Insurance Broker – ANZSCO 222113

Insurance Brokers operate as an independent agent to sell life, fire, accident, industrial or other forms of insurance for a range of insurance companies.
Skill Level
2
Skills Assessment Requirement

Unless you are exempt in very limited circumstances, you are required to have a positive Skills Assessment to apply for the visas listed above.

Skills Assessment authority for Insurance Broker is Vocational Education and Training Assess (VETASSESS). To have a positive skills assessment, you must meet the following criteria:

  • Qualification assessed at AQF Diploma level WITH a highly relevant field of studyAND at least one year of post-qualification highly relevant employment at an appropriate skill level in the past five years;

OR

  • Qualification assessed at AQF Diploma level WITH an additional qualificationat AQF Certificate IV in a highly relevant field of studyAND at least one year of post-qualification highly relevant employmentat an appropriate skill level in the past five years

OR

  • Qualification assessed at AQF Diploma WITHOUT a highly relevant field of study AND at least two years of post-qualification highly relevant employment at an appropriate skill level in the past five years
  • Applicants must meet both the qualification and employment requirements to obtain a positive skills assessment
  • Highly relevant fields of study include:
    • Insurance Broking

According to VETASSESS, your pre-qualification experience may be considered in the skills assessment if it meets the following requirements:

  • 3 years of relevant pre-qualification employment; and
  • 1 year of highly relevant employment within the past five years
Potential Visa Pathways for Insurance Broker
ANZSCOOccupationSkills Assessment189190485 491 (State)491 (Family)186 (Direct)407 (Training)494 (regional Sponsored)482 (TSS Short Term)
222113Insurance BrokerVETASSESSxxxx

Group: 2221 Financial Brokers

Description
Operate as independent agents to facilitate the trading of commodities and arrange insurance and loans of money on behalf of clients.
Tasks
  • Monitoring commodity prices, trends and other factors affecting the supply and demand for commodities
  • Negotiating the purchase and sale of commodities such as grains, wool, minerals and metals
  • Determining the specific financial and insurance requirements of clients, and researching and reviewing available finance and insurance products for suitability to meet clients’ requirements
  • Analysing clients’ financial status, discussing financial options and developing financial strategies
  • Recommending loan combinations that meet clients’ needs
  • Interviewing prospective clients to explain insurance policy conditions, risks covered, premium rates and benefits, and to make recommendations on the amount and type of cover
  • Arranging insurance, home loan mortgages and other types of finance for clients through banks, lenders, financiers and insurance companies
  • Preparing documents which set out the conditions of finance, repayments and loan periods
  • Identifying and advising on significant risk changes to clients’ insurance
  • Broking complex and commercial leases, equipment finance, commercial finance, project finance and finance for property developers
Skill Level
In Australia and New Zealand:

Most occupations in this unit group have a level of skill commensurate with the following qualifications and experience:

  • Australia (ANZSCO Skill Level 2)
    • AQF Associate Degree; or
    • AQF Advanced Diploma; or
    • AQF Diploma; or
  • New Zealand (ANZSCO Skill Level 2)
    • NSQF Diploma; or

Please note at least three years of relevant experience may substitute for the formal qualifications listed above. In some instances, relevant experience and/or on-the-job training may be required in addition to the formal qualification. This occupation may require registration or licensing.

Occupations in this Group
  • 222111 Commodities Trader
  • 222112 Finance Broker
  • 222113 Insurance Broker
  • 222199 Financial Brokers nec
How to calculate your points (skilled visas)

To apply for a skilled visa, you need to know how many points you can score. The minimum score to be eligible for application is 65 points. However, depending on your occupation, the competitiveness, and the states you are applying to, you might need to score more points to get an invite.

Points will be given to you based on the following:

Click here to calculate your points.

Subclass 190 visa– Skilled Nominated Visa & Subclass 491 visa – Skilled Work Regional (Provisional) Visa

To apply for visa subclass 190 and visa subclass 491, you need to have a nomination from the state/territory government where you want to live and work. Each State and Territory have individual requirements that must be met in order to receive nomination. (See below)

While the 190 visa is a permanent visa, subclass 491 visa gives you right to live and work in regional Australia for 5 years with a pathway to permanent residency through the subclass 191 visa.

Another difference between the 190 and 491 visa is that you can only apply for visa subclass 491 if you are living and working in regional areas in Australia, while it is not a requirement if you are applying for the 190 visa.

In summary, to be eligible for 190 visa, you need to meet the following criteria:

Immigration Points

Must score at least 65 points, or higher points if the state or territory requires.

English

Must have at least Competent English, i.e., IELTS 6.0 or equivalent, or higher if the state or territory requires.

Age

Must be under 45 years of age.

be invited

Must lodge an EOI and be invited by the state or territory and then apply for the visa.

Skills assessment

Must have positive skills assessment. Each occupation has a specific assessing authority.

HEALTH AND CHARACTER

Must meet health and character requirements.


To check if the state/ territory government requirements for your occupation, refer to the following links

State/ Territory
Links to requirements
New South Wales
Victoria
South Australia
Western Australia
Northern Territory
Australian Capital Territory (ACT)
Tasmania
Queensland

407  Training Visa

The 407 visa a short stay visa for individuals to participate in occupational training or professional development in Australia. This visa is generally valid to stay in Australia for 2 years. Please note this visa is subject to condition 8102 which forbids work apart from the training that is specified in the visa application. You are also required to maintain health insurance whilst in Australia.

To be eligible for visa 407, you need to meet the following criteria:

GTE

You must prove that you genuinely stay in Australia for training and will depart when you complete the training.

English Level

Must have Functional English, i.e. IELTS overall 4.5 with no band less than 4, or equivalent.

Age

Must be over 18 years old.

Be Sponsored

You must be sponsored by an approved temporary activities sponsor – Can be an employer or a commonwealth agency

Health and Character

Must meet health and character requirements.

Subclass 494 visa – Skilled Sponsored Regional (Provisional) visa

You can apply for subclass 494 if you have a regional employer who is willing to sponsor you. To be eligible for this visa, you must have at least 3 years of working experience in your nominated occupation and have a relevant skills assessment. With this visa, there is a requirement that you must work for the employer who is sponsoring you.

This visa provides pathway to permanent residency through the 191 visa.

Experience

At least 3 years full-time work experience in the nominated occupation.

English

Must have at least Competent English, i.e., IELTS 6.0 or equivalent.

Age

Must be under 45 years of age, unless exempt.

Be Sponsored

Must be sponsored by an Australian regional employer.

Subclass 482 visa – Temporary Skill Shortage (Short Term)

The Subclass 482 visa is a Temporary Skill Shortage visa that requires a sponsorship from an Australian employer. The TSS short term stream visa allows to your live and work in Australia for up to 2 years each time you are granted this visa. You may apply for two 482 visas in the short stream onshore and subsequent ones offshore, as long as the employer is willing to sponsor you. The TSS 482 short term stream does not have a path to permanent residency throught the 186 visa.

English Level

Must have IELTS atleast 5.0 with no band less than 4.5.

Age

There is no age requirement for this visa.

Health and Character

Must meet health and character requirements.

Job Outlook

  • $2,231 AUD

    Weekly Earnings

  • 85%

    Work full time hours

  • Strong

    Growth expected in the next 5 years

  • 43% female

    Gender share

  • 44 hours

    Average full-time

  • High Skill

    Skill level rating

Book a consultation with our Registered Migration Agents in Melbourne to find out more about your visa options and your path to Australian permanent residency or applying for citizenship.