The course considers the policy holder protection rules (2017) issued in terms of the Long-term Insurance Act as amended by Government notice 997 of 28 September 2018. The new rules also provide for micro insurance product standards to support the microinsurance regulatory framework as established by the Insurance Act 18 of 2017.
Time allotted for course
The course consists of 11 topics with an assessment that needs to be completed. The time allotted for each aspect is as follows:
Assessment and certification
After completion of the workshop the learner must complete an electronic assessment on the learning management system.
• Form of assessment: Online Multiple Choice Questions
• Number of questions: 20 questions
• Duration: 60 minutes
• Competency mark: 60%
Upon obtaining a competency mark of 60% the learning will receive a certificate of completion. The learner will be afforded an opportunity to re-do the workshop should a competency mark not be attained.
COB Category: COB 3
Financial planning component: Ethics and Practice Standards | Risk Management
Advice component: Ethics, Standards and Compliance | Insurance (Long-term)
Accreditation valid until: April 2021
CPD Points allocated: 7 hours | 5 CPD points
Professional Body Approval: Institute of Bankers in South Africa (IOBSA)
IOBSA Approval Number: 2020025