In terms of Board Notice 194 of 2017, class of business (CoB) training forms a compulsory part of the competence requirements for FSPs, Key Individuals and Representatives.
Moonstone Business School of Excellence (MBSE) is a duly accredited institution and will provide training in all nine CoB modules stipulated in the Act.
What will the Long-term Insurance Module cover?
The purpose of this module is to provide learners with core knowledge and understanding of characteristics, terms and features of products in the long-term insurance class of business, including typical fee structures, charges and other costs and risks associated with investing, purchasing or transacting in these products.
In addition, the module provides knowledge of legislation impacting on long-term insurance products and tax implications of these products.
Lastly, the module will provide learners with the skill to assess the appropriateness of products within the long-term insurance class of business for specific client needs. The current General Code of Conduct requires that you “take reasonable steps” to ensure appropriateness. Under the new Code, you “must obtain from…”
Sub-classes covered in the training include:
- Assistance policies;
- Life risk policies;
- Life investment policies;
- Fund policies;
- Sinking fund policies;
- Long-term reinsurance policies.
If you require more information please contact via email or on 021 040 3085.
For information on Corporate Packages, please contact Sheila Olckers via email or on 021 883 8000..