Life Care Specialist

Raymond James•Troy, MI

3d•Hybrid

About The Position

Under general supervision, facilitates underwriting process for life insurance applications submitted by financial advisors/agents. Specialist is responsible for coordinating requirements gathering on behalf of the insurance company, communicating with underwriter and financial advisor/agent as necessary throughout the process. Identifying issues and working to resolve favorably. Specialist works closely with Life Care Associate and other team members to ensure client satisfaction. All assigned job responsibilities and projects will be consistent with department policy guidelines and procedures.

Requirements

Advanced Knowledge of: Principles, practices, and procedures of general office concepts
Policies that govern personal life insurance operations.
Process flows within specific assigned functional area.
Regulations for specific assigned functional area.
Advanced Skill in: Communicating detailed information provided by insurance company to clearly provide financial advisors/agents with status and course of action
Relaying information to insurance carriers to help ensure best offers are received for clients
Identifying potential issues related to life insurance underwriting
Operating standard office equipment and using required software applications to produce correspondence, reports, electronic communication, spreadsheets, and databases.
Ability to: Organize, manage, and track multiple detailed tasks and assignments with frequently changing priorities and deadlines in a fast-paced work environment.
Use appropriate interpersonal styles and communicate effectively, both orally and writing, with internal associates and external contacts at all levels.
Effectively gather all relevant information in order to analyze, research, and resolve business issues in order to make decisions.
Analyzing data to identify discrepancies.
Problem solving.
High School Diploma and a minimum of five (5) years experience in the areas of annuities, life insurance, long-term care, and/or disability income products or financial services industry or customer service.
~or~ Associates Degree and a minimum of one (1) year experience in the areas of annuities, life insurance, long-term care, and/or disability income products or financial services industry or customer service.
~or~ Any equivalent combination of experience, education, and/or training approved by Human Resources.

Nice To Haves

Bachelors Degree Preferred.
Life, Health and Variable Annuities License is helpful but not required.

Responsibilities

Provide assistance to financial advisors/agents in completing life insurance applications
Develop and maintain contacts at insurance carriers
Keep abreast of product updates and underwriting guidelines
Update life team on various issues related to underwriting
Work with licensing team on issues related to submitted business
Determine risk class quoted and review any medical information submitted with the application to ensure the PI currently qualifies for the quoted risk class
Communicate with insurance company regarding submitted applications
Update agency management system as case moves through underwriting process
Provide status updates via email or phone to financial advisors/agents
Review medical records to ensure all necessary items are received to avoid delay and to determine if quoted risk class will still apply based on information obtained in medical records
Forward medical records to the carrier to match to client file and reviewed by the underwriter.
Work with in-house underwriter to assess whether the risk class is appropriate based on information obtained and when cases are approved “other than as applied for”
Assist financial advisor/agent in managing offers “other than applied for”
Submission of informal applications for preliminary underwriting decision
Review of underwriting decision updating internal record to reflect final benefit and premium amounts
Back-up assistance for illustrations
Second level review of submitted applications
Request updated illustrations for cases issued “other than applied for”
Performs other duties and responsibilities as assigned