Life Care Specialist

Raymond James•Troy, MI

6d•Hybrid

About The Position

Under general supervision, facilitates the underwriting process for life insurance applications submitted by financial advisors or agents. Coordinates the gathering of requirements on behalf of the insurance company and communicates with underwriters and financial advisors or agents throughout the process, identifying issues and working to resolve them favorably. Works closely with Life Care Associates and other team members to support client satisfaction. Assigned responsibilities and projects must follow department policies, guidelines, and procedures. The role requires knowledge of general office practices, personal life insurance operations, and the processes and regulations of the assigned functional area. The specialist communicates underwriting information and next steps to advisors and agents, conveys information to insurance carriers to help secure appropriate offers, identifies potential underwriting issues, and uses standard office equipment and software to prepare correspondence, reports, spreadsheets, databases, and electronic communications. The position calls for organizing and tracking multiple detailed tasks with changing priorities and deadlines in a fast-paced environment; communicating effectively with internal and external contacts; gathering and analyzing information to research and resolve business issues; identifying data discrepancies; and problem solving. A high school diploma and relevant experience, an associate degree and relevant experience, or an equivalent combination of experience, education, and training approved by Human Resources is required. A bachelor's degree is preferred. A Life, Health, and Variable Annuities License is helpful but not required. The workstyle is hybrid, and travel is less than 25%.

Requirements

High school diploma and a minimum of five years of experience in annuities, life insurance, long-term care, disability income products, financial services, or customer service; alternatively, an associate degree and a minimum of one year of such experience.
Alternatively, an equivalent combination of experience, education, and training approved by Human Resources.
Knowledge of general office concepts and procedures, personal life insurance operations policies, process flows, and regulations for the assigned functional area.
Ability to communicate detailed insurance-company information clearly to financial advisors and agents, including status and course of action.
Ability to relay information to insurance carriers to help ensure appropriate offers for clients.
Ability to identify potential issues related to life insurance underwriting.
Ability to use standard office equipment and required software applications to produce correspondence, reports, electronic communications, spreadsheets, and databases.
Ability to organize, manage, and track multiple detailed tasks and assignments amid frequently changing priorities and deadlines in a fast-paced work environment.
Ability to communicate effectively, orally and in writing, with internal associates and external contacts at all levels.
Ability to gather relevant information, analyze and research issues, resolve business problems, and make decisions.
Ability to analyze data to identify discrepancies and solve problems.

Nice To Haves

Bachelor's degree.
Life, Health, and Variable Annuities License.

Responsibilities

Assist financial advisors and agents in completing life insurance applications.
Develop and maintain contacts at insurance carriers.
Keep abreast of product updates and underwriting guidelines.
Update the life team on issues related to underwriting.
Work with the licensing team on issues related to submitted business.
Determine the quoted risk class and review medical information submitted with applications to confirm whether the proposed insured currently qualifies for that risk class.
Communicate with insurance companies regarding submitted applications.
Update the agency management system as cases move through underwriting.
Provide status updates to financial advisors and agents by email or phone.
Review medical records to confirm that required items have been received, avoid delays, and assess whether the quoted risk class remains applicable based on the records.
Forward medical records to the carrier so they can be matched to the client file and reviewed by the underwriter.
Work with the in-house underwriter to assess whether a risk class is appropriate based on medical information, including when cases are approved other than as applied for.
Assist financial advisors and agents in managing offers that differ from the application.
Submit informal applications for preliminary underwriting decisions.
Review underwriting decisions and update internal records to reflect final benefit and premium amounts.
Provide backup assistance for illustrations.
Request updated illustrations for cases issued other than as applied for.
Perform other duties and responsibilities as assigned.