NZQA registered unit standard
28096 version 2
Page 1 of 3
Title
Evaluate and select insurance product types in relation to events for
personal finances
Level
2
Credits
3
Purpose
People credited with this unit standard are able to evaluate and
select insurance product types in relation to events for personal
finances.
Classification
Core Generic > Personal Financial Management
Available grade
Achieved, Merit, and Excellence
Criteria for Merit
The evaluation includes a detailed comparison of the
advantages and disadvantages of the product options and
gives reasons why the selected options are appropriate to the
events.
Criteria for Excellence
The evaluation includes a comprehensive comparison of the
advantages and disadvantages of the product options and a
justification for selection of preferred insurance product options
in terms of their suitability to the events.
Explanatory notes
Version 2 was republished to clarify that insurance product options rather than product
types need to be compared.
1
This unit standard can be awarded with Achieved, Merit, or Excellence. For the
Achieved grade to be awarded, the outcome must be achieved as specified in the
outcome statement. For Merit or Excellence to be awarded, the candidate must meet
the Merit or Excellence criteria specified above.
2
Definition
Product option means insurance products offered by different providers.
3
Events may be real or hypothetical situations based on a case study of people.
People can relate to individuals, households, family/whānau, or other groups. The
events must enable the candidate to evaluate all of the insurance product types.
4
Candidates will self-select the insurance products for the events.
5
References
Sorted: Your Independent Money Guide – https://www.sorted.org.nz/;
NZQA National Qualifications Services
SSB Code 130301
 New Zealand Qualifications Authority 2016
NZQA registered unit standard
28096 version 2
Page 2 of 3
Insurance Council of New Zealand – http://www.icnz.org.nz/;
The Insurance and Savings Ombudsman – http://www.iombudsman.org.nz/;
Financial Services Complaints Ltd – http://www.fscl.org.nz/;
Financial Dispute Resolution – http://www.fdr.org.nz/.
Outcomes and evidence requirements
Outcome 1
Evaluate and select insurance product types in relation to events for personal finances.
Range
insurance product types may include – income protection, personal liability,
travel, house, vehicle, contents, mortgage or loan repayment, health, life;
events may include – flatting, travel, loss of income, serious accident, serious
illness, loss of or damage to tangible assets, death;
evidence relating to four different events is required.
Evidence requirements
1.1
Insurance product types relevant to the event are selected and product options
compared in terms of their advantages and disadvantages.
1.2
Preferred insurance product option is selected in terms of its suitability to the
personal financial cover needed for the event.
Planned review date
31 December 2016
Status information and last date for assessment for superseded versions
Process
Version Date
Last Date for Assessment
Registration
1
12 December 2013
N/A
Revision
2
21 May 2015
N/A
Republished
2
25 June 2015
N/A
Consent and Moderation Requirements (CMR) reference
0226
This CMR can be accessed at http://www.nzqa.govt.nz/framework/search/index.do.
Please note
Providers must be granted consent to assess against standards (accredited) by NZQA,
before they can report credits from assessment against unit standards or deliver courses
of study leading to that assessment.
Industry Training Organisations must be granted consent to assess against standards by
NZQA before they can register credits from assessment against unit standards.
Providers and Industry Training Organisations, which have been granted consent and
which are assessing against unit standards must engage with the moderation system that
applies to those standards.
NZQA National Qualifications Services
SSB Code 130301
 New Zealand Qualifications Authority 2016
NZQA registered unit standard
28096 version 2
Page 3 of 3
Requirements for consent to assess and an outline of the moderation system that applies
to this standard are outlined in the Consent and Moderation Requirements (CMR). The
CMR also includes useful information about special requirements for organisations wishing
to develop education and training programmes, such as minimum qualifications for tutors
and assessors, and special resource requirements.
Comments on this unit standard
Please contact NZQA National Qualifications Services nqs@nzqa.govt.nz if you wish to
suggest changes to the content of this unit standard.
NZQA National Qualifications Services
SSB Code 130301
 New Zealand Qualifications Authority 2016