®CHARTERED LIFE UNDERWRITER

Awarded by the Singapore College of Insurance under licence from The American College

2018

N u r t u r i n g A s i a ’ s B e s t

SECURITY,LEADERSHIP.

Module titles for CLU®/S, a Designation awarded by Singapore

College of Insurance (SCI), under license from The American

College

CLUS01 / DLI01: Individual Life Insurance

CLUS02 / DLI02: Risk Management, Insurance and Retirement Planning

CLUS03 / DLI03: Life Insurance Law

CLUS04 / DLI04: Life Insurance Company Operations

CLUS05 / DLI05: Financial Planning: Process and Environment

CLUS06: Investments

CLUS07: Planning for Business Owners and Professionals

CLUS08: Group Benefits and Health Insurance

LEARNING OUTCOMES

By the end of the 8 modules, candidates will be able to:

• Provide guidance to clients on types and amounts of life insurance

needed.

• Make recommendations on aspects of risk management, including

personal and business uses of a variety of insurance solutions.

• Provide guidance to clients on legal aspects of life insurance contracts

and beneficiaries.

• Understand the various types of estate planning tools, as well as the

implications of various wills and trust arrangements on financial,

retirement and succession planning issues.

• Provide a holistic and comprehensive approach to addressing the

insurance planning needs of your clients.

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Who should enrol inthe CLU ®/S designation?

• Financial Planners / Life Insurance Advisers;

• Relationship Managers;

• Bancassurance Staff; and

• Other insurance professionals whose job responsibilities require in-depth

knowledge of financial planning principles, practices and products, and those

wishing to obtain a professional financial planning qualification for their

career advancement.

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Entry Requirements

Any candidate who registers for the Chartered Life Underwriter®/Singapore (CLU®/S)

programme must have completed the Chartered Financial Consultant®/ Singapore

(ChFC®/S) programme or the Diploma in Life Insurance (DLI) programme.

DLI holders may earn the Chartered Life Underwriter®/ Singapore (CLU®/S) designation by

completing the following 3 additional modules:

CLUS06: Investments

CLUS07: Planning for Business Owners and Professionals

CLUS08: Group Benefits and Health Insurance

ChFC®/S holders may earn the Chartered Life Underwriter®/Singapore (CLU®/S)

designation by completing the following 4 additional modules:

CLUS01 / DLI01: Individual Life Insurance

CLUS03 / DLI03: Life Insurance Law

CLUS04 / DLI04: Life Insurance Company Operations

CLUS08: Group Benefits and Health Insurance

AFC Designation 

Upon passing DLI05, the candidate can apply for the Associate Financial Consultant (AFC)

designation directly with IFPAS, subject to any terms and conditions as specified by IFPAS.

The candidates are required to come to SCI to sign a Student Contract for each of the DLI

modules before they are able to register for the examinations.

After obtaining the CLU®/S designation, candidates can proceed to take the following five

modules to obtain their ChFC®/S designation, also awarded by SCI, under licence from The

American College:

ChFC03: Tax, Estate Planning and Legal Aspects of Financial Planning

ChFC05: Plan Construction, Practice Standards and Ethics

ChFC07: Wealth Management and Financial Planning

ChFC08: Financial Planning Applications

ChFC09: Ethics for the Financial Services Professional

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2018 Examination Schedule for CLU®/S Modules

The examinations for CLUS01 to CLUS08 are conducted weekly.

For the detailed Examination Schedule, please refer to the SCI Website at: www.scicollege.org.sg/examschedule.

asp?CLUS

Examination Details

Examination Duration Examination Format Total Marks Pass Requirement2 Hours(Per module)

100 Multiple-Choice Questions

100 marks(per module)

70% Pass Mark

Examination Fees(Valid for 2018)

Note: A one-time non-refundable registration fee of S$32.10 (inclusive of 7% GST) is applicable at the time of first admission into the programme.

Fee Per Module(All Fees inclusive of 7% GST)

First Attempt (With Study Text)

Each Subsequent Attempt (Without Study Text)

Member Company S$385.20 S$107.00

Non-Member Company S$423.72 S$117.70

2018 Examination SyllabusPlease refer to the SCI Website at: https://www.scicollege.org.sg

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CPD Hours Awarded

CLUS01 to CLUS08: 2 CPD hours per module for the relevant examination passed.

Qualification Awarded Upon Successful Completion

Upon successful completion of the examination modules within the specified time frame,

candidates will be eligible to use the certification designation of CLU®/S, subject to other

qualifying requirements being met, including experience and ethics requirements.

For the examination schedule and other programme details, please refer to the SCI Website

at: https://www.scicollege.org.sg

Release of Result Slips

The result slip will be released immediately upon the candidate finishing the computer-mode

examination.

Certificate Parchment

Candidates will be notified when the relevant certificate parchments are available for col-

lection. The candidates will have to personally collect their certificate parchments from SCI

during our office hours.

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Examination Policies

Registration Policy Registrations should be made online at www.scicollege.org.sg. Before registering,

candidates should refer to the “For Whom” and “Entry Requirement” section of the

respective Programmes, to ensure that they meet the recommended experience and

programme prerequisites. A good command of the English language is essential. SCI

reserves the right to reject any candidates who does not meet the minimum entry

requirements.

SCI reserves the right to make changes to the programme details owing to unforeseen

circumstances.

Refund Policy Should the candidate decide to withdraw from the examination(s), the candidate must

complete and submit the “Withdrawal Form For ChFC®/S and CLU®/S Programme”

in person at SCI during office hours. The candidate must return the “Withdrawal Form

For ChFC®/S and CLU®/S Programme”. A copy of the “Withdrawal Form For ChFC®/S

and CLU®/S Programme” is available for download at the SCI Website at: https://www.

scicollege.org.sg.

Candidates to note the following refund policy :

• Withdrawal notice of more than 14 working days before the examination registered

for, 75% refund of the examination fee.

• Withdrawal notice of between 14 to 7 working days before the examination registered

for, 50% refund of the examination fee.

• Withdrawal notice of less than 7 working days before the examination registered for,

there will be no refund.

There will be no refund of the one-time registration fee of S$32.10 (inclusive of 7% GST).

No substitution is allowed.

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Absent on Day of Examination Candidates will be graded ABSENT if they do not attend the examination on the

examination date. No refunds will be given.

If the candidate is absent from the examination owing to the following valid reasons:

• Medical grounds (self);

• Bereavement cases (immediate family member);

• Disabling accident or injury (self);

• Court appearance (self); or

• National Service (self) in accordance with the Enlistment Act (Chapter 93);

The candidate may apply for his examination entry to be rescheduled to the next

examination series by completing an online “Absent On The Day Of Examination

For ChFC®/S and CLU®/S Programme” Form(s) at the SCI Website at: https://www.

scicollege.org.sg within three working days of the examination that the candidate was

absent from due to valid reasons as above. Supporting documents will have to be

uploaded upon submission of the “Absent On The Day OF Examination For ChFC®/S

and CLU®/S Programme” Form(s). No other reasons will be entertained.

Rescheduling PolicyThe candidate may apply for his examination entry to be rescheduled to the next

examination series, by paying a fee of S$53.50 (inclusive of 7% GST) (valid for 2018) per

module for rescheduling notice given at least 7 working days before the examination

date.

Should there be a change in the study text edition, the candidate is required to pay the

difference between the first-timer and re-taker examination fee.

Rescheduling applications must be submitted online with payment via the SCI Website,

using the “Rescheduling Of Examination For ChFC®/S and CLU®/S Programme”

Form. No rescheduling will be allowed for notice of less than 7 working days from the

examination date.

Should the candidate decide to reschedule to a later examination date, please note that

the time bar will remain as of the first registered examination date.

Qualifying Requirements for CLU®/S

Time Bar for CompletionTo obtain the CLU®/S designation, DLI and ChFC®/S holders are given

another 3 consecutive years (or 36 months) from the date of first registered

examination date to pass the additional 3 and 4 modules respectively.

Should the candidate be absent or decide to transfer his first registered

examination date, to another date, the time bar will still start from the

examination date the candidate first registered to sit for. Modules passed or

exempted exceeding 3 years (or 36 months) are considered outdated passes

and will not count towards meeting the CLU®/S qualifying requirements.

If the candidate does not complete all the modules within this time limit,

the modules previously passed or exempted will no longer be valid and the

candidate will be required to retake all the modules.

It is the candidate’s responsibility to monitor his own time bar for the

examination completion of the CLU®/S programme. SCI will not send any

notification to remind the candidate in this respect.

If there are any changes to the modules, SCI will make every effort to ensure

that the candidate is not disadvantaged by such changes. There will be a

proper transitional arrangement for the candidate.

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Education RequirementThe candidate must pass the examinations for all the 8 modules and meet all other

course and ethics requirements.

• Sequence Of Examination Attempts

There is no sequence of examination attempts for the CLU®/S programme.

Candidates are allowed to take any of the modules in any sequence based on the

Examination Schedule.

• Number Of Attempts Allowed

There is no limit on the number of attempts that a candidate can take to complete

each module, subject to the Examination Schedule and the maximum period for

completion as specified.

Experience Requirement3 years of full-time business experience is required for the award of the CLU®/S

designation. The 3-year period must be within the 5 years preceding the date of the

award. An undergraduate or graduate degree from an accredited educational institution

qualifies as one year of business experience.

Ethics RequirementTo comply with the high ethical standard expected of a Chartered Life Underwriter®/

Singapore, every holder of the CLU®/S designation must sign a statement agreeing to be

bound by the CLU®/S Code of Ethics.

SCI reserves the right to withdraw the CLU®/S designation should any CLU®/S holder

be found in violation of the CLU®/S Code of Ethics.

Continuing Professional Development (CPD) RequirementTo maintain the designation, the CLU®/S holder is required to register a minimum of

30 hours of CPD credits with SCI every 2 years. The CPD credits for each reporting

period must comprise educational activities in acceptable subject matter areas. The

CLU®/S holder must have independent verification for the 30 CPD hours in the event

of being audited. Independent verification should consist of grade reports, attendance

certificates, transcripts, or written confirmation of attendance from the relevant

organisation. Written confirmation should include the name, topics addressed, date and

duration of programme, as well as a signature of an authorised representative. Renewal

of the CLU®/S designation is subject to the fulfillment of the required CPD requirement.

If the CLU®/S holder did not fulfil this requirement, he will not be allowed to use the

designation till the required CPD hours have been fulfilled accordingly.

CLU®/S DESIGNATIONCandidates who successfully meet the education requirement and the necessary

experience and ethics requirements will be entitled to apply for the CLU®/S

designation awarded by SCI under licence from The American College, with the word

“Singapore”. This is because the studies are based on Singapore laws. If the CLU®/S

holder wishes to practise in the US, he will need to take the US equivalent papers for

the CLU/US title. The CLU/S title is not transferable in this case.

THE COMMITMENT OF A CLU®/S

CLU®/S designees are held to the following ethical pledge:

“In all my professional relationships, I pledge myself to the following rule of ethical

conduct: I shall, in light of all conditions surrounding those I serve, which I shall make

every conscientious effort to ascertain and understand, render that service which, in

the same circumstances, I would apply to myself.”

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®CHARTERED LIFE UNDERWRITER

Contact Details

Singapore College of Insurance Limited

9 Temasek Boulevard #14-01/02/03

Suntec Tower Two, Singapore 038989

General Enquiry: (+65) 6221 2336

Fax: (+65) 6220 6684

E-mail: talk2us@scidomain.org.sg

Website: www.scicollege.org.sg

Singapore College of Insurance Limited

CPE Registration No.: 199408491M

Period of CPE Registration: From 26

September 2015 to 25 September 2019

Information presented on this marketing material is correct at the time of publishing. However, changes to the programme contents, dates, time, duration and venue can occur owing to unforeseen circumstances. Every effort will be made to inform all candidates of such changes on a timely basis.

Version 1: 14 Dec 2017