Offer customers information on insurance products associated with a retail organisation's credit card

This standard is about offering associated insurance products to customers who apply for your retail organisation's credit card, and giving customers information to help them decide whether to take out insurance. The sale of insurance products is carefully regulated so as to protect customers from being pressurised or misled. Your retail organisation needs to ensure that you fulfil your relevant legal responsibilities and act within the limits of your legal authority.

This standard is for staff offering customers information on insurance products associated with workplace credit cards.

When you have completed this standard you will be able to demonstrate your understanding of and ability to:

• Offer customers information on insurance products associated with a retail organisation's own credit card

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1. follow your workplace procedures and relevant legislation using compliant wording to give your workplace's credit card applicants consistent, clear, unbiased and factually correct information about the associated insurance products available and fully explain whether or not the insurance is optional, the cost of the insurance, the cover available, significant and unusual exclusions and customers' right to cancel the insurance
2. offer customers the insurance policy summary and explain clearly the benefits of reading it following your workforce procedures and relevant legislation
3. follow your workplace procedures to allow customers enough time to read the policy summary if they wish
4. check that customers are eligible for the insurance products being offered following your workplace procedures and relevant legislation
5. follow your workplace procedures to explain clearly that requests for advice or recommendations cannot be answered by you and explain to customers who they can contact for further help
6. follow your workplace procedures to check that customers understand the product information by listening to what they say and observing their body language

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1. the difference between informing and advising customers about insurance products and why only information must be given and not advice
2. the limits of your authority about which associated insurance products with your workplace’s credit card to offer and to whom
3. product features that customers must be told about, including whether or not the insurance is optional, the cost of the insurance, the cover available,significant and unusual exclusions, and customers' rights to cancel the insurance
4. how to give customers information about insurance products that is consistent, clear, unbiased, factually correct, and compliant with relevant legislation, regulations and guidelines
5. the benefits to customers of reading the policy summary
6. the relevant legislation requirements for offering the customer the opportunity to read the policy summary
7. who is eligible for the insurance products and how to check eligibility
8. how to deal with customers' requests for advice and recommendations concerning insurance products
9. who customers can contact for help with queries that cannot be handled at the time
10. why it is important to check that customers understand the product information given, and the verbal and non-verbal indications to listen and look for
11. what the relevant legislation around mis-selling is and why it is important

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3

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2030

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Current

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Original

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Skillsmart Retail

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SSR.C271

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Retail and Commercial Enterprise, Retailing and Wholesaling, Sales and Customer Services Occupations, Sales Assistants and Retail Cashiers

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7111

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Retailing; retailers; offers; offering; informs; informing; policies; policy

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