FNSILF507 — Manage group life insurance policy administration

1 Recognise and apply relevant policy guidelines

• 1.1Identify relevant group policy ownership structure and associated rules of administration
• 1.2Verify party’s authority to act in relation to group life insurance policy
• 1.3Use inter-organisational relationships to collect information and authorisations

2 Review group life insurance policy

• 2.1Verify that group meets automatic acceptance eligibility criteria
• 2.2Review member schedule and verify members’ eligibility for group
• 2.3Review member changes that have occurred in period under review and make necessary adjustments to premiums and/or sums insured
• 2.4Reconcile details of policy to calculate premiums
• 2.5Calculate and remit stamp duty payable on benefits as required in each state and territory
• 2.6Calculate and apply group life profit share as per terms of policy, as necessary

3 Manage ongoing policy administration

• 3.1Identify requests that exceed automatic acceptance limits and refer for individual underwriting
• 3.2Manage medical information collection as necessary
• 3.3Make payments to maintain distribution and administration agreements, and reinsurance treaties
• 3.4Collect premiums in accordance with policy terms
• 3.5Manage cancellation of cover where necessary
• 3.6Update and issue documentation and records in accordance with procedures and regulatory requirements
• 3.7Work with relevant parties to maintain organisational compliance

4 Manage complaints and disputes

• 4.1Advise clients of dispute resolution procedures
• 4.2Use inter-organisational relationships to seek resolution of complaints and disputes
• 4.3Refer clients to relevant external dispute resolution body as appropriate

What does an assessment tool for FNSILF507 need to cover?

To satisfy the Principles of Assessment and Rules of Evidence, an assessment for FNSILF507 needs to address all 42 unit components: 4 elements with 19 performance criteria, 6 performance evidence requirements, 10 knowledge evidence requirements, and the foundation skills. A coverage matrix mapping each question and task to these components is what an auditor looks for.

How does Auditori generate an assessment tool for FNSILF507?

Auditori pulls the current release of FNSILF507 from training.gov.au and generates a complete package: candidate assessment, assessor guide with model answers and observation criteria, and a coverage matrix mapping every component. A suitably qualified person then reviews and approves the draft in a built-in workflow — consistent with ASQA's guidance on AI use in VET — before export as branded PDF and editable Word.

Is the first assessment tool really free?

Yes. Every new account includes one free credit — enough to generate the complete assessment tool for FNSILF507 — with no card and no subscription required. After that it's pay-as-you-go per unit.

Can I check my existing FNSILF507 assessment instead of generating a new one?

Yes — upload your existing assessment or learner guide and Auditori maps it against every element, performance criterion, PE and KE of FNSILF507, showing exactly what's covered and what's missing. Mapping costs a quarter of a credit.