Life Care Specialist

Raymond James Financial, Inc.; Troy (MI); On-site; USD 45,000 - 65,000; Full time

Job summary

Raymond James Financial, Inc. is seeking a detail-oriented specialist to support the underwriting process for life insurance applications submitted by financial advisors.

You will coordinate requirements, communicate with underwriters and advisors, and ensure timely, accurate information flows to avoid delays. Key duties include assisting advisors with applications, maintaining carrier contacts, monitoring underwriting guidelines, and updating case records.

Qualifications

• High School Diploma and 5+ years experience in annuities, life insurance, long-term care, and/or disability income products or customer service in financial services.
• Associates Degree with 1+ year experience in the same areas.
• Bachelor's Degree preferred.
• Any equivalent combination of experience, education, and/or training approved by Human Resources.

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 medical information to ensure the PI qualifies for quoted risk class.
• Communicate with the insurance company regarding submitted applications.
• Update agency management system as case moves through underwriting.
• Provide status updates via email or phone to financial advisors/agents.
• Review medical records to ensure all items are received and to confirm risk class applicability.
• Forward medical records to the carrier and review with underwriter.
• Assist in assessing whether risk class is appropriate for cases approved 'other than as applied for'.
• Assist financial advisors/agents in managing offers 'other than applied for'.
• Submit informal applications for preliminary underwriting decisions.
• Review underwriting decisions and update internal records with final benefits and premiums.
• Back-up assistance for illustrations and second-level review of submissions.
• Request updated illustrations for cases issued 'other than applied for'.
• Performs other duties and responsibilities as assigned.

Skills

Communication

Multitasking

Interpersonal skills

Problem solving

Data analysis

Education

High School Diploma

Associate degree

Bachelor's degree

Tools

Microsoft Office

CRM systems

Job description

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.

Essential Duties and 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

Knowledge of

• 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.

Skill in

• 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.

Education/Previous Experience

• 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.

• Bachelors Degree Preferred.

• OR ~

• Any equivalent combination of experience, education, and/or training approved by Human Resources.

Licenses/Certifications

• Life, Health and Variable Annuities License is helpful but not required.