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SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED UNIT STANDARD THAT HAS PASSED THE END DATE: 

Demonstrate knowledge and understanding of the sales process in Long Term Insurance 
SAQA US ID UNIT STANDARD TITLE
14317  Demonstrate knowledge and understanding of the sales process in Long Term Insurance 
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 
REGISTRATION STATUS REGISTRATION START DATE REGISTRATION END DATE SAQA DECISION NUMBER
Passed the End Date -
Status was "Reregistered" 
2004-12-02  2007-12-02  SAQA 1657/04 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2008-12-02   2011-12-02  

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 does not replace any other unit standard and is not replaced by any other unit standard. 

PURPOSE OF THE UNIT STANDARD 
This unit standard is intended for intermediaries who market long term insurance products.

The qualifying learner is capable of:
! Explaining the planning required of an intermediary.
! Explaining the role of prospecting in sales success.
! Describing how to access a potential client.
! Making a case for a sale. 

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 and Mathematical Literacy at Level 3. 

UNIT STANDARD RANGE 
The typical scope of this unit standard is Questions in different situations including age, gender, marital status, occupation related, hobby related and outside interests. 

Specific Outcomes and Assessment Criteria: 

SPECIFIC OUTCOME 1 
Explain the planning required of an intermediary. 

ASSESSMENT CRITERIA
 

ASSESSMENT CRITERION 1 
1. The income and expenditure needs of the intermediary are indicated in a simple budget. 

ASSESSMENT CRITERION 2 
2. The amount of commission needed to meet the required income is analysed in terms of the number of prospects and potentially successful sales. 

ASSESSMENT CRITERION 3 
3. The cumulative effect of renewal commission is explained with reference to guaranteed future income. 

ASSESSMENT CRITERION 4 
4. A work programme or diary is set up for a month to indicate the number of prospects, phone calls presentations and personal contacts that are planned for the month. 

ASSESSMENT CRITERION 5 
5. The work programme is assessed and an indication is given of whether the plan could produce the required income. 

SPECIFIC OUTCOME 2 
Explain the role of prospecting in sales success. 

ASSESSMENT CRITERIA
 

ASSESSMENT CRITERION 1 
1. The concepts of cold canvassing, centres of influence, referrals and prospecting letters are explained as potential sources of prospective clients. 

ASSESSMENT CRITERION 2 
2. Three different sources of prospective clients are identified and the positive and negative outcomes of working each source are indicated with authentic examples. 

SPECIFIC OUTCOME 3 
Describe how to access a potential client. 

ASSESSMENT CRITERIA
 

ASSESSMENT CRITERION 1 
1. The importance of face-to-face communication with a prospective client is explained in terms of the role of non-verbal communication. 

ASSESSMENT CRITERION 2 
2. The role of time management in an initial communication situation is explained and an indication is given of why it is important to be precise. 

ASSESSMENT CRITERION 3 
3. Responses for overcoming specific objections are demonstrated in role play with or without a script. 

SPECIFIC OUTCOME 4 
Make a case for a sale. 

ASSESSMENT CRITERIA
 

ASSESSMENT CRITERION 1 
1. Questions are demonstrated to elicit the required information in five different situations. 

ASSESSMENT CRITERION 2 
2. An accurate assessment is made of a prospective client's buying motive in five different situations. 

ASSESSMENT CRITERION 3 
3. The needs of a prospective client are prioritised in order to propose a solution. 

ASSESSMENT CRITERION 4 
4. An appropriate solution is matched to a product and to the needs, value system and wants of the prospective client. 

ASSESSMENT CRITERION 5 
5. The modus operandi in requesting a sale is described and an indication is given of possible ways to counteract objections for five different case studies. 

ASSESSMENT CRITERION 6 
6. The paperwork necessary to complete the sale is explained and an indication is given of activities that could support an on going relationship with a client. 


UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
This unit standard will be internally assessed by the provider and moderated by a moderator registered by INSQA or a relevant accredited ETQA. The mechanisms and requirements for moderation are contained in the document obtainable from INSQA, INSQA framework for assessment and moderation. 


Critical Cross-field Outcomes (CCFO): 

UNIT STANDARD CCFO IDENTIFYING 
Learners are able to identify and solve problems in recommending appropriate products to prospective clients. 

UNIT STANDARD CCFO ORGANISING 
Learners are able to organise and manage themselves effectively by becoming responsible citizens in identifying planning a work programme or diary and drawing up a simple budget. 

UNIT STANDARD CCFO COLLECTING 
Learners are able to collect, organise and critically evaluate information in gathering evidence and presenting a case for a sale. 

UNIT STANDARD CCFO COMMUNICATING 
Learners are able to communicate effectively asking questions, prospecting making a case for a sale and counteracting objections. 

UNIT STANDARD CCFO DEMONSTRATING 
Learners are able to demonstrate an understanding of the world as a set of related systems by matching products to the needs, wants, and value system of a prospective client. 

QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
  ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
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 
Elective  20773   National Certificate: Long Term Insurance  Level 4  NQF Level 04  Passed the End Date -
Status was "Registered" 
2004-12-05  INSETA 


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.