Overview
Underwrites individual life insurance contracts ranging in amounts through $1,000,000. May occasionally work on applications of higher amounts subject to review by a higher-ranking Underwriter. Selects individual life insurance risks, binding the Client on each contract.
Core Responsibilities
- Appraises, classifies, and takes action to approve or decline applications for new insurance, changes of plan, conversions, exchanges, reinstatements, and additions of benefits. Determines extra premiums for medical impairments and special hazards such as aviation, occupation, foreign residence and travel, and unusual avocations. Classifies each insurance applicant to eliminate adverse selection while maintaining equitable mortality. Work on applications both in French and English if required.
- Provides a second review of special cases for accuracy and adherence to underwriting standards as needed.
- Communicates with field force and Home Office personnel regarding insurance applications and adjustments. Answers routine inquiries from other departments and field force concerning the Orders underwriting policies, practices, and procedures related to individual applications.
Skills Qualifications Required:
- Knowledge of medical terminology and human anatomy; ability to understand and apply medical knowledge to insurance applications.
- Knowledge of federal and state insurance regulations Preferred:
- Knowledge of Client policies and insurance products/offerings
- Problem-solving and analytical skills
- Good business judgment/risk assessment skills
- Effective oral and written communication skills
- Capable of making informed, independent decisions
- Attention to detail
Education - Required
- BS or BA degree. LOMA and ALU courses.
- Preferred
- 5-7 years of individual life underwriting experience or equivalent combination of education and experience
Senior Underwriter