation should include both internal and external moderation where applicable. 
    		•

    UNIT STANDARD DEVELOPMENTAL OUTCOME 
    N/A 

    UNIT STANDARD LINKAGES 
    N/A 


    Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO IDENTIFYING 
    Learners are capable of identifying and solving problems and making decisions is proposing a solution for disability cover. 

    UNIT STANDARD CCFO COLLECTING 
    Learners are capable of collecting, organising and critically evaluate information in conducting a needs analysis and proposing a potential solution for disability cover. 

    UNIT STANDARD CCFO COMMUNICATING 
    Learners are capable of communicating effectively in explaining concepts relating to disability cover and proposing a potential solution for disability cover. 

    UNIT STANDARD CCFO DEMONSTRATING 
    Learners are capable of demonstrating an understanding of the world as a set of related systems by identifying the relationship between occupation, job functions, avocation and risk. 

    UNIT STANDARD ASSESSOR CRITERIA 
    N/A 

    UNIT STANDARD NOTES 
    This unit standard has been replaced by unit standard 243131, which is "Describe disability insurance solutions in the context of financial planning", Level 4, 4 credits. 

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Core  49649   Further Education and Training Certificate: Long-term Insurance  Level 4  NQF Level 04  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  INSETA 
    Elective  49529   Further Education and Training Certificate: Long-Term Risk Assessment  Level 4  NQF Level 04  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  INSETA 
    Elective  48493   National Certificate: Financial Services: Wealth Management  Level 4  NQF Level 04  Passed the End Date -
    Status was "Registered"     		 2007-02-11  Was INSETA until Last Date for Achievement 


    PROVIDERS CURRENTLY ACCREDITED TO OFFER THIS UNIT STANDARD: 
    This information shows the current accreditations (i.e. those not past their accreditation end dates), and is the most complete record available to SAQA as of today. Some Primary or Delegated Quality Assurance Functionaries have a lag in their recording systems for provider accreditation, in turn leading to a lag in notifying SAQA of all the providers that they have accredited to offer qualifications and unit standards, as well as any extensions to accreditation end dates. The relevant Primary or Delegated Quality Assurance Functionary should be notified if a record appears to be missing from here.
     
    NONE 


    All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.