Intec School of Insurance to offer full qualification

07 August 2006 Elmarie Jensen

Now that acquiring the 30 and 60 credits required by the Financial Advisory and Intermediary Services (FAIS) Act is well on its way, the focus is shifting to advisers training for a full qualification. Intec School of Insurance is officially launching its full qualification programmes this month.

Although the deadline to obtain full qualification has not yet been announced by the Financial Services Board, the FAIS Act was introduced so that compliance for advisers would be achieved in phases with the final phase culminating in a full qualification.

We are not only excited to announce that we can now offer a very affordable outcomes-based full qualification, but also that advisers who have started their studies already can do a range of top up programmes to obtain the balance required towards the full qualification. These programmes are individually customised to accommodate a wide range of previous learning already acquired, says Nikki Wouterse, CEO of ICG Learning Solutions, the division of International Colleges Group working with Intec School of Insurance to upgrade national skills.

Wouterse explains that Intec School of Insurance has extended their learning programmes to assist advisers in completing and/or achieving the following full qualifications:

* National Certificate in Financial Services Wealth Management, National Qualification
* Framework (NQF) levels 4 and 5
* National Certificate in Risk Management NQF level 4
* National Certificate in Short Term Insurance NQF level 4
* Further Education and Training Certificate (FETC) in Retail Insurance
* FETC in Short Term Insurance
* FETC in Long Term Insurance

She further points out that Intec School of Insurance always encourages learners to complete their studies at the institution where they started, but if that is not possible, Intec School of Insurance is able to step in and provide the appropriate programme to ensure that an adviser achieves his/her full qualification. An example in this regard would be the current learners of the College of Insurance which have done their COP or ICIBS, in which case Intec School of Insurance has specifically developed programmes that will enable these learners to obtain the full qualification required. Another example also includes Intec programmes for learners who have completed the UNISA/Damelin Recognition of Prior Learning (RPL) qualification and now want to work towards their full qualification.

About the full qualification courses
Full qualifications are broken into four to five skills programmes (SPs), with each SP consisting of two subjects that equal to no less than 30 credits if completed successfully. Each SP also consists of two formative assessments (assignments) and two 2-hour exam papers (summative assessments).

Advisers can choose to enroll on a skills programme or can enroll for the full qualification programme. Those with prior learning can also enroll on a part qualification to obtain the balance they require to achieve the full national qualification. However, advisers must note that they have to complete the skills programmes in the order that they have been curriculated.

Intec School of Insurance has achieved an excellent pass rate in their previous learning programmes, and has the national infrastructure to ensure that they can roll out these programmes effectively.

The material is of the highest standard and meets the South African Qualifications Authority (SAQA) requirements. The course is also endorsed by industry players, including INSETAs Quality Assurance Body (INSQA).

Subsidies still available for individuals and small companies
To urge the industry to enroll for FAIS training and to make training more affordable, INSETA (Insurance Sector Education and Training Authority) has made a 40% subsidy available for advisers who study through Intec School of Insurance.

The subsidy is easy to access with no application or approval delays. Advisers can simply pay Intec School of Insurance 60% of the course fees, while the learning institution will take care of all administration and further liaison with INSETA.

If your company has less than 50 employees, you are also eligible to apply for the same subsidy from INSETA.

Therefore, the costs for the full qualification ranges from R 4 350 to R 7 250 excluding the INSETA subsidy and with the subsidy it ranges from R 2 610 - R 4 350. The cost of a single 30 -credit skills programme is R 1 450 excluding the 40% subsidy and with the subsidy it is R870. Please note all prices include VAT but exclude external venue costs, if required.

How to register
Advisers can start to enroll for the balance of their qualification, or their full qualifications now. The remaining registrations cut-off dates for 2006 are August 25 and October 20 respectively.

The focus is now on obtaining a full qualification rather than simply gathering credits and, therefore, we urge advisers to enroll, concludes Wouterse.

For more information, or to enroll for the full qualification programme, contact Intec School of Insurance on 0860 10 40 14.

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