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The purpose of the Qualification is to build knowledge and skill required for licensing with the insurance. It is intended to empower learners to acquire knowledge, skills, attitudes and values required to operate confidently as individuals in the South African community and to respond to the challenges of the economic environment and changing world of work as a result of regulation in Financial Services industry. It should add value to the qualifying learner in terms of enrichment of the person, status and recognition.

The Qualification covers Long-Term and Short-Term insurance related learning. It 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. It provides a balanced learning experience that allows flexible access to life long learning, higher education and to productive employment. It provides an opportunity for learners to learn and apply academic skills in relation to the workplace and will allow for multi-skilling. The focus is on basic information gathering, analysis, evaluation, presentation and the ability to apply knowledge of the sub-field to solve common problems within given a familiar context. The knowledge and skills learnt towards the Qualification should make learners who sell insurance policies in the Retail Sector more informed, efficient and cost effective workers who meet the Fit and Proper Qualification requirements. This should result, in more effective and efficient service to the consumer and should make the industry more competitive and compliant in the global market.

Qualifying learners are capable of:

  • Carrying out basic research, information gathering and analysis.
  • Interpreting current affairs and their influence on insurance.
  • Managing personal finances and risk in a work environment.
  • Operating a computer for business purposes.
  • Understanding the nature and scope of Short Term insurance.
  • Understanding the nature and scope of Long-Term insurance.
  • Applying knowledge of legislation, ethics and compliance in a Retail Insurance environment.
  • Applying skills of customer care to build a professional relationship with a client.It is anticipated that the Unit Standards that make up this Qualification may be included in Qualifications for other sectors which have reached an agreement with the Financial Services Board that allows for an industry Qualification with Financial Services electives.Rationale for the qualification:The FETC: Retail Insurance is designed to meet the needs of learners who earn commission from the sale of insurance or financial service products, but do not necessarily work in the insurance sector. Learners may be employed in a variety of positions in retail outlets across a number of different industries. The Financial Advisory and Intermediary Services Act (FAIS) (Act 37 of 2002) imposes licensing requirements in terms of the Fit and Proper determination of the Financial Services Board (FSB). Learners who offer combinations of Long-Term and Short-Term insurance as subsidiary products or services are construed to be giving financial advice. They are therefore required to be licensed with the Financial Services Board.The FETC: Retail Insurance is a generic Qualification that combines aspects of Long-Term and Short-Term insurance for niche markets. It allows the individual to work towards a nationally recognised Financial Services Qualification that combines features of Long and Short Term insurance. It is flexible enough to accommodate both learners in formal education and learners who already arrange Insurance within a selected industry. The intention is to promote the development of knowledge and skills that is required in Retail Insurance for licensing purposes.Learners at this level do work that requires fundamental knowledge of appropriate legislation and the most important areas of the insurance within a business context. They require a range of skills and the ability to apply essential methods and procedures within the limits of their authority. The work roles are in retail outlets and include, but are not limited to:
  • Travel agents.
  • Telemarketing.
  • Finance and Insurance Managers in motor dealers.
  • Salesman who insure packaged goods.
  • Agents who insure household goods in transit.
  • Sales people in furniture and electrical appliances.
  • Credit card insurance.
  • Employees in retail outlets that run accounts, in-store cards or debtors books and who sell debt protection insurance.
  • Estate Agents who offer credit life cover and life cover for owners of bonds and rentals.
  • Aviation management agents and people who recommend insurance or give advice.
  • Managing Agents who advise on insurance for Sectional Title Schemes.The FETC: Retail Insurance should produce knowledgeable, multi-skilled workers who are FAIS compliant and are able to contribute to improved productivity and efficiency within the Retail Insurance sub-sector. It should provide the means for learners to receive recognition of prior learning, to upgrade their skills and achieve a nationally recognised Qualification. It should also assist learners who move into positions where they give financial advice but are not necessarily employed by Financial Services institutions.


It is assumed that learners are competent in Communication and Mathematical Literacy at NQF Level 3 and the Level 2 Unit Standard, Investigate credit in own circumstances (NLRD 10715).

Access to the qualification:

There is open access to this Qualification bearing in mind the Learning Assumed to be in Place, detailed below.

Recognition of prior learning:

  • The FETC: Retail Insurance allows open access. Provision has been made for prior learning to be recognised if a learner is able to demonstrate competence in the knowledge, skills, values and attitudes implicit in this Qualification. Application for Recognition of Prior Learning (RPL) should be made to a relevant accredited ETQA.
  • Credit towards a Unit Standard is subject to quality assurance by a relevant accredited ETQA and is conducted by a workplace assessor.
  • This Qualification can be obtained in part or in whole through Recognition of Prior Learning.
  • RPL will be done using a range of assessment tools and techniques that have been jointly decided upon by the learner and the assessor.
  • The same principles that apply to assessment of the Qualification and its associated Unit Standards apply to RPL.

Course Content

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