Financial Services Representatives – Vulnerable Customers – Life Insurance

The life insurance industry, as part of the financial services industry, is subject to extensive legislative and regulatory oversight.

Course Details

Regulation/Law

Australia: Australian Consumer Law and more

Ideal for

All employees, contractors, and volunteers

Region

Australia

Course Format

Structured Learning (35-40 min) option

Duration

Between 30 - 40 minutes

There are also additional industry guidelines and Codes which govern how the industry is to engage with vulnerable customers.

The findings highlighted a critical need to enhance processes for identifying and supporting vulnerable customers. Any organisation within the financial services sector must ensure that vulnerable customers have access to appropriate resources and support, helping them navigate financial services with confidence and security.

Course Overview

About this online course

Our  ‘Financial Services Regime – Vulnerable Customers for the Insurance Industry’ course is designed to guide you through the legal responsibilities related to vulnerable customers, helping you navigate the key legislative requirements. You’ll also gain a clear understanding of your obligations under the Life Insurance Code of Conduct, as well as the FSC Code of Ethics and Code of Conduct. This course provides practical insights to ensure you’re fully equipped to support vulnerable customers with care, respect, and compliance.

Ideal for workplaces that are

Personnel who provide financial advice in the Insurance industry

Key takeaways for participants

  • Understanding legal responsibilities – Gain a comprehensive understanding of the legal obligations surrounding vulnerable customers in the insurance industry
  • Navigating key legislation – Learn how to effectively navigate the key legislative requirements that protect vulnerable customers.
  • Obligations under industry codes – Understand your responsibilities under the Life Insurance Code of Conduct, the FSC Code of Ethics, and the FSC Code of Conduct.
  • Supporting vulnerable customers – Develop practical skills to support vulnerable customers with care, respect, and compliance in every interaction.
  • Practical insights for compliance – Equip yourself with actionable insights to ensure your work aligns with legal and ethical standards, promoting a compliant and supportive approach to vulnerable customers.

Legislation covered

Australian Consumer Law, National Consumer Credit Protection Act 2009, Banking Code of Practice 2021, General Insurance Code of Practice, Consumer Credit Protection Act 2009

Key modules

  • Financial Services Royal Commission
  • How can I facilitate informed decisions?
  • Life Insurance Code of Practice
  • Identifying Vulnerable Clients
  • Making a claim
  • Communication
  • Customer identification and verification
  • Interviews
  • Dispute resolution and complaints handling
  • Protecting vulnerable clients

Learning outcomes

By the end of this course, participants will be able to understand:

  • how to help deliver quality services to vulnerable clients as an employee, contractor or agent;
  • what your obligations are in respect of vulnerable clients; and
  • how to assist in increasing client satisfaction with the services we provide and lessen the risk of non-compliance

Duration and Format

Structured Learning

Ideal for first-time learners or those with little prior knowledge, covering the entire topic in 30-40 minutes. 

Accelerated Learning

Allows learners who understand the topic to proceed quickly through the course in 20-30 minutes.

MicroLearns

Short modules for time-poor learners, with each module lasting 5-10 minutes.

ShortBurst

Quick summaries of specific compliance areas, available in office-based and field-based formats, each lasting 5 minutes.

Delivery and Setup

SCORM

Our client services team can deliver our courses via SCORM file if you have a Learning Management System (LMS).

Compliance Platform

Alternatively, you can use our Compliance Platform to house any training material, track policy acceptance, administer surveys, and audits—all in one place. We can get you up and running within a few weeks. 

Related courses

Increase your compliance by bundling our related courses. This ensures you cover multiple topics and legislations for a holistic approach.

On the Safetrac

Why Choose Safetrac’s Compliance Courses 

Versatile Course Formats

Options include comprehensive compliance courses and short, bite-sized modules to meet diverse training needs. 

Engaging and Customisable Content

Our courses feature a variety of engaging and animated content, from videos to interactive modules, all of which can be customised based on your branding or designed with specific scenarios tailored to your business. 

Legally Up-to-Date

All content is regularly updated to reflect the latest legislation, ensuring your training remains compliant. 

Flexible Delivery Options

Available via SCORM or our Compliance Platform, with regular updates provided whenever legal changes occur. 

Exceptional Customer Service

Our local Client Services team ensures a smooth setup within a few weeks and offers ongoing support for all your learning and training needs.

Trusted by Leading Brands

Renowned companies like Uber, Chubb, and David Jones rely on our compliance training solutions.

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