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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
243131  Describe disability insurance solutions in the context of financial planning 
ORIGINATOR
SGB Insurance and Investment 
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 "Reregistered" 		 2018-07-01  2023-06-30  SAQA 06120/18 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2026-06-30   2029-06-30  

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 replaces: 
US ID Unit Standard Title Pre-2009 NQF Level NQF Level Credits Replacement Status
113910  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 Trainee Financial Planners, Intermediaries, Product Developers, Co-ordinators of Medical Schemes, Financial Call Centre Agents and Trustees and Principal Officers 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:
  • Explaining disability insurance.
  • 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.
  • Applying knowledge of disability cover in the context of holistic financial planning. 
    		•

    LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    It is assumed that learners are competent in Communication and Mathematical Literacy at Level 3. 

    UNIT STANDARD RANGE 
    The typical scope of this unit standard is:
  • Disability arising from occupation and avocation risks.
  • The limitations of disability benefits should be considered in the context of the Life Offices Association (LOA) agreement on limitations of disability as long as this remains in force.
  • Cover includes own or similar, own, any, impairment and when cover is applicable. 
    		•

    Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Explain disability insurance. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    The concepts of occupational disability and physical impairment are explained with reference to legal and medical opinions. 

    ASSESSMENT CRITERION 2 
    Different ways in which disability insurance is paid out are explained with reference to monthly income distribution and capital lump sum payout. 

    ASSESSMENT CRITERION 3 
    The difference between free standing disability cover and that linked to another benefit, such as life cover, is explained with examples. 

    SPECIFIC OUTCOME 2 
    Determine the source and nature of income generation in order to establish level of income. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 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 
    Risks associated with selected occupations are analysed with reference to morbidity. 

    ASSESSMENT CRITERION 3 
    Provision for disablement is analysed for different types of retirement fund. 

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

    SPECIFIC OUTCOME 3 
    Explain the relationship between occupation and avocation risks and cover. 

    ASSESSMENT CRITERIA     

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

    ASSESSMENT CRITERION 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 the insurer of changes in income, job function and lifestyle. 

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

    SPECIFIC OUTCOME 4 
    Analyse the financial impact of a potential occurrence. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 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 
    A disability policy is analysed to determine cover, term, exclusions and suitability for a specific client. 


    UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
  • Anyone assessing a candidate against this Unit Standard must be registered as an assessor with the relevant ETQA or ETQA where a Memorandum of Understanding (MOU) exists with the relevant ETQA.
  • Any institution offering learning that will enable achievement of this Unit Standard must be accredited as a provider through the relevant ETQA or ETQA where a Memorandum of Understanding (MOU) exists with the relevant ETQA.
  • Moderation of assessment will be overseen by the relevant ETQA according to the moderation guidelines and the agreed ETQA procedures. 
    		•

    UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE 
    N/A 

    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 in determining the suitability of cover for a specific client. 

    UNIT STANDARD CCFO COLLECTING 
    Learners are capable of collecting, organising and critically evaluate information in conducting a needs analysis and selecting appropriate disability cover for a specific client. 

    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 

    REREGISTRATION HISTORY 
    As per the SAQA Board decision/s at that time, this unit standard was Reregistered in 2012; 2015. 

    UNIT STANDARD NOTES 
    This unit standard replaces unit standard 113910, "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
    Elective  66613   Further Education and Training Certificate: Wealth Management  Level 4  NQF Level 04  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  As per Learning Programmes recorded against this Qual 


    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.